Dains advises on multi-million pound Management Buy-Out of ExtraMile Communications Limited
Dains Corporate Finance is pleased to announce that it has advised on the management buy-out of digital marketing agency ExtraMile Communications Limited, supported by a cash-flow loan provided by SME Capital. Founders Nick Evans and Gabrielle Hadley have sold a controlling stake in the business to the management team which is led by Managing Director Amanda Brooke and Sales Director James Roberts.
Founded in 2000, ExtraMile Communications is an integrated web and digital marketing services business with a multi-national client base, and works with businesses to improve their visibility and market penetration. Headquartered in Stone, Staffordshire, ExtraMile has developed significant experience and industry credibility since its inception, particularly in the international marketing arena and has achieved strong revenue growth in recent years.
Co-founder Gabrielle Hadley said: "Nick and I are incredibly proud of all that has been achieved by the ExtraMile team over the last 21 years. James was originally recruited to our team as a sales and marketing executive back in 2011, whilst Amanda was originally brought on board as a leadership and management consultant, to assist us in developing our leadership team as we grew. Developing our people and providing a great place to work has always been very important to us. We will still remain active directors of the business, but we feel the time is right for James and Amanda to lead our next phase of growth."
Amanda Brooke, Managing Director said: "James and I are looking forward to continuing to grow the business through our reputation for strong, results-based, multinational web and digital marketing services, and have seen growth across all areas of our business over the last two years. We have a great management team in place, and brilliant talent within the business, who we want to retain and develop as we move forward to the next phase of growth.”
What our client said
Amanda Brooke said: “The support we received was invaluable. The level of strategic insight in determining the best route for securing the finance and support with forecasting ensured we now have a solid foundation on which to continue to grow the business and deliver our goals.”
What we said
Roy Farmer, Corporate Finance Partner at Dains said: “We were delighted to have the opportunity to support ExtraMile and deliver a transaction which both rewards the founders for their 20-year stewardship of the business, whilst transferring ownership to the management team that has been so vital to the company’s recent success. We have no doubt that the transaction puts the business in excellent hands and will allow ExtraMile to continue their exceptional growth trajectory over the coming years, whilst retaining the experience and guidance of the founders.”
Advisers on the transaction
Corporate finance advice was provided to ExtraMile by Roy Farmer and Nick Reed of Dains Corporate Finance and tax advice by Ann Diggins and Sarah White of Dains LLP. Legal advice was provided by Neil Jones of Ansons and Daniel Keane of Keelys. Funding was provided by Keith Haywood of SME Capital.