Spire Capital Portfolio Company Sale
October 25thth, 2013
London, Indianapolis: Chime Communications PLC today announced the strategic acquisition of JMI, a global marketing firm focused on motorsports. JMI will become part of its sports marketing division, CSM Sport & Entertainment.
In a deal announced by CSM Sport & Entertainment Executive Chairman, Lord Coe, and JMI Founder & CEO Zak Brown, Chime acquires JMI as a wholly-owned subsidiary. In doing so the company is represented in global motorsports and establishes its presence in the US marketplace for the first time.
JMI was founded by Zak Brown in 1995 and employs approximately 130 people in the US, UK and Hong Kong. It offers a host of integrated marketing services, operating predominantly in Formula One™, NASCAR and IndyCar. JMI has key relationships throughout the sport and a stable base of large blue-chip clients.
Lord Coe commented: “This is the most sizeable acquisition CSM Sport & Entertainment has made to date and signals our strategic entry into the exciting world of motorsports and the important US market. This is a deal that makes sense for CSM Sport & Entertainment on multiple levels. It will bring value to shareholders, clients and employees alike, as motorsports and the US are two untapped areas for CSM Sport & Entertainment and to be truly global we have to be in them. On top of that, Zak's record and leadership in driving major sponsorship deals will be a significant boost for our overall business."
Zak Brown will remain CEO of JMI within the Chime Group, heading up a new motorsport division and also becomes Global Head of Business Development within CSM Sport & Entertainment.
Brown commented: "This is the most exciting moment in JMI's history. CSM Sport & Entertainment was the perfect choice to take JMI forward and we couldn't be more delighted that our futures are bound together. We recognised the synergies from the start and the potential for our clients and our people is massive.”
Jim Glover, CEO of CSM Sport & Entertainment said: “JMI’s reputation and performance are both outstanding and make the company a natural choice for CSM Sport & Entertainment as an acquisition. As the industry leader no-one knows global motorsports marketing like JMI and having Zak and his talented colleagues on the team will help build on CSM Sport & Entertainment’s leading position in the industry."
JMI creates motorsports-focused marketing solutions for Global 1000 companies, leveraging its knowledge, relationships and expertise to deliver creative, customized programs for organizations that seek a differentiator through motorsports sponsorship to drive their business.
JMI is a full-service agency representing brands and corporations in all forms of premier motorsports worldwide. The agency operates from offices in Indianapolis, London and Hong Kong and services clients across global motorsports including Formula One™, NASCAR, IndyCar, the World Rally Championship, MotoGP, the FIA World Endurance Championship, NHRA, GRAND-AM and the American Le Mans Series.
JMI’s client list comprises leading corporations, brands and individuals such as Castrol, CLEAR, Crown Royal, DIAGEO, DIRECTV, Doug Yates, Farmers Insurance, GlaxoSmithKline, Hoosier Tire, Jeff Gordon, Inc, Johnnie Walker, John Force Racing, LG Electronics, LiftMaster®, Lucozade, Maximuscle, Mazda, PNC, POSITEC, Rexona, SUBWAY® Restaurants, UBS, Unilever, UPS and Verizon Wireless.
Follow us on Twitter
About CSM Sport & Entertainment
CSM Sport & Entertainment is a division of Chime Communications PLC. It is headed by Lord Coe as Executive Chairman, Group CEO Jim Glover, Group COO Ian Priest and Deputy Chairman Edward Leask.
CSM Sport & Entertainment comprises of four internationally recognised businesses:
Essentially: offering a forward-thinking approach to sport and entertainment marketing. Specialising in rights sales, brand consulting, athlete management and events with a particular strength in rugby, cricket and music. Clients include Unilever (Dove, Sure4Men and Brut), IRB, ERC, WRU, SRU, ECB, the 9 international UK cricket venues, Tough Mudder, RFL, SAB Miller and Investec.
Fast Track: helping clients build deeper connections with their target markets via brand consultancy, PR & communications, event management and event city bidding. Clients include HSBC, Emirates, Land Rover, National Lottery and Mubadala.
ICON: bringing brands to life through branding and experiential services within the worlds of sport, commerce and culture. Clients include FIFA, LOCOG, UEFA Euro tournaments, The Open, Samsung, adidas and the Premier League.
iLUKA: delivering full service, cutting-edge global event activation incorporating; hospitality experience, strategic advice, merchandise and operations. Clients include BP, EDF, Cadbury, GSK, Samsung, NBC, Visa and the IOC.
The team manages 575 employees worldwide across 19 offices in 13 countries; Abu Dhabi, Adelaide, Auckland, Cape Town, Dunedin, Doha, Dubai, Glasgow, Hong Kong, London, Madrid, Melbourne, Moscow, Paris, Shanghai, Sochi, Sydney, Rio de Janeiro and Tokyo.