Member Article

Next Fifteen secures third acquisition in six months

Next Fifteen Communications Group has acquired IncrediBull World Limited, a brand marketing consultancy based in London.

The acquisition, which follows that of Encore Digital Media in April, is consistent with Next 15’s stated intention to strengthen its UK operations.

IncrediBull was founded in 2000 and employs 21 people, serving clients including SunTrust, NCR and Skype.

Its service offering includes strategy, communications, design, film and events. For the year ended 31 December 2014 Incredibull reported revenues of £2.4m, adjusted pre-tax profit of £500k and net assets of £200k.

The initial consideration for the acquisition is approximately £1.6m of which approximately £1.3m is being satisfied in cash with the balance being satisfied by the issue to the vendors of 166,276 new ordinary shares in Next 15.

Further consideration will be paid based on the profit of IncrediBull for the year to 31 December 2015. The total consideration is subject to an undisclosed cap. The acquisition is expected to be earnings enhancing from completion.

After an initial earn-out period, IncrediBull will be fully integrated into Text100, Next 15’s global communications agency and Richard Parkinson, Managing Director and one of the founders of IncrediBull, will become Global Head of Client Services for Text100.

Tim Dyson, CEO of Next 15 said: “Next 15 believes the future of marketing lies in its ability to deliver engaging, digital content. IncrediBull has a history of creating brand platforms from which to serve up great content and engage with customers.

“As such they will play an important role in strengthening and extending our Text100 offering. This acquisition adds great talent and a strong product set to our UK business and caps a string of acquisitions in this market covering content, insight and technology,”

“I’m delighted IncrediBull and the great team here has the opportunity to be part of something bigger; taking what we’ve built so far out onto a global stage. Text100 shares the same goal as IncrediBull and that is to be a world class agency that makes a difference.” said Richard Parkinson of IncrediBull.

This was posted in Bdaily's Members' News section by Ellen Forster .