ICON Corporate Finance advised the shareholders of Projectlink Motivation on the recent sale of the company to The Grass Roots Group Plc. Following the acquisition, the combined group will have turnover of £115m and become the largest motivation and Incentive company in UK.
Projectlink, founded in 1984 and based in Teddington, London, has grown
rapidly in the last few years to become a major full-service motivation
house. Its brands include Supercheques, theincentiveshop.com, Landmark and Flexi Vouchers and are used in sales incentives, reward and recognition, customer service, loyalty and long service schemes in over 300 organisations. Clients including many of the leading companies in UK such as British Telecom, Royal Bank Of Scotland, Astra Zeneca, Nationwide, Lloyds TSB, Abbey National, MFI and Oracle.
The deal was structured with cash initial consideration (which was not disclosed) and a three-year earn out. Richard Kirk, the founder of Projectlink and Stephen Humphreys (the Managing Director) will remain with the enlarged group.