Mergers and acquisitions in the advertising space are very rare in the current COVID-19 ravaged economy, as investors are generally risk averse. And when a deal happens, one is certain that it is the real deal. That is why Matrix Communications Group’s recent acquisition of SoulProviders Collective (SPC) is a more than a subject of interest in that it involves a growing black-owned company buying an experienced white-owned creative agency. Small wonder, the general view in the digital and communications fraternity is that the transaction marks a new chapter in advertising.

For Kgaugelo Maphai, chairperson of Magnia Investment Holdings (MIH) and Chief Executive Officer of The Matrix Communications Group (MCG), the decision to acquire SoulProviders did not need a second thought as the Group saw huge potential in the fast growing company. “Our investment policy is to partner with owner-managed businesses which allows for agility and swift decision-making and this acquisition solidifies the group’s new positioning which will be announced later this month,” he says, adding that MCG has partnered with the management team, who are shareholders in the company, via a trust that was set up a few years ago.

Chirping in, Dineo Mahloele, managing director of MCG, says the acquisition of SPC as a development that could not have come at a more opportune time. “We are happy to acquire a youthful agency with a rich culture, and an abundance of energy, that enables us to resolve clients’ challenges with imaginative, creative solutions.

Sarah-Jane Boden, founder and creative director of SPC, is confident that, in Matric Group, they have a partner with a common vision. “We’re so excited for SPC to be joining the Matrix Group. I have looked long and hard for a group that is not only founded in South Africa, but one that shares our passion for and commitment to pan-African creativity and success. Hearing Kgaugelo Maphai’s vision, I knew that the Matrix Group would be the right family for our vibrant agency to join,” she comments.

Boden will step down at the end of June 2021, and the agency will appoint a new managing director to ensure a seamless handover to the new owners.

SPC, which celebrated its 10th birthday on 7 May, 2021, is a 100% locally-owned, owner-managed pan-African creative agency with vast experience in the ever-evolving digital and communications space. Founded by Sarah-Jane Boden in 2011, the SPC team has worked across a multitude of local, pan-African and global brands and organisations, creating outstanding creative content and campaigns that reflect their signature progressive touch and cross-platform expertise.

SPC has services diverse clientele from different sectors over the past few years. Its current clients include, but are not limited to, the AMKA group, Decathlon, Good Governance Africa, the V&A Waterfront, Flame Studios, Africa Check, Didi Global and Vivo Energy.

MCG’s acquisition of SPC underlines Maphai’s nose for taking the calculated risk of investing in small companies with a long-term view of growth.

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