London-based advertising agency Karmarama has offloaded a 50% stake to private equity firm Phoenix Equity Partners (PEP), The Guardian reports. Financial details of the deal have not been disclosed.
The newly formed Karmarama group of companies will now be headed by Charles Watson as its Chairman, who will look for acquisitions in the digital, data, experiential and direct marketing sectors. SI Partners advised Karmarama on the deal.
Click here for the story from The Guardian.