Transaction overview
Residence, a U.S.-based global network of creative companies, acquired OK COOL Group Limited, a London-based creative agency, for $300 million on March 20, 2026. The deal, announced on January 29, 2026, enhances Residence’s capabilities in social strategy and creator partnerships. Founded in 2016, OK COOL is known for its expertise in social-native storytelling and has over 100 employees distributed across London, New York, and Sydney.
Deal structure and financing
Details on the equity-debt split and specific financing terms have not been disclosed. Jeffer Mangels & Mitchell LLP represented Residence as legal counsel but did not provide information about lead banks or debt providers involved in this acquisition. The transaction does not mention any seller retained stake or lock-up provisions for OK COOL’s existing shareholders post-closing. There are no reported IPO options associated with the deal.
Strategic context
Residence's rationale for acquiring OK COOL revolves around bolstering its portfolio of creative businesses, particularly in social-first and audience-centric strategies. This acquisition is part of Residence’s broader strategy to strengthen its presence globally by expanding into high-growth markets such as the UK, EU, APAC, and North America through strategic partnerships with leading agencies like OK COOL.
OK COOL's decision to sell likely stems from a desire for capital realization or strategic alignment with Residence’s vision for integrating social media expertise within an expansive network of creative companies. Following the acquisition by Gemspring Capital in 2025, Residence has continued its growth trajectory through targeted acquisitions that enhance its service offerings and geographic reach.
Regulatory path
The U.S. Federal Trade Commission (FTC) and the UK Competition and Markets Authority (CMA) were likely involved in reviewing this transaction due to the deal value of $300 million and the international nature of both companies. No specific regulatory actions or remedies have been reported as part of the approval process, which suggests that antitrust concerns may not have posed significant barriers for closing.
The deal was filed with the U.S. Department of Justice (DOJ) under the Hart-Scott-Rodino Antitrust Improvements Act and similarly reviewed in the UK through mandatory filings under EU merger control regulations. While no specific dates for HSR or EU filings are provided, these steps would typically precede clearance within a few months before the deal’s closing date on March 20, 2026.