Draw complete sale to Oliver Wyman
Leading growth advisory and M&A firm, Waypoint Partners, is proud to announce the successful sale of Draw to top tier consultancy Oliver Wyman. The sale follows a seven-year working relationship between Waypoint and Draw, the UK based, strategically-led digital agency.
Waypoint Partners worked to raise the quality and breadth of Draw’s services throughout this period of collaboration, resulting in the agency quadrupling in size and securing its position within eConsultancy’s Top 100.
Fred Brown, Group Managing Director of Draw, says:
‘Draw has benefited from Waypoint’s insightful advice, useful introductions and the nurturing and mentoring of our leadership team. Building a successful business is rarely easy and Waypoint has unquestionably helped drive growth, preserve culture and retain sanity! They are genuinely different to other practices, because they recognise that the way something is said matters as much as the message itself.’
Whilst consultancies such as EY, Accenture and Deloitte have purchased leading creative shops and/or service design agencies over the last two years, the acquisition of Draw signals increased activity amid the top tier management consultancies, which, until now, has been less prominent.
Oliver Wyman provides Draw with: the opportunity for expansion, access to top table clients and large-scale, cutting-edge projects; and assistance with strategy delivery, core to the proposition developed by Draw and Waypoint. From the perspective of Oliver Wyman, the acquisition of Draw provides digital capacity and ability to create the tools and services that result from their consulting work as well as critical design thinking.
Otto Stevens, Waypoint Lead Partner on the Draw account, says:
‘Securing an acquisition like this is testament to the trusted partnership that developed between Waypoint and Draw. Our team was on hand to advise key stakeholders at critical points, be it in relation to commercial leadership, the recruitment of senior talent or overall business strategy. When it came to sale, the value that had been created in Draw, alongside its clear market proposition, meant the agency had a choice of home. Oliver Wyman’s combined culture of innovation and curiosity, as well as the truly transformational work it carries out with top global companies, meant it was unquestionably the most attractive offer on the table.
‘Waypoint’s focus on building agencies for sustainable long-term operation beyond acquisition, means we are confident this sale will signal a bright future for Draw and Oliver Wyman.’
Over the last six months, Waypoint has completed three major deals on behalf of Verve (sold to Omnicom), certain shareholders of Zone Digital (sold to Cognizant) and now Draw. Each is a great example of the benefits available to agencies that choose to work with Waypoint.