Leeds performance marketing agency Connective3 has snapped up fellow city agency Powerhouse for an undisclosed sum.
Connective3 has grown rapidly since first launching five years ago and now has offices in London and Manchester as well as its Leeds head office, with growing clients including Ocado, Avon, and Love Holidays. Powerhouse, meanwhile, is a content creation studio founded in 1999 in Leeds. The company operates out of its 14,000sqft studio space, with clients including Iceland, Majestic, Yorkshire Tea and Shark Ninja.
The deal will take Connective3’s overall staff numbers to 130, with combined revenue expected to top £11m. Tim Grice, CEO of Connective3, said Powerhouse’s content creation offering aligns with Connective3’s creative capabilities, allowing them to offer end-to-end creative campaigns.
Powerhouse will continue to operate as a separate entity, but with access to centralised support to fuel business growth. Initial support will come in the form of finance, operations, sales, and marketing. The long-term plan is to explore collaboration opportunities across all clients to support the growth of all businesses in the group.
Mr Grice said: “The acquisition is an amazing way for us to mark five years of trading, and we’re beyond excited to welcome the Powerhouse team to the group. The relationship will allow us to elevate our creativity and produce outstanding content at scale, offering clients from both sides the skills and experience to deliver world-class campaigns.”
Neil Adams, CEO, of Powerhouse, said: “This acquisition represents an exciting new chapter for Powerhouse, building on our 25-year legacy of success and enabling our people and clients to thrive even more. It has been a tremendous privilege to build and nurture our incredibly talented team over the years. I am confident that Connective3 is the perfect home for them to continue creating world-class content for clients now and in the future.”
Original artice – https://business-live.co.uk/all-about/yorkshire-humber
