Leading South Coast solicitors Steele Raymond have advised London-based Cohaesus Group on the acquisition of two digital agencies, Moriyama Ltd and Molzana Ltd.
Founded in 2008 by Group CEO Richard Bundock, Cohaesus provide digital solutions and support to a number of large clients across the UK including Shell, Battersea Cats and Dogs Home, and National Grid.
After an extended period of exponential organic growth, in early 2020 the company’s management made the decision to build upon this success by evolving from a single agency to a group of digital agencies through a focus on complimentary strategic acquisitions.
“We wanted to focus on agencies that offered alternative ‘tech stacks’ to our own and to ensure that any acquisitions we made would not dilute or compete with our existing offering”, explained Nigel Aaron, the Group’s Chief Commercial Officer.
Having first approached Steele Raymond to assist with the acquisition of specialist Umbraco and Azure agency Moriyama, a deal which was completed in April 2021, Cohaesus further instructed the Bournemouth-based firm to help facilitate the acquisition of data, analytics, and technology agency, Molzana.
Completed in December 2021, the Molzana acquisition now enables the Group to meet an increasing demand from their larger clients for conversion rate optimisation (CRO) and search engine optimisation (SEO) services, a trend which grew as a result of the pandemic and seems set to continue.
Commenting on his work with Cohaesus, Shaun said:
“We are delighted to be working with Nigel and the team at Cohaesus and to be helping them to achieve their long-term goals and objectives. They have some enviable clients and an incredibly exciting and multi-dimensional business which is growing rapidly.”
“As a firm, we have always supported the technology sector, and, despite the unavoidable impacts of the pandemic, Bournemouth’s digital community is thriving. For Steele Raymond to be working with technology businesses within the region as well as helping the likes of Cohaesus to grow on a national basis further solidifies our commitment to tech entrepreneurship.”
Speaking on the outcome and of his experience with Steele Raymond, Nigel Aaron said:
“Both acquisitions are real key moments for us and are important strides towards our target of being in the top five independent group agencies in the UK by 2026.
“We were introduced to Steele Raymond as we needed a law firm with expertise in acquisitions. We built a strong relationship with both Shaun and Nick [Davies], who became a key part of our ‘deal team’.”
“These sorts of transactions obviously come with potential pitfalls and risks, and we always need experts that we trust covering all of the angles.
“We had total confidence in Shaun and the team at Steele Raymond who guided us through the process and helped to make everything work. Despite the inevitable challenges and ‘bumps in the road’, they were brilliant; I can’t recommend their services enough.”
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