AJF Partnership set to be acquired by soon to list group, Trimantium
Melbourne-based creative agency AJF Partnership is set to be acquired by new digital business Trimantium GrowthOps, currently working towards a stock market float.
Trimantium GrowthOps plans to make eight acquisitions once officially launched on the ASX including AJF Partnership, creative agency Khemistry, branding agency Voodoo Creative along with other digital service providers.
GrowthOps leadership team
Once the eight acquisitions have been completed the business will have their brand names retired and the organisation will trade as a single unit.
Andrew Fabbro, co-founder, partner and business director at AJF Partnership, said: “Since we founded AJF in 2005, we’ve grown to become one of Australia’s largest and most effective independent creative agencies, with over 100 talented and dedicated staff.
“We’ve been looking for opportunities to expand our offering to clients and move into new geographies. GrowthOps provides us with these benefits, and importantly protects the creative DNA in our culture. We’re excited to be joining with like-minded entrepreneurs who have built and run successful businesses.”
A company spokesperson said Trimantium GrowthOps – which will have offerings in markets including management consulting, technology, advertising and creative – will act as a single entity, making it different from Enero – the owner of BMF, Naked, Frank and Dark Blue Sea – which acts as a holding company.
The other companies being acquired include IT consultant Digital Moshi, software provider 3wks, app developer jtribe, technology supplier KDIS and leadership development and executive coaching provider Institute of Executive Coaching and Leadership (IECL).
Mumbrella understands all of the founders in the eight businesses are continuing and will be shareholders in the company once it is listed on the ASX.
AJF Partnership’s three founders Andrew Fabbro, Andrew Foote, Adam Francis and ECD and partner Joshua Stephens will remain partners.
In August ASX-listed digital services consultancy RXP Services acquired creative agency The Works and in May Accenture bought The Monkeys and Maud.
Phillip Kingston, the founder and managing director of GrowthOps, said the new holding group gives agencies and businesses an opportunity to grow in revenue and market share.
“Our clients want advice from a single, accountable provider with entrepreneurial and management consulting skills to identify opportunities, tech and ops skills to build innovative products, and creative talents to reach consumers and gain mindshare.”
Paul Mansfield, managing partner of GrowthOps, said the holding group offers clients an “end-to-end entrepreneurial partner for companies” who are looking to develop new products or services.
“Directors and CEOs aren’t worried their businesses will be eaten by one of their historical competitors but rather by an outsider whose motives, playbook and investment horizon they do not fully understand.
“We think it won’t be the strongest or biggest organisations that will survive continual technological change and the rise and mobility of international insurgents, but the organisations most willing and able to adapt.
“We are a group of entrepreneurs applying our experience and knowhow to corporates and the public sector,” Mansfield added.
According to a $70m IPO valuation, Trimantium GrowthOps has a value between $142 million and $166 million.
Abigail Dawson was Mumbrella's senior content journalist covering event content. She left Mumbrella to move into an agency role in 2020.
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Trimantium Growthops
Voodoo Creative
‘in a similar play to Enero’ is a phrase that should strike fear into lots of hearts
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AJF are fantastic at what they do. A very good investment by GrowthOps and huge win for the partners. The times are a changin’
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Sounds like BlueFreeway all over again. I hope I’m wrong but owners of the company beware , what real value does the holding company provide ? Access to clients, shared services , better process and operation …..if not then they are building their own value off the back of the ‘acquired’ companies.
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When reading this I did wonder if Trimantium even knows that Blue Freeway happened.
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To flesh peddler whoever that idiot may be Matt Melhuish has done more for the industry than many people realise and has done a superb job of turning around the Enero business.
AJF are a brilliant bunch of people and have a wonderful culture in the agency. A sleeper agency to some extent but quietly beavering away to add real commercial value to their clients, to their staff and their partners.
To history repeats itself…my advice is to actually understand history. Go back to Jaques MaCaskill in the 70’s, the structure that Greg Daniel tried to put together etc.
There have been all sorts of models over a long time. What makes it work is the calibre of the people and the way the way the people who are genuinely excellent at what they deliver, and continue to contribute to the new entity and are rewarded for their continuing involvement.
Knowing the partners at AJF and the Monkeys, as another recent example whom are all excellent at what they do, they are both set up to shine as they enter into the next iteration of their businesses. Always room for great, robust businesses competing with each other.
As an aside if ‘Fleshpeddler’ and ‘History’ had the bottle to identify themselves it would add much more weight to their opinions. Frankly anonymous opinions are fatuous.
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because all the agencies who sold their businesses to Photon lived happily ever after?
because the management and staff at Enero’s agencies aren’t constantly frustrated by the limitations of being owned by a cash strapped local holding company that offers no economies of scale, no inter-group growth opportunities and no access to global or international learning or clients?
Matt is a brilliant and talented executive who has acted in the best interests of his shareholders as he should. that doesn’t mean that everyone else has benefitted
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The only people to do well out of this will be the people that short it.
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AJF do pretty good work, hope they don’t get neutered and managed into the ground.
Cough, cough… Photon Group… There’s a reason it changed its name to Enero. something about a lot of baggage.
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