North East marketing agency ramarketing has received investment from Manchester-based private equity firm NorthEdge to help it ramp up growth plans.
The partners say the undisclosed investment will support expansion of ramarketing's services and an increased international presence - including growing its footprint in the US.
Founder and global president of ramarketing, Raman Sehgal, said: "Finding the right partner for our next phase of growth was critical, and from the outset, NorthEdge had a strong understanding of our business, our industry, and our aims for the future, whilst mirroring our own values.
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“We are evolving into the type of next-generation growth partner that our clients will need in the future. Data-driven, embedded in industry and truly global. That type of ambition requires the right partner, hence why I am really looking forward to growing the business in partnership with the NorthEdge team over the coming years.”
In February, ramarketing - which employs about 50 people across offices in Newcastle, Manchester and Boston - said it was expanding into Europe.
NorthEdge said it is backing Mr Sehgal, managing director Emma Banks and ramarketing's team to deliver ambitious growth plans based increased outsourced marketing spend across the life sciences market.
Ms Banks added: “It’s a hugely exciting time for the global life sciences industry, and we are perfectly positioned to grow our market offering in line with the demand. Our headquarters in Newcastle is part of a fast-growing life sciences hub serving a global market, with 86% of North East pharmaceutical production exported internationally, while our US base in Boston sits in the epicentre of the global life sciences corridor, so we have all the horsepower we need to support our clients across the world.
“The support from NorthEdge will enable us to supercharge our creative, content and digital service offerings, while also investing in our diverse and talented team – providing genuine technical marketing expertise and deep sector knowledge, delivered the ramarketing way, across the life sciences industry.”
The investment was funded from NorthEdge’s £125m SME Fund I, and led by Ray Stenton, Liam May, Maninder Minhas and Sam Allen. Liam and Maninder will join the board on behalf of NorthEdge.
Mr May, director at NorthEdge said: “Since first meeting Raman, Emma and the rest of the team, we have been hugely impressed by their passion for the business and the scale of their ambition. NorthEdge has a great track record of helping Ƶ businesses flourish internationally and we’re looking forward to supporting ramarketing as it continues its international growth.
“Healthcare continues to be a key area of focus for NorthEdge, with the investment in ramarketing representing our third deal in the sector in the last 18 months. We also recognise the North East is a great place for investment, evidenced by an increasing volume of start-ups and a number of initiatives designed to turbo charge growth in the area – with health and life sciences being identified as a key growth sector for the region. ramarketing is a great example of a quality business based in the region that is shaping a global market, and we are excited to be a part of its journey.”
NorthEdge received corporate finance and tax structuring advice from PwC, legal advice from Hill Dickinson, commercial due diligence from GRAPH, financial and tax due diligence from BDO, organisation effectiveness advice from Catalysis Advisory, insurance due diligence from Lockton and cyber due diligence from Mazars.
The management team at ramarketing received corporate finance advice from Lincoln International, legal advice from Weightmans, and financial and tax advice from Dyke Yaxley and Deloitte.
