GlobalData acquires MEED Media from Ascential for £17.5M

December 8, 2017 — Fusion DigiNet

GlobalDataGlobalData PLC has announced the acquisition of MEED Media FZ LLC  from Ascential PLC for a cash consideration of $17.5 million. MEED, formerly known as the Middle East Economist Digest, provides premium business information content with an industry focus on infrastructure and projects in the Middle East. The business services its growing client base principally through annual subscription contracts.

As reported on Fusion DigiNet in January 2016, GlobalData Holding Limited, a company then owned by Mike Danson and Wayne Lloyd, was acquired by Progressive Digital Media Group Plc. Mike Danson is Executive Chairman of Progressive Digital Media Group.

Commenting on the acquisition Bernard Cragg, Executive Chairman of GlobalData, said: “MEED gives the Group the opportunity to further expand into a key region and adds an additional industry vertical to our offering whilst maintaining our disciplined investment criteria of premium proprietary content and strong renewable subscription based revenues.”

UK, London & UAE, Dubai

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LG Energy Group acquires Guild Energy

December 5, 2017 — Fusion DigiNet

LG Energy Group logo smlLancashire based LG Energy Group has acquired Guild Energy, an energy procurement business based in Liverpool. The terms of the deal were not disclosed.

LGE Managing Director, Asif Rizvi believes “These are exciting times for both the LGE and Guild Energy. The acquisition of Guild Energy further enhances our customer offering as the merger of SME with our current Industrial and Commercial products allows us to provide a more holistic approach to the market. The sharing of people, knowledge and systems across the companies will only strengthen the management and direction of both businesses”.

Karen Trepte remains as Managing Director of Guild Energy while Co-founder Paul Trepte becomes group risk manager within the wider Rigby Organisation, which is controlled by Simon Rigby, chairman of LG Energy Group.

UK, Blackpool & Liverpool

 

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Information Publishing PLC Acquires Financial Data Provider CapitalTrack

November 27, 2017 — Fusion DigiNet

CapitalTrackInformation Publishing PLC has announced the acquisition of CapitalTrack, a data provider of Floating Rate information to the Fixed Income market. The terms of the deal were not disclosed.

Established in January 2000, CapitalTrack Ltd is a financial data management company based in the UK, that maintains the largest independent, on-line Repository of static and event-based operational data for Fixed Income securities, with special focus on the Floating and Variable Rate space.

Michael Kaufman, Chief Financial Officer of Information Publishing, said, “We are pleased to welcome the CapitalTrack clients, suppliers and team into the Information Publishing PLC family, and to be adding their first-class database – covering Floating Rate, Asset Backed and Structured Securities markets – to our expanding range of financial reference data products. This is the first of several acquisitions that we will be making to add to our datasets”.

London, Pewsey, UK

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PenskeMedia acquires FashInvest

November 27, 2017 — Fusion DigiNet

PensPenske Media CorporationkeMedia Corporation and its subsidiary Fairchild Media today announced the acquisition of FashInvest, the innovator in connecting the fashion-tech, fashion, retail, and branded consumer goods sectors with the finance and investment sectors. This acquisition follows Penske Media and its subsidiary Fairchild Media’s acquisition last month of Sourcing Journal, a media brand for global executives focused on the sourcing and manufacturing industries. The financial terms of the deal were not disclosed.

FashInvest, known for being “where fashion meets finance,” began as a series of educational industry events in 2009 and has rapidly evolved to now be a leading global media resource. FashInvest’s daily online news posts, reports, and exclusive interviews on the emerging fashion tech and fashion arenas have established it as a news authority for a growing number of fashion-tech and fashion entrepreneurs seeking the latest news on who has received funding, who is providing the funding, and what strategies are attracting financing.

“FashInvest has tapped into the vital intersection of finance and fashion—a business that has been built over the last decade on discovering and developing emerging fashion and retail brands and their access to capital markets.  Fairchild Media has consistently been the leader in coverage of well-established global fashion brands, and with the acquisition of FashInvest the opportunity to deepen our coverage of emerging companies, start-ups, and the financial institutions (VC’s, Private Equity, etc.) that are shaping the future fashion industry is dramatically enhanced,” said PMC Chairman and CEO Jay Penske.

USA, New York, NY, Wilmington, DE

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Dotdigital acquires Comapi group of companies

November 22, 2017 — Fusion DigiNet

dotdigital

The dotdigital Group, the provider of intuitive software as a service (“SaaS”) and managed services to digital marketing professionals, has acquired Comapi, a business focused on the omni-channel messaging and cloud communication market.

Dotdigital will pay £11 million in cash plus a potential further £1.2 million in share options subject to performance targets over a 2 year post-acquisition period and remaining with the business.

Headquartered in Cheltenham with approximately 30 employees, Comapi has built a scalable software platform that allows businesses to communicate with their consumers across multiple conversational messaging channels including the growing market for live chat.

Comapi had revenues of £7.8 million which are primarily recurring and EBITDA of £1.2 million for the year ended December 2016. Revenues for Comapi in the current financial year are growing at approximately 15% based on their SAAS business model. The board expect there to be opportunities to further expand revenues once the integrations have been completed. Comapi has just completed a £2.7million R&D programme and on completion of the transaction will have a positive net asset position. The two subsidiaries combined are currently cash breakeven after spending roughly £1.0 million on R&D in the current year.

dotDigital Chief Executive Officer, Milan Patel, commented, “By adding Comapi to our business, dotdigital is executing on its vision to be an omni-channel marketing automation platform. Comapi has built an impressive platform that, integrated with our software, will allow our customers access to the next generation of consumer engagement marketing technology aiding retention and boosting our competitive advantage in securing new customers”.

UK, London & Cheltenham

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ECI Partners invests in Make It Cheaper

October 26, 2017 — Fusion DigiNet

Private equity firm ECI Partners has acquired Make It Cheaper, a company that helps SME business customers compare and change their service providers, with a specific focus on the energy, telecoms and insurance sectors. The terms of the deal were not disclosed.

Make it cheaperMake It Cheaper, which has appeared three times in the Sunday Times Fast Track 100, posted turnover of £12.6 million last year and generated an operating profit of £1.62 million. The business was founded by CEO Jonathan Elliott in 2007 and now employs 175 staff.

Richard Chapman, head of business services at ECI commented, “Make It Cheaper’s motivated and experienced executive team have built a fantastic company that helps businesses save time and money. We are delighted to partner with Jonathan and the team, to help the Company scale up its customer acquisition and multi-product platform, and realise its potential for further growth.”

UK, London

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LDC back MBO of energy software supplier ENSEK

October 5, 2017 — Fusion DigiNet

ensek-news-05102017Private equity investor LDC has backed the management buyout of ENSEK, a software supplier to UK energy providers. The terms of the deal were not disclosed.

Headquartered in Nottingham, UK, ENSEK uses its software-as-a-service (SaaS) platform to provide existing energy suppliers with its revenue assurance and gross margin accounting product. It also provides new market entrants with the end-to-end software solution required to enter and operate in the UK energy sector.

Led by CEO Jon Slade, the business has grown rapidly since its launch in 2010. This has led to a diverse customer base, revenues that are currently growing at 100%+ year-on-year and an employee base of 65 people.

Jon Slade, CEO at ENSEK, said: “The energy sector is facing a period of unprecedented change, driven largely by the number of smaller suppliers entering the market. We want to build on our work of providing market-leading software services to energy suppliers, large and small, across the UK and continue to help them use data to become more efficient and competitive within the growing market.

“Partnering with LDC will give us both the financial firepower and strategic expertise required to take the business to the next level, and we’re looking forward to working closely with the team as we grow the business together.”

The deal was led by investment directors John Green and David Bains at LDC in Nottingham, and both will join the board as non-executive directors.

Ian Peters has been appointed as non-executive chairman with Eddie Minshull joining as non-executive director. Ian was formerly a member of Centrica’s Executive Committee and held the MD and COO roles during his 12 years with the business. Eddie has more than 30 years’ experience supporting the growth of technology businesses such as broadband provider, Gigaclear, as well as network performance specialist Juniper Networks. Eddie is currently also Chairman of energy technology provider Onzo.

UK, Nottingham

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World Fuel Services Europe acquires Orchard Energy from Lakehouse

October 5, 2017 — Fusion DigiNet

WFSWorld Fuel Services Europe has acquired energy procurement business Orchard Energy from Lakehouse plc. World Fuel Services paid £12.4 million in cash.   

Orchard provides consultancy advice to corporate clients in relation to managing their energy costs, particularly energy procurement and usage.  In addition, Orchard provides energy management services to commercial and industrial customers, including brokering supply with utilities firms, managing contracts and advising on energy consumption. The business employs 72 staff and is based in Elland, West Yorkshire, with offices in Glasgow, Bristol, Newcastle and Northampton.  

In the financial year ended 30 September 2016, Orchard had turnover of £6.3 million and profit before tax of £2.5 million.   

World Fuel Services recently launched the Kinect Energy Group, built from U.S. Energy, KTM, and Beach Front Energy in the United States and Bergen Energi and Utilities Exchange in Europe. Orchard will become part of the Kinect Energy Group.

USA, Miami, FL & UK, West Yorkshire

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World Fuel Services acquires Bergen Energi Posted on November 2, 2015

 

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Next Fifteen Communications Group acquires Charterhouse Research

September 26, 2017 — Fusion DigiNet

Next 15Next 15 Communications Group plc, the digital communications group, has acquired Charterhouse Research Limited through its data and insights subsidiary, MIG Global Limited. Charterhouse is a specialist financial market research consultancy.

Charterhouse ResearchCharterhouse was founded in 2004 by four market researchers, Julie Irwin, Mark Dennis, Sara McFadzean and Mervyn Flack. Julie will continue to run the business as Managing Director with Mark and Sara continuing in their position as Directors; Mervyn is relinquishing his role as Chairman.

Next 15 are paying an initial consideration of £2.75 million. That is £1.74 million for the business and £1.01 million for the net assets. £2.58 million is being paid in cash with the balance through the issue of 41,598 new ordinary shares.

Further cash payments may become payable based on the profits of Charterhouse for the years ending 31 January 2019 and 31 January 2020. .

For the year ended 31 August 2016, Charterhouse reported turnover of £2.69 million, adjusted profit before tax of £0.59 million and net assets of £0.78 million.

Tim Dyson, CEO of Next 15, commented: “Next 15 is committed to building a deep data and insight capability at its core. Charterhouse is an important step in that strategy, significantly enhancing our financial services offering. The combination of MIG’s technology driven consultancy and data offering with Charterhouse, a leading specialist in financial market research, will help drive deeper and more actionable insights to the financial services industry.”

Application has been made to the London Stock Exchange for the new ordinary shares to be admitted to AIM and it is expected that admission will take place on 29 September 2017. Following the issue and allotment of the new ordinary shares, the Company will have 75,516,196 ordinary shares in issue. No ordinary shares are held in treasury.

UK, London

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TClarke plc acquires Eton Associates

August 7, 2017 — Fusion DigiNet

tclarkeTClarke plc, a building services group, has acquired Eton Associates Limited a London based privately owned control systems specialist offering a variety of Building Management Systems.

ETON specialises in installing and maintaining sophisticated building controls systems on complex office buildings.  Recent projects ETON has been involved with include, 20 Fenchurch Street, Chiswick Park, One Canada Square, Bloomberg London, Lacon House and Angel Court.

TClarke has paid an initial cash consideration of £1.5 million, and a further £0.5 million will be released following agreement of the final completion accounts.  A further £0.6 million will be payable subject to earnings targets being met in the two years to 4th August 2019.

For the year ended 31 May 2016 (the latest financial period for which audited results are available), ETON reported revenues of £9.5 million and a pre-tax profit of £0.3 million.  As at 31 May 2016 it had gross assets of £3.2 million and net assets of £0.7 million.

ETON employs around 80 people and is currently based in London Docklands with a manufacturing plant in Essex.  The intention is to co-locate the operations of ETON at TCLarke’s London Head Office at Moorgate and at their prefabrication facility at Stansted.

Mark Lawrence, CEO of TClarke commented, “We welcome the ETON team to TClarke and I am confident that the business will reach new potential as part of a larger group enabling them to build upon the scale and number of projects undertaken.  Increasingly, our clients are demanding ever more sophisticated systems to control their buildings.  With this acquisition we are able to deliver a joined up ability to meet these demands.“

Jamie Ward and Graham Millward were the two principal directors and owners of the business. Ward will remain with the business for a minimum of two years and Millward will remain available as a consultant to the business for a two-year period. 

UK, London

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