GDF SUEZ, through its Cofely subsidiary, acquires Lend Lease’s UK FM ssets

July 7, 2014 — Fusion DigiNet

gdf suezGDF SUEZ through its Cofely subsidiary has completed the purchase of Lend Lease Group’s UK facilities management business (LLFM).

This acquisition will make Cofely one of the UK’s largest providers of technical services PFI and provide an increased portfolio of long-term FM contracts in key public sector and healthcare markets. Over the next 25 years these contracts will provide Cofely with a guaranteed revenue stream of 2.5 billion GBP. The transaction will also give Cofely a significant, new lifecycle management capability to its business, which includes building fabric and major repair & replacement.

LLFM currently provides a range of FM services across the UK and Ireland, with particular focus on healthcare, education, government and retail. The business has a number of large long-term contracts with clients comprising a number of major National Health Service (NHS) Trust hospitals at locations including Manchester and Leeds, Local Education Authorities in Birmingham and Lincolnshire, HM Treasury and Bluewater Shopping Centre.

LLFM will be combined with Cofely’s existing UK business with immediate effect, with the new entity operating under the Cofely brand.

Commenting on the acquisition Jérôme Tolot, GDF SUEZ Executive Vice President, in charge of the Energy Services Business Line: “The acquisition of LLFM reinforces our strategy to further evolve our business here in the UK. It continues to strengthen our service capability and our credentials as a leading UK service provider. LLFM has many synergies with our existing business and it will also provide us with the addition of a full lifecycle management capability. This will allow us to introduce and integrate new smart & low carbon energy efficient technologies into buildings for customers over the term of the contracts.”

The acquisition follows Cofely’s purchase of Balfour Beatty WorkPlace in late 2013.

France, Paris & UK, London

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6 new WPP acquisitions

July 7, 2014 — Fusion DigiNet

wpp1. Kantar acquires majority stake in data visualisation and interactive specialist Guardian Digital Agency, in the UK

WPP’s wholly-owned data investment management arm, Kantar, has acquired the Guardian Digital Agency (“GDA”), a specialist data visualisation, site design and interactive development agency, previously part of Guardian News and Media Group. The company, which employs 13 people, will be rebranded under the new name Graphic. Many of Kantar’s 12 companies have already worked with GDA.

UK, London

 2. Grey to acquire a majority stake in Circus, Peru’s largest independent advertising agency

WPP’s wholly-owned operating company Grey, is to acquire a majority stake in Circus Peru S.A., the largest independent adverting agency in Peru.

Founded in 2008, Circus is a full-service integrated marketing company. Its subsidiaries include Circus Interactive, Circus Retail, Circus Experience, Brand Lab, a design company, and Carne, a second advertising agency. Circus will be integrated into the existing Grey Peru and be renamed Circus Grey.

Circus’ unaudited revenues were PEN 34 million as of December 31, 2013 with net assets of PEN 9.0 million as of the same date. Clients include Grupo Credito, Grupo Falabella, Claro and San Fernando. Based in Lima, the agency employs nearly 200 people.

Other WPP companies active in Peru (including affiliates) are Young & Rubicam, Ogilvy & Mather, J. Walter Thompson, GroupM, Burson-Marsteller, IBOPE, Kantar Worldpanel, TNS and Geometry Global.

UK, London & Peru, Lima

3. Millward Brown acquires global brand strategy company EffectiveBrands

WPP’s wholly-owned operating company Millward Brown, has acquired EffectiveBrands Holding B.V., a marketing strategy consulting firms.

Founded in 2001 by Marc de Swaan Arons and Frank van den Driest, the company’s unaudited revenues for the year ended 31 March 2014 were approximately EUR 14.1 million with gross assets at the same date of approximately EUR 6.5 million. Clients include Pernod Ricard, Virgin, Barclays, Unilever and PepsiCo. EffectiveBrands is headquartered in Amsterdam with offices in London, New York, Singapore and Tokyo and employs about 65 people.

Millward Brown will combine EffectiveBrands with Millward Brown Optimor, its strategy consulting unit, to form Millward Brown Vermeer. Millward Brown

UK, London & The Netherlands, Amsterdam

4. WT acquires majority stake in creative agency The Hardy Boys in South Africa

WPP’s wholly-owned operating company JWT, has acquired a majority stake in The Hardy Boys, a leading creative agency in South Africa.

Founded in 1994 in Durban, The Hardy Boys is a multi-disciplinary, brand building agency, with fully integrated activation capabilities. Clients include Unilever, Diageo, SA Home Loans, ADvTECH and RCL Foods amongst others.

The Hardy Boys’ revenues for the year ended 28 February 2014 were approximately ZAR 55 million, with gross assets at the same date of approximately ZAR 32.2 million.

UK, London & South Africa, Durban

5. Kantar Media acquires media intelligence business Precise

WPP’s wholly-owned media research and analytics business Kantar Media, has acquired a majority stake in the issued share capital of Precise Media Group Holdings Limited, a provider of monitoring and evaluation services.

Founded in 1996 and based in London, with offices in New York, Precise employs 430 people servicing 2,500 customers including multinational corporations, PR agencies, public sector bodies and SME clients. For the year ending 30 September 2013, Precise’s revenues were £28.9 million, with gross assets as at the same date of £34.4 million.

UK, London & USA, New York, NY

6. XM Asia to acquire majority stake in Sofresh in Vietnam

WPP’s wholly owned operating company, XM Asia, a JWT company, is to acquire a majority stake in Sofresh, a leading digital creative agency in Vietnam.

Sofresh, co-founded in 2007 by Ly Viet Vu and Justin Cohen, develops digital strategy, digital creative ideas and marketing campaigns across multiple digital channels, including social media, mobile and the web. The company also designs and builds e-commerce platforms, customer relationship management systems and in-store digital installations.

Sofresh works with a range of local and global clients, including Diageo, GSK, Kinh Do, Techcombank and Unilever.

Sofresh had revenues of VND 35.7 billion for the year ending December 31, 2013, with gross assets of VND 30.1 billion, as at the same date. The company employs 85 people.

Sofresh marks WPP’s third acquisition in Vietnam in seven months. In Vietnam, WPP companies (including associates) generate revenues of about $80 million and employ approximately 1,000 people.

UK, London & Vietnam

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XLMedia acquires un-named Scandinavian website network

July 7, 2014 — Fusion DigiNet

XLMediaJersey based XLMedia, a provider of digital performance marketing services, has acquired an un-named Scandinavian website network within the online gaming sector for $2.3 million in cash.

The company said that the network reviews a large number of online casino and poker websites, mainly in Denmark, generating “high value added content”.  The acquisition provides a geographic footprint to XLMedia’s existing Scandinavian presence and extending its reach into Denmark, a fully regulated market.

The acquisition follows two acquisitions of domains in the North American market during H1 2014, also aimed at extending into new territories and further establishing a presence in fully regulated markets.

The Group said it will continue to buy domains and websites as part of its ongoing growth strategy as well as continuing to evaluate an increased presence in fully regulated markets.

Commenting on the acquisition, CEO, Ory Weihs said, “Since our IPO in March this year, we have continued to make good progress with positioning XLMedia to capitalise on the significant growth opportunities in the online gaming sector. This acquisition represents a complementary fit for our business, strengthening our reach in Scandinavia and providing entry into Denmark, a fully regulated territory.”

UK, St Helier, Jersey

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ECI invests in ATG Media

July 6, 2014 — Fusion DigiNet

atgmediaECI Partners has invested in ATG Media, a pioneer of webcast and timed online auction platforms. ECI will partner with ATG’s management and existing investor Mobeus Equity Partners to help drive the company’s ongoing international expansion.

ATG operates the-saleroom.com, i-bidder.com, BidSpotter.co.uk and BidSpotter.com as well as publishing the antiques industry bible, Antiques Trade Gazette.

ATG’s platforms allow bidders from around the world to browse fully illustrated sale catalogues and place bids over the internet in real time, with live audio and video feeds delivering the auction room atmosphere. Bidders are also able to participate in timed, online only auctions.

ATG’s growth has been driven by the continued shift of bidders online and ATG’s ability to provide auctioneers with a larger bidder base.

Tom Wrenn, Partner and head of TMT at ECI, commented: “We are delighted to be partnering with ATG Media as the company transitions into its next growth phase. As a growth focused investor we were attracted to ATG by its market leading technology and strong brand recognition, attributes that have driven its market penetration.
“We look forward to working with Anne’s team and Mobeus to help drive ATG’s continued expansion in the UK and internationally.”

UK, London

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Belgian publisher De Persgroep buys Mecom for just under £200m

June 30, 2014 — Fusion DigiNet

persgroep-logo-belgieBelgian publisher De Persgroep has agreed to buy Mecom for just under £200 million. Each Mecom Shareholder will be entitled to receive 155 pence in cash for each Mecom Share they hold, which values the entire issued and to be issued share capital of Mecom, on a fully diluted basis, at approximately £196 million.

mecomMecom, a company incorporated under the laws of England, is a European media group, with leading positions in the news and information publishing business in the Netherlands and Denmark. Mecom’s Dutch division comprises the Koninklijke Wegener (Wegener) and Media Groep Limburg (Limburg) businesses. Wegener is the largest publisher of regional daily newspapers and free door-to-door newspapers in the Netherlands. Limburg is the leading regional newspaper business in the Dutch province of Limburg. The Dutch division has a total daily readership of approximately 2.5 million and publishes content in print and in online, mobile and e-paper form. The Danish division publishes two daily national titles and one weekly national title as well as seven daily regional titles and 17 free weekly titles. In total, the Danish division has a daily readership of approximately 500,000. Mecom also operates national and local radio stations, with total listeners of approximately 1 million.

De Persgroep, a company incorporated under the laws of Belgium, is a major operator in the Belgian and Dutch media markets. De Persgroep’s activities consist of news media, magazines, television, radio and online services.

The Transaction will be funded by a combination of existing cash resources and a new debt facility provided by BNP Paribas Fortis S.A./N.V.

Commenting on the Transaction, Christian Van Thillo, Chief Executive Officer of De Persgroep, said: “This announcement is consistent with our successful strategy in our publishing activities and with our belief that consolidation in our industry is necessary in order to transform our publications into multimedia brands in a profitable way. Mecom is a leading publishing group with strong and respected news brands in the Netherlands and Denmark.

It further underscores our ongoing commitment to develop innovative multi-media news brands that offer readers a richer experience through printed and digital newspapers, news sites and apps. In addition to operational breadth and depth, the combined business will be better positioned for transformation towards a media group that is leading in print and online.”

Norway, Oslo & UK, London & Belgium, Kobbegem

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Felix Dennis 1947 – 2014

June 23, 2014 — Fusion DigiNet

Felix DennisFelix Dennis, the magazine publisher, poet, entrepreneur and philanthropist has died at his home in Dorsington, Warwickshire, aged 67. He was diagnosed with cancer in 2012.  The family announcement said he died peacefully surrounded by his loved ones on Sunday.

“We are deeply saddened to announce that Felix Dennis passed away yesterday surrounded by his loved ones. After a long and painful battle with cancer, Felix died peacefully at his home in Dorsington, aged 67.”

“Felix was a publishing legend, famed for his maverick and entrepreneurial style and, more lately, a successful and much loved poet. He will be greatly missed.”

“Thank you to the support and kindness of those who share our feelings for Felix, and we ask that you respect our privacy during our time of grief.”

Felix Dennis’s  company, Dennis Publishing, pioneered computer and hobbyist magazine publishing in the United Kingdom. Famously, he was co-editor of Oz, which led to him being one of the “Oz three” defendants eventually found not guilty following the 1971 Old Bailey obscenity trial about the title’s content. In 1987, he co-founded MicroWarehouse, with Peter Godfrey and Bob Bartner, a company that pioneered direct IT marketing via high quality catalogues.  It was sold to a private investment group in January 2000. This created the bulk of Dennis’ personal wealth.

UK, Warwickshire

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Zoopla Property Group IPO Offer Price

June 18, 2014 — Fusion DigiNet

zooplapropertyOn 22 May 2014, Zoopla Property Group announced its intention to make an IPO on the London Stock Exchange. DMGT intends to sell a maximum of 40% of its current 52.1% stake in Zoopla, retaining a stake of at least 31%. The maximum that DMGT could receive would be £190 million as a result of its participation in the IPO. This maximum includes DMGT’s contribution to the Member Offer, the Institutional Offer and Over-allotment

Offer highlights

  • The offer price has been set at 220 pence per Share.
  • Based on the Offer Price, the total market capitalisation of the Company will be £918.8 million
  • The Offer comprises 159,977,620 Shares, representing 38.3% of the Company’s issued share capital on Admission, excluding the Over-allotment Option
  • The Offer comprises the sale by selling shareholders of existing Shares only. No new Shares will be issued pursuant to the Offer
  • The Principal Selling Shareholders have granted an Over-allotment Option in respect of 15,997,755 Shares. If the Over-allotment Option were exercised in full the total gross proceeds raised by the Principal Selling Shareholders in the Offer would be approximately £369.9 million
  • 4,179,624 Shares have been applied for by Eligible Members under the Member Offer. As a result the Institutional Offer will comprise 155,797,996 Shares

Admission and dealings

  • Conditional dealings in the Shares will commence on the London Stock Exchange at 8:00 am today (18 June 2014) under the ticker ZPLA
  • Admission to the premium listing segment of the Official List and to trading on the main market for listed securities of the London Stock Exchange, and the commencement of unconditional dealings in the Shares on the London Stock Exchange, are expected to take place at 8:00 am on 23 June 2014. At Admission, the Company will have 417,642,460 Shares in issue
  • The Pricing Statement relating to the Offer will be submitted to the UKLA and will be available free of charge at the Company’s registered office at Harlequin Building, 65 Southwark Street, London, SE1 0HR. In addition, the Pricing Statement will be published on the Company’s website at http://www.zpg.co.uk/ipo

Alex Chesterman, Founder & Chief Executive Officer of Zoopla Property Group Plc said: “We are delighted with our successful listing on the London Stock Exchange. Today’s announcement marks an important milestone for our business following a number of years of strong growth and having built a market-leading proposition. We have received a significant level of institutional investor support in our business which once again underlines the growth potential of Zoopla Property Group. We have also received strong support from our members who have also participated in our IPO through our exclusive Member Offer and have become shareholders in our business. We are looking forward to life as a public company and to welcoming our new shareholders to the business.”

Further information

  • The Principal Selling Shareholders (other than Alex Chesterman and Simon Kain), are locked up for 180 days and the Directors and Senior Managers are locked up for 365 days in respect of their holdings of Shares following Admission, subject to the consent of the Joint Global Co-ordinators and to certain customary exceptions. The Company will also be subject to customary lock-up arrangements for 180 days following Admission, subject to the consent of the Joint Global Co-ordinators and to certain customary exceptions
  • Following Admission, before any exercise of the Over-Allotment Option, DMGT will hold 33.7% of the Shares and the Principal Selling Shareholders (other than Alex Chesterman and Simon Kain) will hold, in aggregate, 52.6% of the Shares. The Directors and Senior Managers will hold, in aggregate, 6.2% of the Shares, before any exercise of the Over-Allotment Option
  • It is expected that the Company will be eligible for inclusion in the FTSE UK Index Series at the quarterly review in September 2014
  • In relation to the Offer and Admission, Credit Suisse Securities (Europe) Limited and Jefferies International Limited are acting as Joint Sponsors, Joint Global Co-ordinators and Joint Bookrunners, and Canaccord Genuity Limited is acting as Co-Lead Manager
  • As stabilising manager, Credit Suisse Securities (Europe) Limited has been granted the Over-allotment Option, exercisable no later than thirty days from today, by the Principal Selling Shareholders over up to 15,997,755 Shares, representing 10% of the Shares comprised in the Offer

UK, London

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Rame Energy acquires Beco

June 18, 2014 — Fusion DigiNet

RameRame Energy plc, the energy consultant, engineer and power generator, has acquired Beco Ltd, a UK based designer and installer of solar energy systems, £150,000.  Based locally to Rame’s Plymouth head office in Devon, Beco specialises in photovoltaic solar energy systems for domestic, commercial, marine and off-grid uses. In addition Beco installs wind turbines and is a distributer for Kingspan wind turbines as well as manufacturing its own range of solar charge controllers and specialist batteries.

becoBeco reported revenues of £877,344 and a loss of £17,208 for the period from 21 June 2012 to 30 June 2013.  In the nine months to 31 March 2014, Beco had unaudited revenue of approximately £1.32 million and was profitable.  It has a current order book valued at approximately £1.30 million to 30 September 2014.  On completion, which is expected to be 1 July 2014, Beco will have shareholder loans totalling £239,255.56.  The Acquisition is expected to be earnings enhancing for the six months ended 31 December 2014. The consideration is to be satisfied by the issue of 989,283 new ordinary shares in the Company. In addition, on completion Rame will make a loan to Beco of £100,000 to enable the partial redemption of a proportion of the Vendor Loans.  The remaining Vendor Loans shall be repaid out of a portion of profits generated by Beco over two years.

Tim Adams, Rame CEO, commented: “Having collaborated with Beco on a number of solar opportunities over the past five years, we are delighted to have agreed the Acquisition and to welcome its multi-skilled team into the Group.  Beco’s proven expertise in both grid connected and off-grid solar power projects, and the synergies between our groups, will allow Rame to substantially expand our solar power activities worldwide, and also strengthen our engineering division’s capability to deliver cost effective and reliable power solutions to blue chip customers around the world.  As well as the potential to increase turnover and profits at Rame’s engineering division, the acquisition of Beco will support the opportunity we have identified to develop solar power projects as an Independent Power Producer (“IPP”), similar to the wind power projects we are constructing in Chile, where the first two of a multi-project 300MW three year programme are due to come on stream later this year.”

UK, Plymouth, Devon

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ITE acquires 50% of DUBM in Indonesia

June 11, 2014 — Fusion DigiNet

ITEInternational trade exhibitions and conferences group ITE Group, is acquiring 50% of the shares in PT Debindo Unggul Buana Makmur (“DUBM”) from a group of three private individuals. The acquisition is subject to the approval of the Indonesian Investment Coordinating Board. This is anticipated to be received within two months.

The Sellers, who are the original founders of the business, will retain the remaining 50% of the shares and will continue to manage the business.

DUBM owns the Indobuildtech exhibitions which serve the building and construction industries in Indonesia and the surrounding region. The largest event is held in Jakarta in June each year and is the leading event of its kind in Indonesia. The 2013 exhibition was the 11th edition which sold approximately 12,000m2 net and was attended by over 33,000 professional visitors. The upcoming event opens in the Jakarta Convention Centre on 11th June 2014. In addition, satellite events are held in Surabaya, Bandung, Makassar and Bali.

Commenting on the acquisition, ITE’s Chief Executive Officer, Russell Taylor, said: “Indobuildtech is the leading building exhibition in Indonesia. The addition of this exhibition to ITE’s Build portfolio is consistent with our strategy of building market leading positions in core markets and sectors. The building industry is a growth sector in developing markets and with this complementary acquisition, ITE will leverage its international exhibition expertise to develop further its position and benefit from a strengthened portfolio within this sector.”

UK, London

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Communisis acquires The Communications Agency Limited

June 10, 2014 — Fusion DigiNet

communisisCommunisis plc has acquired the entire share capital of The Communications Agency Limited (TCA) or £7.25m. TCA is a long-established agency that specialises in brand response and customer relationship marketing.

TCA is based in London with 42 employees, all of whom are transferring to Communisis. The Chairman, Robert Prevezer, and Chief Executive, Adam Leigh, the principal vendors, are also joining the Group in senior executive roles.

Terms of the Acquisition

Communisis has acquired TCA for £7.25m  plus the amount of TCA’s surplus cash of up to £0.75m. The consideration will be paid in cash of up to £6.55m and 2,404,643 new ordinary shares in Communisis to the value of £1.45m. Of the base consideration, up to £0.5m in cash is deferred and contingent on TCA delivering its projected adjusted EBITDA for its financial year ending 31 October 2014. The base consideration takes account of TCA’s adjusted EBITDA both for the year ended 31 October 2013 and projected for the three years ending 31 October 2016, before synergy benefits.

For the financial year ended 31 October 2013, TCA generated adjusted EBITDA of £0.45m on turnover of £6.2m (£4.0m net of recharged costs). Gross assets at that date were £1.38m.

Andy Blundell, Communisis Chief Executive, said, “TCA is a long-established, award-winning and well-respected agency that brings an impressive range of new capabilities and experience to the Group’s Design segment. It will sit at the heart of Communisis’ creative offering. The growth prospects are excellent.”

UK, London

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