Engine sells to drive growth

Engine is being sold to the private-equity company Lake Capital in a paper-for-paper deal that values the company at just under £100 million and will see management and staff take shareholdings in a new combined group.

Engine Group: (l-r) Martin, Eiserman, Graunke, Kooyman, Klein and Scott
Engine Group: (l-r) Martin, Eiserman, Graunke, Kooyman, Klein and Scott

The transaction will be structured by the acquisition of Engine’s existing share and debt capital, including from HIG Capital.

The new group will pool Engine with two of Lake’s other investments: the global research and insights company ORC International and the Hollywood-based entertainment and content company Trailer Park.

The combined entity, which will be branded Engine Group, will have revenues of about $400 million. Peter Scott, the group chief executive of Engine, will become the vice-chairman and head of global strategy for the new group. Terry Graunke, Lake’s chairman and co-founder, will be the executive chairman.

Graunke said the aim is to "form the basis of a major, independent global force in marketing services and communications". Scott added that the deal would bring in new investment to support further international growth, particularly in China and the US, which are the main focus for the group outside the UK.

Debbie Klein, Rick Eiserman and Simon Kooyman will continue in their roles as the chief executive of Engine UK, Trailer Park and ORC respectively. Ashley Martin, Engine’s group chief finance officer, will retain his position in the new entity.

Topics

Subscribe to Campaign from just £57 per quarter

Includes the weekly magazine and quarterly Campaign IQ, plus unrestricted online access.

SUBSCRIBE

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now
How easyJet transformed customer data into emotional anniversary stories
Shares0
Share

1 How easyJet transformed customer data into emotional anniversary stories

To showcase innovation and good practice, Campaign is publishing the best case studies from the 2016 Marketing New Thinking Awards, held in association with Sky Media. EasyJet and Havas Helia triumphed in the Data Creativity category for their data-driven work on the airline's 20th anniversary.

Just published

More