Jamie Constable’s RCapital backs MBO of Second2 as Adventis Group exits

A secondary exit for Second2 has seen it fall under private equity control.

A secondary exit for Second2 has seen it fall under private equity control.

Technology marketing agency Second2 has completed a management buy-out (MBO) from previous owner Adventis Group with investment from private equity firm RCapital.

Kirsty Gilchrist, director of client services, has led the MBO and now hopes to lead the company to growth of its digital development, social and mobile offerings.

In 2008 Adventis bought Second2 for a price which could have risen to £10.5 million. It paid an initial £3.65 million, with the balance dependent on Second2’s performance over the next three and five years.

Gilchrist adds, ‘Our new partnership with RCapital brings significant benefits.

‘The RCapital team brings a wealth of specialist business, strategic and financial management skills which will enable us to achieve what would have otherwise been impossible under Adventis Group.’

Following the MBO, Second 2 says it is now a ‘truly independent company’ which is strong and ‘thriving’. The business currently has clients including Symantec, Avaya and Toyota.

Jamie Constable, founder of RCapital, says that Second2 has built an ‘exceptional’ reputation for delivering valuable B2B and channel marketing to technology companies.

‘Our new partnership will go a long way to unlock the company’s full potential with a partner that understands the complex needs of a marketing-based business.’

The transaction is the second of September for RCapital. Earlier in the month the turnaround backed portfolio company Morses Club’s second acquisition in four months as it picked up NFL Direct for an undisclosed amount.

Hunter Ruthven

Bernard Williamson

Hunter was the Editor for GrowthBusiness.co.uk from 2012 to 2014, before moving on to Caspian Media Ltd to be Editor of Real Business.

Related Topics

Venture capital funding