#23: The Impact Of Health On Deciding When To Sell A Corporate Communications Agency

Entrepreneur Peter Kemp, MD of Global 3 Digital, has navigated the dynamic landscape of digital corporate communications. With the establishment of his agency in 1999, Kemp successfully led the company through significant growth, culminating in its strategic sale in 2014. Kemp's journey unfolds with insights into the acquisition process, emphasizing a streamlined due diligence period. Beyond the sale, Kemp ventured into a new endeavor, Flint, showcasing his resilience and adaptability in the evolving realm of digital ventures. In this episode Peter Kemp is engaged in a discussion with Barnaby about his journey in establishing, growing, and eventually selling his digital corporate communications agency. Founded in 1999, the agency addressed a market gap by providing websites for quoted companies. Kemp shared insights into the intricacies of negotiating the sale with a larger competitor backed by private equity. The acquisition, which took place in 2014, involved an all-cash deal. Kemp highlighted the critical aspect of a streamlined six-week due diligence process, despite the challenges it posed. The integration phase, while presenting some differences in technological approaches, proved successful, with the acquiring company retaining many of Global 3 Digital's clients seamlessly. Kemp reflected on the impact of personal health considerations on the decision to sell. Post-acquisition, Kemp faced constraints due to a three-year non-compete clause but eventually launched a new venture named Flint with two former colleagues. Flint, a platform built on a proprietary SAS platform, enables the creation of corporate websites for listed companies without the need for web development. The focus is on scalability and a non-immediate plan for sale, showcasing lessons learned from the previous venture. The conversation also touched on Kemp's advice for business owners considering a sale, emphasizing the importance of maintaining open relationships with competitors and keeping meticulous records for due diligence. The episode provided a comprehensive exploration of Kemp's entrepreneurial journey, shedding light on the strategic decisions and challenges inherent in building and selling a digital agency. Join our mailing list: http://eepurl.com/iC8sIY Come to The Exit Plan Live on the 31st January 2024: https://www.eventbrite.co.uk/e/the-exit-plan-live-tickets-765231597307