Houlihan Lokey Advises PIA Group
Houlihan Lokey is pleased to announce that it has advised PIA Group on the completed sale of United Digital Group (UDG) to MSQ, a portfolio company of One Equity Partners.
UDG is a best-in-class customer experience leader and tech powerhouse, bringing together customer-centric design and creativity with deep technical expertise in software engineering and delivery for long-standing global brands, including Porsche, Fendt, Bosch, and Vaillant. Its expertise includes consulting, strategy, branding, creativity, CX, media, technology, CRM, data, and analytics. Founded in 2011, UDG has been part of PIA Group, owned by private equity firm Equistone, since 2019. UDG’s 350-strong team across Germany and Spain will continue to be led by Co-Managing Partners Mathias Reinhardt and Florian Frey.
MSQ is a next-generation creative, technology, and media company creating brand momentum for clients. It is one of the world’s fastest-growing marketing groups, offering flexibility, choice, and transparency to clients who can work with an MSQ agency on an individual basis or with a joined-up team designed specifically around their needs. MSQ employs more than 1,500 people across 15 global offices.
MSQ’s vision of creating an international digital customer experience and tech powerhouse will be delivered through collaboration between UDG and MSQ’s colleagues across Europe, North America, and Asia. UDG’s capabilities will complement MSQ teams delivering digital experiences, products, and transformation for clients in the U.K. and U.S. MSQ’s depth and breadth of capabilities, together with its global footprint and collaborative culture, attracted UDG to join as it looked for its own growth platform. The move will allow UDG to grow its presence into more markets where its clients operate while presenting opportunities for MSQ’s agencies to expand into Europe.
Houlihan Lokey served as the exclusive financial sellside advisor to PIA Group.