The Carlyle Group backs Dept SBO

Unquote sister publication Mergermarket previously reported that the sale process of the asset started in September and that the business was marketed based on EBITDA of €25m.

Carlyle drew equity from its €1.35bn Carlyle Europe Technology Partners IV fund, which closed in Q1 this year. The vehicle targets European lower-mid-market companies focusing on telecommunications, media and technology.

Waterland acquired a majority stake in the business, at the time called TamTam, in 2015. Under the Waterland ownership, the company's workforce grew from 300 to 1,200 and the agency expanded from focusing on the Netherlands to serving 12 countries around the world. Its revenues also rose tenfold, to more than €150m, according to a statement.

Company
Founded in 1996, Dept provides digital marketing services, including strategy, brand consultancy, advertising, design, and technology and data management. Some of the company's clients include Bose, Tesla, Samsung, Formula E, Indigo and Beiersdorf. The business is based in Amsterdam.

People
Dept Agency – Dimi Albers (CEO).
The Carlyle Group – Michael Wand (managing director).

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• Carlyle Group
• Waterland Private Equity