WPP has taken a stake in Indianapolis-headquartered motorsports marketing company, Just Marketing International (JMI).
Founded in 1995, JMI employs more than 120 people between its headquarters and offices in London, Singapore, Hong Kong, Charlotte (North Carolina) and Daytona Beach (Florida).
JMI (Just Marketing International), the global leader in motorsports marketing, announces today that WPP, the world’s largest communications services group, has made a strategic investment in the company.
The two companies said the investment represents a strategic affiliation by both parties to leverage expertise and elevate client insights and solutions.
Spire Capital, which took a majority stake in JMI in 2008, remains the principal shareholder, while Zak Brown, the company’s founder and CEO, is the second largest shareholder. WPP takes a minority equity stake and has representation on JMI’s board. Credit Suisse Customized Fund Investment Group is the final shareholder.
Brown said WPP’s investment represents a significant development for the company and an endorsement of its expertise from the biggest global player in the industry.
“Our ability to tap into the WPP network will bolster our client offerings, enhance operational excellence and drive accelerated growth. Quite simply, WPP is the turbo for JMI’s engine,” he said.
Andrew Scott, director of corporate development, WPP, said his group is a strong believer in the marketing power of international motorsports for global brands. “JMI is a leading company in the sector so this investment is a natural fit for WPP and will help to offer our clients exciting new opportunities in the field of motorsports.”
The investment follows WPP’s announcement in May of a global licensing collaboration with sports, fashion and media company, IMG Worldwide, to offer product licensing and merchandising services.