Phoenix Equity Partners announces the sale of Karmarama

Phoenix Equity Partners (“Phoenix”), a leading UK mid-market private equity firm, announces today the sale of its stake in Karmarama (“Karmarama” or “the Company”), one of the UK’s largest independent agencies, to Accenture (NYSE: ACN), a leading global professional services company. Financial details of the transaction are not disclosed.

Since investing in the company in 2011, Phoenix has worked with Karmarama’s experienced management team, led by CEO Ben Bilboul, to drive strong growth both organically and through the pursuit of a buy and build strategy. Through this active approach of investing in areas such as mobile and data-driven content, the company has developed a market-leading reputation for blending creativity, digital and data to develop campaigns that help brands better engage with consumers.  Karmarama has a team of 250 people, which has trebled over the last five years, whilst revenues have also more than trebled through the investment.  Notable clients include the BBC, Confused.com, Deutsche Bank, Sky, Honda, Just Eat and Unilever.

Mark Sargeant, Investment Director at Phoenix Equity Partners, said: “Accenture is the ideal next owner for Karmarama and we are delighted for Ben and the management team that they have found a new owner that shares their vision for the business. We are very proud of the strong partnership we have developed with the management team, helping the business grow to become a leading independent marketing services business with a unique skillset and enviable culture. We know that they will continue to flourish as part of Accenture Interactive, the world’s largest and fastest-growing digital agency.”

Ben Bilboul, CEO of Karmarama, commented: “I would like to thank Phoenix for its continued support and commitment to our business. They have been great partners and their backing has been instrumental in helping us deliver our tremendous growth. We now look forward to continuing our development as part of Accenture Interactive.”

This is the third significant exit for Phoenix in 2016, following the successful sales of Palletways and Edif earlier in the year.