Sports sponsorship consultancy Right Formula has acquired the marketing services agency, Marketing Minds.
The deal will see the Surrey-based Marketing Minds, founded 26 years ago by the outgoing owner, John Stoakes, relocate to Right Formula’s central London headquarters at the end of this month.
The acquired agency’s current clients, including ExxonMobil and Dell, will also join the Right Formula roster.
Right Formula founder and chief executive Robin Fenwick told SportBusiness Sponsorship that Marketing Minds has been the retained lead agency for ExxonMobil’s Formula 1 activation for more than two decades. It has been working with Dell over the last couple years on a project basis that has included both Formula 1 and Golf activation programmes.
Dell is a sponsor of the McLaren Racing team, while Mobil 1 is a sponsor of Aston Martin Red Bull Racing in F1 and Porsche in Formula E.
Fenwick said: “We have a strong relationship with both McLaren and Aston Martin Red Bull Racing and we believe this will be further strengthened by working with Dell and ExxonMobil respectively.
“Porsche is, of course, new to Formula E this season so it will be a pleasure getting to know the team and seeing how we can collectively add value to their partners.”
The addition of the Marketing Minds team will lead to 10 members of staff moving to the new office, creating a 55-strong employee base across the group. Right Formula hopes to add further to the team as it supports Marketing Minds’ client base with additional services and capabilities.
The move consolidates Right Formula’s position as the as the largest motorsports agency in Europe by number of clients. Fenwick remarked: “The quality of our service is more important than the quantity, but we understand that today Right Formula consults to more brands interested or involved in motorsport than any other consultancy.
“It’s an area in which we have in-depth expertise and we believe our success in this area has resulted from the value we have brought to numerous clients over the last decade.”
Founded in 2009, Right Formula is best known for commercial and activation work with clients including SAP, Epson, Kia Motors, Hilton Hotels, Red Bull, Sky Sports, Aggreko, Pirelli, Logitech Loch Lomond Whiskies and Genpact.
In recent years, its sponsorship work has spanned properties in golf, football, esports, rugby, sailing, Olympics, Cirque du Soleil, Moto GP and extreme sports. This has allowed clients to be offered a “full range of properties that suit their needs and deliver against their specific objectives”, according to Fenwick.
He said there was an appetite for further acquisitions in 2020, saying: “We are looking to grow both organically and through acquisitions of appropriate businesses; this will allow us to further increase our capabilities as well as widen our client portfolio.”