Jamieson is pleased to announce that it has advised the founders and management team of Dept on the transaction that saw The Carlyle Group acquire a majority stake in the business from Waterland.
Dept is a leading independent digital agency based in Amsterdam that 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. This investment will enable Dept to continue to accelerate its growth in the fast-paced digital agency sector.
Frank Schmid, COO of Dept, said “Conscious that Dept is a 100% people business, we engaged Jamieson at an early stage, aware that our incentive plan would be critical in the success of the transaction. They have guided us throughout the roller-coaster of such a competitive process and have been the vital link between all stakeholders. Both their analytical skills, wide knowledge of possibilities as well as their very personal approach have made our collaboration exceptional. We are proud of the result in finalising a deal in which there are only winners in the end.”
John Greenland, Ross Wheeler and Gus Gayford advised the founders and management team on their reinvestment into the new structure and the terms of the management incentive plan going forwards.