Private equity investor Next Wave Partners has funded the merger of market research consultancies SPA and Future Thinking, formerly known as The Oxford Research Agency.
The newly formed agency will boast a GBP13m+ turnover and an international network of offices in London, Paris, New York and Oxford.
As part of the integration process, a single company brand will be developed with a new management board made up of SPA and Future Thinking personnel. The new combined entity will be run by Jon Priest as group chief executive.
The deal has been funded by growth capital private equity investor Next Wave Partners, which already has a 60 per cent holding in Future Thinking. Each agency will have a 20 per cent shareholding in the combined business, with the rest held by Next Wave Partners. SPA was advised on the transaction by Green Square Partners.
Priest says: “SPA and Future Thinking have highly complementary offerings. By coming together we have the opportunity to create a true market research powerhouse, providing clients with a broader range of services and superb career opportunities for our people both in the UK and overseas. Chris Sinclair, chief executive of Future Thinking, will be leaving to pursue new interests and the group wishes him well in the future.”
Jonathan Brod (pictured), partner at Next Wave Partners, adds: “Next Wave is delighted to be increasing our investment in the market research industry through the purchase of SPA and its merger with our existing portfolio company, Future Thinking, previously known as The Oxford Research Agency.
“Future Thinking and SPA are highly complementary businesses. Both are exceptionally well regarded with unparalleled client rosters in their respective sectors of FMCG, media and customer experience. We look forward to sharing best practice between both companies and working with the team to grow their combined presence in their vibrant, global markets.”
