December 2019

Transaction Background

Dept is a leading independent digital agency based in Amsterdam. Named the second fastest-growing large agency in the world by Adweek in 2019, Dept delivers end-to-end digital experiences for brands and businesses worldwide such as Bose, Tesla, Samsung, Formula E, Indigo and Beiersdorf.

Founded in 2015, the Dept team has grown from 150 people in The Netherlands to more than 1,500 people in thirteen countries across Europe and the Americas. During this period, Dept’s revenue rose tenfold to over 150 million Euros.

This investment from Global investment firm The Carlyle Group (NASDAQ: CG) will enable Dept to continue and accelerate its growth in the fast-paced digital agency sector.

Our Role

JEGI|CLARITY represented and advised the shareholders of Dept on all aspects of the transaction.

Working with the team for more than a year prior to formally going to market, we helped prepare and position the business for its next stage of growth. We were responsible for managing a highly competitive process which included identifying and engaging with multiple prospective international partners, both trade and private equity. We led negotiations on pricing and deal structure as well as being responsible for the overall planning and orchestration of the transaction process.

Ultimately, we played a critical role in achieving an outstanding result for the founders, management team as well as the exiting shareholders, which delivered both a very strong valuation as well as providing a partner that shared the same principles and growth ambitions as Dept.

“JEGI |CLARITY came to us highly recommended and helped navigate what, at times, was a complex process using their experience to deliver multiple options that ultimately met all stakeholder objectives –ourselves as a leadership team, our 90 shareholding Depsters, as well as our valued investor, Waterland Private Equity.

Put simply, together with the JEGI|CLARITY team, we achieved a fantastic result and joined forces with the partner that will help us realise our #DeptWorldwide global ambitions

Dimi Albers
Chief Executive Officer, Dept


“JEGI|CLARITY are a highly focused and driven advisory team. We greatly valued their sector expertise, professionalism, tactical advice and judgement which was critical to delivering a premium outcome for all parties

Wouter Roduner
Partner, Waterland Private Equity