What has led to Dirk’s departure at Logistik?
When Dirk started Logistik, it was never his ambition to build the business to sell it. This has come about now because he has reached a point in his life where he wants to fulfil other ambitions. An opportunity came up for him and the timing felt right as Logistik now looks towards its next phase of development.
Tell me about the deal.
Logistik was owned by a total of seven shareholders, including myself and Dirk. Now, the business has bought Dirk’s 43% share for a seven-figure sum.
Dirk has been very considered and reasonable in what he has asked for in terms of the price. If he had gone to the open market he could have got a much higher price than what he asked for.
What are your plans for Logistik?
Logistik has evolved to become so many different things to our clients and we perhaps haven’t been strong enough in what our own identity is. My ambition is to narrow down some of things we do and to be clear on the things we’re really brilliant at. Uniqueness in business is very hard to find.
The plan is to still be a successful events business, but we want to re-shape the agency so we are recognised as an intelligent creative communications agency. The cynics would say we’re an events business that does some communications work, but if you look at our best work it is under the communications banner. We have worked on the re-launch of TSB, the launch of BT Sport, M&S’s food strategy and, most recently, BMW.
What are your growth targets?
Turnover this year will be around the £14.5m mark and our plan is to grow this to £20m within five years. The plan is to triple the size of our consulting and digital business, double the size of our film division and also grow our events, production and studio business. We will look at acquisitions and growth overseas in the US and the Asia-Pacific region, too.