• Only Creative Entrepreneurs (Only), is a full-service digital marketing network, enabling clients to optimally communicate with their stakeholders, covering the entire marketing spectrum from strategic advice to design, content and media, all supported by a strong technological backbone
  • Only has been pursuing an active buy-and-build strategy, and completed eight acquisitions in the last two years
  • Only aims to make a real impact for its stakeholders, showcased by its extensive portfolio of assignments on important themes such as climate, health, and public transport in an era of major transition
  • Abenex is a pan-European private equity firm specialising in mid-market investments, with a clear focus on creating sustainable value via multiple offices across Europe


  • DC Advisory acted as exclusive financial advisor to the shareholders of Only on its partnership with Abenex
  • DC Advisory provided comprehensive sell-side M&A advisory services, including overall transaction strategy and tactics, lender education, and close support for negotiations and related transaction documentation
  • DC Advisory supported Only’s investment case, which is underpinned by an attractive organic growth trajectory and high margins, complemented by an accretive consolidation strategy in a fragmented market
  • DC Advisory ran a competitive auction process to identify a suitable partner to support Only’s next phase of growth
  • Following the bidding process, transaction terms were agreed in late April 2024


  • Only has partnered with Abenex to become one of the leading full-service digital marketing agencies in North-Western Europe, with a clear aligned commitment to sustainability
  • Abenex will obtain a majority share in Only with the balance held by the company’s founding management team, key personnel and several informal investors
  • This transaction represents DC Advisory’s extensive sell-side and private equity expertise in the Benelux region. Other recent transactions include the sale of software testing firm TestingCo to Exponent, and of SPC Group to Mentha Capital
  • After customary closing conditions were fulfilled, the transaction completed on 30 May 2024

“We were very well supported and advised by the DC Advisory team, who both found the right private equity partner for our next phase of growth, and unburdened the entire transaction process. We are highly excited about our prospects in this setup and grateful for the support we have received from DC Advisory, from start to finish.“

Frans de Vries
Founder and CEO, Only

“We enjoyed working with Only and its shareholders to secure a suitable partnership for the company’s international growth ambitions. The outcome reflects our core value proposition very well: we combine local proximity with global sector expertise in digital marketing and strong inroads into the relevant private equity community.”

Robert Ruiter
Co-CEO, DC Advisory Benelux