SPA Future Thinking has completed the sale of its remaining stake in Irish social media agency, Simply Zesty, to its new owners UTV Media plc.
The transaction completed on Monday 14th January 2013 and fixes SPA Future Thinking’s final returns at 4x money and 94% IRR. The acquisition was completed alongside the merger of Simply Zesty with UTV’s other digital agency, TIBUS, to create Ireland’s largest digital agency – branded Simply Zesty. SPA Future Thinking will reinvest the proceeds into its core business to enhance shareholder value. Since 2008, SPA Future Thinking has grown to become the largest privately owned market research group in the UK and its innovative products are helping the group consistently gain market share.
NWP’s Investor Director for SPA Future Thinking, Jonathan Brod, commented “This is a great result and we would like to thank CEO, Ken Fitzpatrick, and the founders Niall Harbison and Lauren Fisher. In Simply Zesty they have created a world class business against en extremely challenging market backdrop”.