Cognetas, the independent European mid-market private equity firm, has backed portfolio company FullSIX, the interactive and relationship marketing firm with clients including HSBC and Mars, in the acquisition of Grand Union. Entirely financed in equity, this bolt-on acquisition will give FullSIX the opportunity to accelerate its growth in the UK.

Founded in 2000 by Matt Nicholls and Rob Forshaw, Grand Union is one of the leading independent digital agencies in the UK, with nearly 80 employees and major clients including Waitrose, Boots, Coca-Cola and Procter & Gamble.

Cédric Rays, Partner at Cognetas, said: "In a booming industry, FullSIX is perfectly positioned for growth through both organic means as well as bolt-on acquisitions. This transaction marks a very exciting phase in the company’s development, giving us an excellent management team based in the UK, as well as lots of opportunities to diversify and to consolidate our position in this important market."  

Cognetas acquired the international activities of FullSIX in August 2008. With a turnover of € 65m in 2009 and 635 employees in 7 agencies, FullSIX operates in one of the fastest growing areas of marketing.

Marco Tinelli, President of the FullSIX group, said: "This acquisition brings our international management team two visionaries who will help us to accelerate the development of the group internationally. Grand Union is committed to becoming a global network." 

In addition to becoming Presidents of FullSIX in the UK, the founders of Grand Union will become shareholders of the FullSIX group and members of the group management board.