Incite sold to marketing services group St Ives in £17m deal

Incite will act as subsidiary company within St Ives, with its current management team – including chairman Sid Simmons (pictured) and chief executive Roger Banks – remaining at the helm. Other companies within the group include Clays, Forward Thinking, Occam and Response One.

Simmons said: “Becoming part of St Ives offers us three advantages. Firstly it means we can put into play our plans for further expansion in different markets and geographies, with the financial backing of a larger company that has a track record of supporting the companies it acquires.

“Secondly, the team at St Ives are keen to let the companies they buy manage themselves, with minimal interference. They recognise that it’s in their interests to let us continue to run Incite as successfully as we have over the last 12 years. Finally, there are clear development opportunities with the other businesses within St Ives and we are looking forward to working more closely with them to help grow the group as a whole.”

St Ives will pay an agreed multiple of Incite’s audited EBITDA (earnings before interest, taxes, depreciation, and amortisation), up to a maximum of £11.4m. A further payment of up to £6.1m is subject to the research agency meeting performance targets for 2013 and 2014.

Incite reported revenue of £8.1m for the year ending 28 February 2011.