Key backs independent performance media agency in £6.6m investment
Leeds and London-based private equity house, Key, has today announced that it has taken a material minority stake in London-based independent performance media agency, MC&C (now The Kite Factory). This is Key’s third investment from its latest fund.
Key are very supportive investors – they have a depth of experience working with SMEs to help them double in size and, while taking an active interest in the business, they empower management to get on with the job. They’re good guys to work with and provide a valuable external perspective.
The capital will be used to grow the firm, enabling key hires, further investment in operational technology, financing potential acquisitions, and acceleration of international growth. The investment triggers the formation of a new MC&C Group comprising MC&C London, MC&C Muse and the newly-formed MC&C International.
Key Partner, Mike Fell joins a new group executive board alongside founder Mike Colling, executive chairman of MC&C London Steve Booth, UK managing director Mark Jackson and deputy managing director Robin Trust.
MC&C have a unique approach to media investment management that we believe can drive growth for any business. This expertise simply doesn’t exist in the independent sector and we see huge potential for future growth. The management team has built a scalable model and an impressive leadership team and we look forward to supporting them on their next phase of growth.
Through its global clients, which include Unicef and WaterAid, MC&C has organically built a global portfolio which currently accounts for 7% of group revenues. MC&C International will formalise a hitherto informal global network to scale its revenues by working with like-minded performance oriented partners.
The network is comprised of nineteen partners initially, giving MC&C a formal footprint across the globe. Each will operate on a “preferred partner” basis, with global campaigns coordinated from London by MC&C’s planning team but executed locally through the new partner network.
Key’s London team completed the investment. MC&C was advised by Clarity, a leading M&A advisor for the global media, information, marketing, software and tech-enabled services sectors.