Charles Russell Speechlys advises Immedia Group Plc on its acquisition of AVC Media
Charles Russell Speechlys has advised Immedia Group Plc (“Immedia”), the AIM quoted supplier of digital audio content solutions for leading brands and global businesses on its acquisition of the business and certain assets comprising AVC Media (the “AVC Business”), based in Aberdeen from the Administrators of AVC Media Enterprises Limited and AVCME Holdings Limited (together the “AVC Companies”).
Established in 1984, the AVC Business is a media and communications business and digital technology specialist. The AVC Business encompasses a range of services, which the Board of Immedia consider are highly complementary to Immedia's activities; these include audio visual solutions, video conferencing, event production/management, video and 3D animation, web and graphic design and App development. The AVC Companies work across many sectors and are particularly well known in oil & gas, football and tourism. Its past and current clients include leading brands and global businesses, such as FA, FIFA, Shell, BP, Aker, SKY and BT Sport.
The Board of Immedia considers that the AVC Business can be returned to profitability by implementing certain identified cost savings, synergies and cost sharing with Immedia and other measures to be implemented post completion of the acquisition.
As of today the acquired business will be renamed AVC Immedia, and will operate as a division of Immedia Broadcast Ltd a wholly owned subsidiary of Immedia Group plc.
Bruno Brookes, Chief Executive of Immedia, said"We have thoroughly enjoyed working with the Charles Russell Speechlys team. They have provided professional and clear advice throughout the acquisition and we look forward to working with them in the future. In my Chief Executive's report in April 2016, I said that we have been extremely encouraged by an unprecedented number of strong and relevant opportunities from exciting businesses who want to work with Immedia. This continues to be the case and we believe that the acquisition of AVC Media will both strengthen and enhance Immedia's offering and ultimate appeal to clients. "
Mark Moncreiffe, Corporate Partner from Charles Russell Speechlys, commented “We are delighted to have worked with Immedia (a long standing client of the firm) on their recent acquisition of AVC Media. We enjoyed working with Bruno Brookes and his team and are very pleased with the successful completion of this important strategic transaction. ”
The Charles Russell Speechlys team comprised Mark Moncreiffe and David Clements (Corporate) Hanh Nguyen and Aziz Abdul (Corporate Restructuring & Insolvency) and Sarah Jane Brostoff (Employment). Anderson Strathern (Ruth Maclean), co-member of Association of European Lawyers, assisted on Scottish law aspects.
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