Ardian becomes majority shareholder in Jakala

Alessia Argentieri
22 February 2021

Tweet
Facebook
LinkedIn
Google plus
Send to

Ardian has acquired a 60% stake in Italian outsourced marketing company Jakala.

Following the deal, founder and chair Matteo de Brabant will retain a 25% stake in the business via Jakala Holding, decreasing its ownership from 44%.

Reinvesting in the company alongside Ardian are minority shareholders Equity Club, a club deal backed by Mediobanca; H14, which is managed by Luigi, Eleonora and Barbara Berlusconi; PFC, the holding company of the Marzotto family; and Jakala's current management team.

Ardian invested in the business via its buyout division. The GP is currently deploying Ardian Buyout Fund VII, which was launched in March 2019 with a €6bn target and a €6.5bn hard-cap.

With Ardian's support, Jakala plans to accelerate its growth in Italy and internationally, while further pursuing a buy-and-build strategy wth strategic acquisitions.

Ardian first invested in Jakala, at the time called Seri Jakala, in June 2018, when it acquired a minority stake in the company. The investment was made by Ardian Growth alongside Mediobanca's Equity Club and several Italian entrepreneurs' family holdings.

The GP deployed capital from Ardian Growth Fund II, which held a final close on €230m in April 2018, surpassing its €200m target. The fund provides equity tickets in the €5-25m range to digital businesses with a turnover of €5-100m.

Under Ardian's ownership, the company has accelerated its expansion in new markets and geographies, including the UK, Poland, the US and Brazil.

The business has also grown via a buy-and-build strategy, making 10 acquisitions, including the bolt-on of marketing and customer engagement specialist Volponi; location analytics specialist GeoUniq; and 77 Agency, a digital media and performance agency. Over the last five years, Jakala's EBITDA has grown at an annual average rate of 25%, according to a statement.

Company
Founded in 2000 and headquartered in Milan, Jakala merged with Seri System in 2014 and Value Lab in 2015. The company is an outsourced marketing provider and specialises in analytics, big data and customer insight.

Employing 1,000 staff, Jakala serves a portfolio of around 400 clients including Italian and international companies such as Carrefour, Tesco, Vodafone and Intesa Sanpaolo.

The business has a presence in 12 countries worldwide and generates annual revenues of €300m, 35% of which comes from outside Italy.

People
Ardian – Marco Bellino, Yann Chareton (managing directors).
Seri Jakala – Matteo de Brabant (founder, chair); CEO Stefano Pedron (CEO).

Advisers
Equity – Arma Partners (M&A); Vitale & Co (corporate finance); Giovannelli e Associati (legal); Gattai Minoli Agostinelli Partners (legal); Gitti and Partners (tax); Roland Berger (commercial due diligence); KPMG (financial due diligence).
Company – Mediobanca (M&A); Gatti Pavesi Bianchi Ludovici (legal); New Deal Advisor (financial due diligence).