BDO has advised the shareholders of CTI Holdings (CTI), the fast-growing Manchester-based digital agency group, on its substantial investment from private equity firm LDC, to support the next stage of its international growth plans.
Headquartered in Manchester, and having footprint elsewhere in the UK and overseas, award-winning CTI helps well-known private, public, and third-sector entities to harness the power of digital through a range of digital transformation services, including digital marketing, e-commerce, web and app development, hosting & support, digital asset management, and strategy. Founded almost 20 years ago, it has developed an enviable reputation as an industry leader through its commitment to its people, its clients and its use of cutting-edge technologies, including key open-source and proprietary CMS platforms. Having completed five acquisitions in the past three years, CTI has grown quickly, with revenues rising to £18m in the last 12 months.
The investment will help the existing management team to expand and enhance its existing suite of digital services and acquire complementary businesses in the UK and overseas. This includes plans to expand into new international territories, in addition to opening new offices to support a growing client base in the USA, Europe and Asia.
“BDO provided exceptional support to the CTI shareholders throughout the sale process. They really understood the sector, our business, and our growth story, investing time to articulate this pre-process to potential buyers. The team provided clear commercial advice and ran an efficient and competitive sale process which resulted in BDO delivering maximum value for us as shareholders. I really enjoyed working with BDO and would have no hesitation in recommending them as advisors.”
Nick Rhind, CEO and Founder, CTI Holdings Limited
“We were delighted to have advised Nick and the CTI team on this investment, which will allow the group to progress on its exciting growth plans. CTI is a fast-growing technology-focused agency group, deploying multi-disciplinary teamwork to deliver expert digital services, that are highly relevant to today’s digital markets. The company’s strategy fits firmly with BDO’s own values of being collaborative and bringing a digital mindset to achieve exceptional client service. We wish Nick and everyone at CTI well with the next phase of their journey.”
Rob McCann, Partner, BDO