Equistone-backed adm Group acquires Indicia Worldwide

Equistone Partners Europe (“Equistone”) today announces that it has supported its portfolio company adm Group (“adm”), a leading global marketing execution partner, with the acquisition of Indicia Worldwide, a pioneering, ROI-driven communications and production agency, from Konica Minolta, Inc. Completion of the transaction is subject to the customary regulatory approvals and projected to take place in Q2 2025. The financial terms of the deal are undisclosed.

Headquartered in London and with offices in Bristol, New York, Sydney, Edinburgh, Madrid, Singapore and Tokyo, Indicia Worldwide brings together creative, data and technology talent with production and procurement expertise to improve both marketing performance and production efficiencies for brands. 

Founded in 1992, adm Group provides sustainable brand execution and supply chain solutions for a diverse multinational client base. The acquisition of Indicia Worldwide and the subsequent merging of the businesses will see adm’s global footprint grow to 46 offices in 33 countries, serving over 800 brands worldwide. 

Since investing in the business in 2021, Equistone has worked closely with the adm Group management team on providing the business with access to the capital and experience in M&A execution to continue scaling the business through targeted acquisitions. The acquisition of Indicia Worldwide follows the acquisitions of DASS in 2023 and Lapine and Effectus in 2022.

Tim Swales, Partner at Equistone Partners Europe, said: “We are delighted to have supported adm Group’s management team on what is a hugely important transaction. Indicia Worldwide is an outstanding business, and its unique service offering will strengthen adm's ability to provide clients with the opportunity to create highly impactful consumer experiences that deliver sustainable and measurable ROI.”

Chris Candfield, Director at Equistone, added: “When we first invested in adm Group in 2021, we knew there was a significant opportunity to consolidate a fragmented market by supporting an ambitious buy-and-build strategy. This acquisition does just that, expanding adm Group’s geographic presence and significantly bolstering its service offering.”

Ed Colflesh, Global CEO of adm Group, said: "This is an exciting day for both adm Group and Indicia Worldwide. By combining our strengths, we are creating a truly unique offering in the market. Our clients will benefit from a single source for all their marketing activation needs, from strategy and creative development to production and delivery, supported by integrated workflow technology driving data-driven insights and impactful brand activation."