News Release

The Carlyle Group Closes Investment in Digital agency Dept


In parallel to the closing of Carlyle’s investment, Dept has acquired Swiss-based digital agency Hinderling Volkart.

Amsterdam, Netherlands - Global investment firm The Carlyle Group (NASDAQ: CG) today closed the majority stake investment in digital agency Dept that was first announced on 20 December 2019.

Dept delivers end-to-end digital experiences for brands worldwide through an integrated team that combines expertise in creativity, technology and data.

With this transaction Carlyle strengthens its footprint in the digital services sector through one of the fastest-growing independent digital agencies in the world, servicing clients such as Triumph Motorcycles, Ann Summers, Formula E and Johnson Matthey. Founded in Amsterdam in 2015, the Dept team currently has more than 1,500 people in thirteen countries across Europe. 

Equity for the investment comes from Carlyle Europe Technology Partners (CETP) IV, a fund that invests in technology and media-focused small to medium sized enterprises in Europe and the US, as well as from Carlyle Europe Partners V (CEP V), a European-focused upper-mid market buyout fund.

In parallel to the closing of Carlyle’s investment, Dept has also signed an agreement to acquire leading Swiss-based digital agency Hinderling Volkart, fuelling an early expansion of the company under Carlyle’s ownership. Hinderling Volkart will bolster Dept’s existing digital services capabilities and brand name in Switzerland.    

Michael Wand, Managing Director on the CETP advisory team, said: “We are delighted to have completed this investment into a next generation digital agency combining technology, creativity, data, and marketing services. With digital transformation being an issue of key strategic importance for all businesses, we believe Dept is well-positioned to consolidate their position as an award-winning agency and drive greater value for their clients. We look forward to working with the excellent “Depster” team to achieve this.”

Dimi Albers, CEO of Dept, said: “Carlyle’s investment in Dept is a testament to our track record and potential as an agency. Our acquisition of Hinderling Volkart is a great next chapter. It shows that with the help of Carlyle, we are accelerating our journey towards becoming the best agency in the world. By uniting creativity, technology and data, we know that we are building the agency model of the future and we can’t wait to put this into practice.”


About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $224 billion of assets under management as of December 31, 2019, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,775 people in 32 offices across six continents. Further information is available at Follow The Carlyle Group on Twitter @OneCarlyle.

About Dept

Hi, we are Dept - an international digital agency with over 1,500 experienced thinkers & makers in 13 countries across Europe and the Americas. One agency uniting creativity, technology, and data. Helping our clients reinvent & accelerate their digital reality by creating experiences that people want and businesses need.

Media contacts:

The Carlyle Group
Sami Dodangeh
+44 2078943561 / +44 7917804245

Marjan Straathof
+31 654713934