Shearman & Sterling advised the lenders on the financing of the acquisition of UDG United Digital Group (UDG) by PIA Performance Interactive Alliance (PIA), a portfolio company of Equistone Partners Europe. The acquisition continues PIA’s strategy of uniting companies that lead the market within the core subsectors of digital marketing, thus enabling PIA to provide integrated customer solutions under a single umbrella. The transaction, the financial details of which are undisclosed, is subject to the approval of the competition authorities and expected to close in February 2019.
UDG was founded in 2011 and since then it has developed into one of the leading digital agencies focused on user experience. Today, it unites expertise in concept and design, digital architecture and project implementation within the field of UX. With an annual turnover of about €40 million, the company employs around 400 people across five sites in Germany. The services on offer range from strategic marketing consulting services to digital design and implementation. UDG serves prestigious clients such as Porsche, Beiersdorf, Volkswagen, Stihl, KSB and Puma.