Charles Russell Speechlys advises FPE Capital on its acquisition of Masstech and SGL
Charles Russell Speechlys has advised FPE Capital on its simultaneous acquisition of Masstech and SGL with a view to combining both groups to build an extensive global platform in digital media workflow automation, asset management and archiving.
The merged group will be headquartered in the UK, generating strong profitability on sales of c.£10 million and will offer greater breadth and reach to its broadcast customers by filling gaps in geographical coverage, markets and product lines. The combined entity will manage a substantial volume of dynamic digital assets in Broadcast news and production, providing more than 500 blue chip customers with automated movement and storage of digital video content.
FPE will work closely with the Masstech management team who will run the combined business and its international operations from SGL’s headquarters in Fareham (UK) enabling SGL’s founders to retire from the business.
Llewellyn John of FPE capital commented: “We are very pleased to have completed the dual acquisition of Masstech and SGL to continue to leverage our expertise in the media technology stack. It was a complicated transaction with a number of counterparties and both businesses operating in multiple jurisdictions; the CRS team provided the excellent support throughout the deal that we have come to expect from them and which underlies our decision to have used them on each of the three investments FPE Capital have made in the last 12 months.”
Malcolm MacDougall, head of Private Equity at Charles Russell Speechlys said: “We are delighted to have assisted FPE Capital in completing the dual acquisitions of Masstech and SGL. It was a complex transaction, particularly to ensure the successful completion of both acquisitions contemporaneously, and we are very pleased to have worked with Llew and Henry and the rest of the FPE Capital team to have achieved successful completion of both deals.
The Charles Russell Speechlys core team comprised Malcolm MacDougall, Richard Coleman, Lucy Thorpe, Amy Utley, Fiona Walsh, Dafni Loizou and Tian Zheng from the Corporate Team, with support from members of the IT/IP, tax and employment teams.
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