Fri, 12 May 2023 | BUSINESS SALE
London, Leeds and Manchester-based Definition Group has completed the acquisition of creative marketing agency OTM. The deal is Definition’s third in the past 12 months and seventh in total, as the group continues with its buy and build growth strategy.
Over the past three years, the group has been active in an ongoing rise in professional services M&A, with deals including its acquisitions of PR growth agency TopLine Comms, creative agency Redhouse, employee engagement agency Words&Pictures and the double acquisition of strategy agency Brand Vista and consultancy Schwa in 2022.
Moving forward, the group says it plans to continue with its buy and build M&A growth strategy, seeking acquisitions of specialist consultancies across a wide range of industries.
The acquisition of OTM takes Definition’s annual revenue to £14 million and expands its specialist team to 120. OTM, which has clients including Transport for London (TfL), HSBC, ION Group, TPXimpact and 8x8, will deepen Definition’s presence in B2B technology, the public sector and financial services.
Currently, Definition’s portfolio of clients encompasses approximately 300 businesses and organisations across the private, public and third sectors, with notable clients including Sky, UK Parliament, Lego, ABB, Direct Line Group, Lloyds Banking Group, HS2, David Lloyd Clubs and Sony Music, among others.
Definition Group chief executive Heather Baker commented that OTM was a good strategic fit for the group and would bring “complementary expertise and experience” to its offering.
She added: “As a team of specialist consultancies that work side by side, we are uniquely positioned to help organisations define their brand vision and deliver it in a manner that is aligned both internally and externally. Now, with OTM in the mix, we have enhanced our ability to deliver consistent, integrated, end-to-end solutions."
OTM managing director Jeannie Gerry, who will join Definition’s operational board following the acquisition, added that the deal would “accelerate the scale” of what the business can deliver for its clients.
Read about what factors are driving M&A in the professional services sector.
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