Chime Communications Acquires Jmi

Just Marketing International (JMI) has been sold to Chime Communications in an acquisition that will see the global motorsports agency become part of Chime’s sports marketing division, CSM Sport & Entertainment. 

The deal was confirmed early on Friday and marks a first entrance into motorsport and the United States for CSM Sport & Entertainment, which has been headed by Lord Sebastian Coe as executive director since October last year.

After being founded in 1995 by Zak Brown, JMI has gone on to establish itself over the last decade and now represents clients in Formula One, IndyCar and NASCAR. 

It brokered the current deals between UPS and Ferrari, Unilever and Lotus and GlaxoSmithKline’s wide-ranging agreement with McLaren. 

In a statement from JMI, the agency confirmed that it would become a ‘wholly-owned subsiduary’ of Chime. 

Earlier this year JMI majority shareholder Spire Capital, which held 60%, announced it had decided to sell its stake – while Brown and advertising giant WPP retaining a 20% stake each.

In the new structure, Brown will remain chief executive of JMI and take up a new role as global head of business development for CSM Sport & Entertainment.

Brown said of the deal: ‘This is the most exciting moment in JMI’s history. CSM Sport & Entertainment was the perfect choice to take JMI forward and we couldn’t be more delighted that our futures are bound together. We recognised the synergies from the start and the potential for our clients and our people is massive.’

Lord Coe added: ‘This is the most sizeable acquisition CSM Sport & Entertainment has made to date and signals our strategic entry into the exciting world of motorsports and the important US market. This is a deal that makes sense for CSM Sport & Entertainment on multiple levels.’

‘It will bring value to shareholders, clients and employees alike, as motorsports and the US are two untapped areas for CSM Sport & Entertainment and to be truly global we have to be in them. On top of that, Zak’s record and leadership in driving major sponsorship deals will be a significant boost for our overall business.’

Jim Glover, CEO of CSM Sport & Entertainment commented: ‘JMI’s reputation and performance are both outstanding and make the company a natural choice for CSM Sport & Entertainment as an acquisition. As the industry leader no-one knows global motorsports marketing like JMI and having Zak and his talented colleagues on the team will help build on CSM Sport & Entertainment’s leading position in the industry.’