London, 24 June 2008: Admedia, the fast-rising out-of-home and experiential media owner, has pulled off a coup by appointing high-profile ad industry figure Garry Lace to the new position of managing director.
He formally starts on 1 July 2008 with a brief to build senior relationships with big-brand advertisers and their media, creative and out-of-home agencies and to drive an expansion strategy based on their requirements. Lace will examine growth potential in Admedia’s existing business and in complementary areas such as experiential and mobile – and look at M&A opportunities. As a renowned networker and motivator, Lace will also take responsibility for all aspects of Admedia’s corporate culture, recruitment and staff development.
Lace, aged 40, is best-known as the former CEO of top London creative agencies TBWA, Grey and Lowe. He was most recently Chairman of direct and digital agency Intelligent Marketing, while also advising private equity ventures.
He will take a significant equity stake in the business – launched by current joint CEOs Philip Vecht and Jonathan Naggar in 1995 – which has plans to more than double its size in three years following increased demand from leading advertisers. It currently operates a range of media in 200 shopping centres, all 131 motorway services and over 1,500 nightclubs, bars, restaurants and health clubs.
Lace’s decision to join the business comes just weeks after another well-known media industry figure Marc Mendoza, managing partner at Havas-owned Media Planning Group, joined as non-executive director. Jonathan Lewis, the former MD of Clear Channel Billboards became chairman of Admedia in early 2008, replacing Stevie Spring who relinquished the post on becoming CEO of Future Publishing PLC.
Philip Vecht commented:
“Garry has an exceptional mix of corporate, agency, media and private equity experience and contacts, all wrapped up in the most ebullient, charming and charismatic package. His joining underlines the potential Admedia has to expand into new markets and deliver new and exciting media vehicles for advertisers.â€
Garry Lace added:
“Over the last couple of years I have been working on private equity deals across the media sector and became interested in the scale and opportunity presented by non-traditional media. In this process one company stood out for its combination of quality product, entrepreneurial management and growth potential. So impressed was I by Philip, Jonathan and the Admedia team that I decided to join them and take up the opportunity myself rather than telling others about it. I can’t wait to get started.â€
Background to Admedia
Admedia operates and markets 23,000 washroom displays, 1,350 6-sheets and extensive experiential marketing opportunities in a wide range of leading leisure and entertainment environments including Shopping Centres, Style Bars, Pubs and Clubs, Motorway Services, Private Health Clubs and Restaurants.
Late night venues operated by Admedia include Luminar the UK’s leading late night venue operator (Liquid, Life, Oceana, Chicago Rock Cafe), Yates venues (Ha!Ha! and Yates) and 5 other leading late night venue chains
Among the 200 top Shopping Centres operated by Admedia are Lakeside Thurrock, Arndale Manchester and MetroCentre Gateshead. Admedia have presence in all major cites and offer access to more Shopping Centres than any other UK media owner.
Admedia also provides coverage of every one of the 131 Motorway Service Areas in the UK reaching 24 million visitors every 2 weeks with washroom and 6-sheet media.
Admedia products have attracted spend from the majority of the top 100 UK advertisers since launch in 1995 as well as numerous lower spending brands. This includes advertisers across all major categories including Entertainment & Media, Cosmetics & Toiletries, Motors, Food, Drink and Telecoms. Major advertisers include COI, Unilever, Sky, P&G, Coca Cola, Max Factor, Tesco, T-Mobile, Nivea, Nestle, Mercedes, Ford, Microsoft.
Other brands using Admedia within the last 12 months include Orange, Virgin Media, EasyJet, Relentless, Twentieth Century Fox, Pfizer, McDonalds, Ocean Finance and The Telegraph.
Background to Garry Lace
2006-2008 consultant to Midocean, private equity for marketing services sector
2007-2008: Non-executive Chairman, Intelligent Marketing
2005-2006: Chief Executive, Lowe London
2002-2005: Chief Executive, Grey London
2002: Chief Executive, TBWA
2001: Joint Managing Director, TBWA
1997: Board Director, Simons Palmer
1995: Board Account Director, Euro RSCG
1990: Graduate Trainee, Saatchi & Saatchi
For more information contact:
Philip Vecht, Joint CEO Admedia, on 020 7580 3633 or 07976 358530. [email protected]
or Garry Lace, MD designate Admedia, on 07768 387170
or Martin Loat or Clare Garnham Propeller Communications on 0207 087 2730 on 07769 706030
ends
