Private equity-backed marketing firm goes Dutch with overseas acquisition

Birmingham-headquartered global technology-led marketing business Team ITG, backed by the mid-market European private equity firm Equistone Partners Europe, has acquired a majority stake in European creative automation software company Storyteq, based in Amsterdam.

Team ITG says the new partnership with Storyteq will enhance the power of CanopyCloud, its proprietary Cloud-based technology platform. The firm already serves a number of global brands including KFC, Heineken, Renault, Clarkes, IWG and World Duty Free (Dufry).

The transaction represents Team ITG’s fifth acquisition since Equistone acquired a majority stake in 2017 and is in addition to the company’s continuing strong organic growth. The company’s headcount is now over 1,000 and has enabled the expansion of its technology and services offering.

Simon Ward, founder and CEO of Team ITG, said: “Team ITG has grown organically and completed multiple acquisitions in recent years, which speaks to the strength of our technology-led proposition and fanatical approach to customer service.

“This latest strategic acquisition further extends our capabilities in content automation and maintains our disruptive position in the market. Full creative and marketing automation for major global brands is here.

“We’re incredibly excited to welcome our new partners to the Team ITG family and to demonstrate just how powerful our technology is.”

Lennard Kooy, CEO of Storyteq, said: “Team ITG and CanopyCloud were the right fit for Storyteq as a progressive, technology-led partner. We’ve joined forces to deliver full marketing and creative automation, which will be a game-changer for the industry.”