Data analytics firm acquired for £14.8m
A Bath-based company that provides data analytical services for global firms including Shell and Jaguar Land Rover has been acquired by a marketing services group for £14.8m.
Edit, which specialises in customer data solutions, has been bought by the newly formed Salocin Group from its previous owners, IT service management company Kin and Carta.
The deal for Edit, which employs more than 120 staff across offices on Manvers Street in Bath city centre and in London, was financed by an investment from private equity firm NVM.
The transaction is the first from Salocin Group, the acquisition vehicle of experienced marketing director Nick Dixon, as part of its strategy to build a tech and data driven marketing services portfolio.
Edit has over 25 years of data, technology, and campaign management expertise, and has delivered customer data solutions and retention campaigns for clients such as Tesco Bank, The British Heart Foundation and US fitness tech firm Peloton.
As part of the deal the Edit leadership team, including joint managing directors Rob Mcgowan and Jeremy Fisher will take a stake in the business alongside Mr Dixon, who comes in as executive chair.
In a statement Mr Mcgowan and Mr Fisher said: “Edit received interest from a number of buyers, but as soon as we met NVM and Nick, we knew they would be the perfect fit to take the business forward.
“Nick’s industry expertise combined with a real understanding of the processes and procedures needed to accelerate growth demonstrated a strong fit for our ambitious growth plans.”
Mr Dixon said: “I have kept tabs on Edit from afar for several years, their clear strategic focus on maximising the value of first-party data, and their innovative award-winning campaigns demonstrate their class-leading credentials.
“I look forward to contributing to the next phase of their growth through our new partnership with NVM”.
NVM investment partners Peter Hodson and Charlie Pidgeon will also join the company’s board upon completion of the transaction.
Mr Hodson said: “We are delighted to be backing Nick and the team at Edit to build on what is already a fantastic business.
“Edit is one of a very small number of companies that are able to bridge the worlds of data and marketing. Their strong heritage in 1st party data and loyal customer base set them apart from their peers.
“We are excited to be supporting Nick, Jeremy, Rob and Stuart and confident that under their leadership the business will achieve considerable growth over the coming years.”
Mr Dixon previously helped to grow direct mail production firms Colorgraphic and Howitt and was formerly chief executive of Cirencester-based marketing firm Blueberry Wave, which he sold to marketing execution giant HH Global in 2019.