The Carlyle Group partners with digital agency Dept
Amsterdam, Netherlands - Global investment firm The Carlyle Group (NASDAQ: CG) today 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.
Dimi Albers, CEO of Dept, said: “Over the past four and a half years, we have built Dept on the insight that brands and businesses are in need of a new kind of agency. One that brings together creativity, technology and data in integrated teams for its clients. An agency with simple structures, speed, clarity, and personal contact. With the help of Carlyle, we can continue to accelerate our journey to become a globally recognized powerhouse, while remaining firmly in charge of our own culture, brand and way of working. Personally, I am super proud that our founders, the full executive board and local leadership teams are all committed to this new partnership. We want to thank Waterland for being a great partner over the past four and a half years and are looking forward to the future.”
Michael Wand, Managing Director and Co-Head of the CETP investment advisory team at The Carlyle Group, said: “Digital transformation is a growing strategic issue for all businesses, and Dept is well-placed to support client needs in this space by providing an integrated one-stop-shop service which combines creativity, technology and data. Dept has the hallmarks we look for in our investments – above-market growth in a strategic sector, a partnership with a strong and high-energy leadership team, and multiple levers for growth, including international development. We see significant, long-term potential to build on what Dept has accomplished to date and look forward to working together.”
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.
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 $222 billion of assets under management as of March 31, 2019, Carlyle’s purpose is to invest wisely and create value on behalf of our investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,725 people in 33 offices across six continents.
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. www.deptagency.com
The Carlyle Group
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