Equistone backs Performance Interactive Alliance

Harriet Bailey
28 March 2014

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Equistone Partners Europe has taken a majority stake in newco Performance Interactive Alliance (PIA), which will integrate four German digital marketing businesses.

The four businesses – Performance Media, Econda, Blue Summit Media and Delasocial – will continue to operate individually and maintain their own management structures, but will offer an integrated range of services to customers from a single source.

The investment will support the development of the alliance through organic and acquisitive growth, particularly in German-speaking countries. PIA's 360 employees will be based in Hamburg, with subsidiary offices across Germany, as well as a software development site in Belgrade, Serbia. Turnover across the four businesses reached approximately €140m in 2013.

Earlier this week, Equistone acquired a majority stake in German PC and gaming components supplier Caseking. Afinum divested the company after a four-year period of ownership, according to unquote" data.

Company
Performance Media is a Hamburg-based consultancy in the online advertising and marketing sector. Founded in 2005, it employs 170 people and achieved revenues of approximately €100m in 2013.

Karlsruhe-based Econda is an agency that works with e-commerce clients to provide web analysis and sales recommendations for online shoppers. The company works with more than 1,000 e-commerce companies including clothing and footwear chains s.Oliver and Deichmann.

Blue Summit Media is an online business marketing company that plans and implements search engine optimisation and search engine advertising campaigns. Operating out of its Munich headquarters with more than 100 employees, it advises companies such as Austrian Airlines, Lufthansa and Germanwings.

Delasocial is a Hamburg-based social media and communications agency with an international team of around 60 employees. It specialises in social media, PR, digital marketing and brand engagement for companies including Disney, Sony Pictures and Warner Bros.

People
Equistone directors Dirk Schekerka and Marc Arens led the transaction with associate Leander Heyken.

Advisers
Equity – P+P Pöllath + Partners (Legal); KPMG (Financial due diligence, tax, corporate finance); N+1 (Debt advisory); Ashurst (Legal); LEK Consulting (Management due diligence).