Dixon set up investment firm Salocin in October 2020 after leaving HH Global, which had acquired his Blueberry Wave business.
Edit is Salocin Group’s first buy, with Dixon describing it as a “platform acquisition” that will be the basis of a buy-and-build strategy.
Salocin has backing from NVM Private Equity, which has invested £14.8m. The consideration was £13.35m before costs and “customary adjustments for cash, debt and working capital”.
Edit’s leadership team is also taking a stake in the business.
Edit is based in London and Bath. The business was formed from the 2018 amalgamation of three firms – Occam, Response One, and Amaze – acquired by the then-St Ives group during its £300m marketing reinvention buying spree.
Occam, Response One, and Amaze involved a combined investment of up to £55.9m by St Ives between 2010 and 2013.
Edit offers a range of services spanning data, CRM, and ‘connected acquisition’ including print media, broadcast media, and homemover data. It employs more than 120 staff.
The firm had sales of £10m in its most recent financial year, to July 2021, with an adjusted operating profit of £1.9m.
Clients include Legal & General, the RAC, Morrisons, Tesco and the British Red Cross.
Dixon commented: “I have kept tabs on Edit from afar for several years, their clear strategic focus on maximising the value of first-party data, and their innovative award-winning campaigns for a wide selection of blue-chip clients covering different sectors, for both B2C and B2B, demonstrates their class-leading credentials.
“I’m looking forward to the next phase of their growth, and building on the heritage and expertise of Edit to deliver continued successes for our clients.”
Kin + Carta CEO J Schwan said the sale of Edit, and last week’s divestment of sampling specialist Relish to Whistl, marked the culmination of Kin + Carta’s “journey to a pure-play DX focused business”.
He said the cash received would strengthen the group’s balance sheet and help with future acquisitions.
“We expect further M&A in the fiscal year as part of our growth strategy and remain optimistic in our aspiration to double organic net revenue from FY21 over the next four years.”
St Ives was renamed Kin + Carta three years ago.
