Quore Capital acted as exclusive corporate finance and debt advisor to The Carlyle Group on the acquisition of Dept from Waterland Private Equity.
Global investment firm The Carlyle Group (NASDAQ: CG) announces that it has reached a definitive agreement to acquire a majority stake in Dept, a leading independent digital agency based in Amsterdam. This investment will enable Dept to continue to accelerate its growth in the fast-paced digital agency sector.
Named the second fastest-growing large agency in the world by Adweek in 2019, Dept delivers end-to-end digital experiences for brands and businesses worldwide such as Bose, Tesla, Samsung, Formula E, Indigo and Beiersdorf.
Founded in Amsterdam in 2015, the Dept team has grown from 150 people in The Netherlands to more than 1,500 people in thirteen countries across Europe and the Americas. During this period 2015-2019, Dept’s revenue rose tenfold to over 150 million Euros.
Equity for the investment comes from Carlyle Europe Technology Partners (CETP) IV, a fund that invests in technology and media-focused SMEs in Europe and the US. The proposed transaction is subject to customary regulatory approvals and is expected to close in the beginning of 2020. Financial details were not disclosed.
29 january 2020
Client: The Carlyle Group
Buyer: The Carlyle Group
Seller: Waterland Private Equity