A digital agency has been bought by a private equity business in a £6 million deal.
Olive Jar Digital, which has its headquarters in Rushden, Northamptonshire, has been acquired by IW Capital.
The investment will support the consultancy’s expansion into the private sector, building on the partnerships it already has with the public sector.
Olive Jar Digital was founded in 2015 and has worked for organisations such as the Department for Education, the Government Digital Service and the NHS Leadership Academy.
Private sector clients have included Victoria Beckham, Credit Suisse, Faberge and House of Fraser.
Not only will the investment allow Olive Jar Digital to grow, but will allow it to work on bigger and more complicated projects.
Co-founder Rajesh Thakrar said: “I am truly excited about our new partnership with IW Capital, where we can build on Olive Jar’s great achievements and take it to the next level, whilst maintaining our passion for all things digital.
“This is a super opportunity for us to grow what we do well; transform digital services intuitively.”
Fellow co-founder Olivia Nixey said: “I’m extremely proud of Olive Jar, the team that we have in place and what we have achieved so far together.
“I’m very much looking forward to working with IW Capital to build on that success.
“This partnership enables Olive Jar to evolve even further, to move into new markets and to grow at a much faster pace. I look forward to a successful future together.”
IW Capital chief executive Luke Davis said: “We at IW Capital are pleased to share that we have just completed the leveraged buyout of Olive Jar Digital Group, enabling equity release to the founders.
“IW Capital is fortunate to be enabling the experienced Olive Jar founders who will continue to be involved in the day to day operations with existing clients and new customers.
“They have a clear strategy to grow and leverage the existing business to a new level, and we are proud to be a part of their growth and future plans.”
