KBS Corporate has successfully advised on the acquisition of Emailcenter UK Ltd to Xtremepush Limited in a multi-million-pound deal.
Established in 1999, Emailcenter UK is a leading email marketing service provider, currently working with over 400 brands in the UK, including well-known businesses such as Hungry House, Onthebeach.co.uk, Go Compare and ASOS.
The shareholders had a clear exit strategy in place and instructed KBS Corporate with the confidence that it could fulfil their differing objectives. This required a deal which would allow the founder and Managing Director, Nigel Williams, to retire, whilst retaining Technical Director Jason McSweeney in the business to help drive future growth.
KBS Corporate deployed a robust buyer targeting campaign and received multiple interest for the opportunity, resulting in three serious offers coming from two overseas buyers and a private equity firm.
The private equity company was the first to place an offer and multiple rounds of bidding ensued thereafter, resulting in an uplift on the first offer received.
An eventual deal was agreed with Dublin-based company, Xtremepush, one of the world’s leading Multi-Channel Analytics and Engagement Marketing Platform providers.
The deal is the company’s first acquisition and marks the start of an acquisitive trail, in which the company will look to further grow in the future from acquisition.
The buyer acquired the business to take advantage of the synergies the companies share and to benefit from the vendor’s extensive client base and industry expertise. The deal also gives the acquirer the opportunity to expand into the UK by taking advantage of Emailcenter UK’s geographical reach.
KBS Corporate’s Chief Financial Officer, Andrew Melbourne, advised on the deal and commented, “I am delighted with this transaction as it represents a great deal for both parties. The opportunity received interest from multiple overseas buyers and from private equity, leading to an ideal exit solution for both of my clients who had two very different requirements from the process. For the buyer, this also represents a solid footprint into the UK, and I am confident this will be a good start to their buy and build strategy.
“All of this, added to the strong relationships formed between both parties over the due diligence period, should pave the way for an exciting future, and I wish everyone involved with this transaction all the success they deserve.”