Cross-Pennine takeover deal boosts digital group’s growing portfolio
A cross-Pennine takeover deal has seen Harrogate’s IDHL acquire ecommerce specialist Ampersand, based in Manchester, for an undisclosed sum.
Digital heavyweight IDHL is increasing its acquisitive strategy following backing from Bridgepoint Development Capital last March.
IDHL employs more than 400 people and serves a nationwide customer base supporting businesses throughout the process of digital transformation.
Ampersand works with ecommerce brands such as Selco, Swoon and Seraphine and provides technical solutions to eradicate growth-limiting problems.
The deal will enable Ampersand to continue its business growth, while IDHL will build on its Manchester presence through the latest addition to its portfolio, which included the recent addition of North East luxury ecommerce agency, Fostr in November last year.
Following the Ampersand acquisition, Darryl Adie will continue to lead the Manchester business, along with managing director Brett Cooper, working in close collaboration with IDHL’s leadership team to integrate and grow the business as part of the network of agencies.
Darryl Adie said: “We are excited to be joining the IDHL Group and the opportunities it will bring to the Ampersand team and our customers. We look forward to accelerating the work and achievements of the Ampersand team to date with the group’s support.”
Dennis Engel, IDHL chief executive, said regarding the Ampersand deal: “Their ecommerce technical capability enhances our web division offering which supports our growth strategy and investment in this expertise.”
IDHL now operates nine specialist agencies in key digital cities including Leeds, Manchester and London.
Providing corporate finance advice to the Ampersand shareholders was Sam Davies and Brad Seekings of Cowgills. Legal advice was provided by Will Munday and Lara McKeown of DWF.
IDHL was advised by Squire Patton Boggs, led by Louisa Hine with tax and financial due diligence provided by Declan Ramsey at Grant Thornton.
