Alston Elliot Limited / Inflexion Private Equity
Cavendish Corporate Finance, the specialist sell-side M&A firm, has advised the shareholders of Alston Elliot, a leading provider of television sports graphics and data solutions, on its sale to Inflexion Private Equity, one of the UK’s leading mid-market private equity firms.
Alston Elliot (AE) was founded in 1992 and is globally recognised as one of the world’s leading providers of television sports graphics and data solutions to broadcasters and governing bodies. Its head office is located in the UK with thriving subsidiary companies in South Africa, India and Australia. AE is the current, official graphics supplier to Rugby World Cup, all ICC cricket events, BCCI’s international and domestic cricket, including the IPL, the Ashes, the Big Bash and Europe’s premier international rugby tournament, the Natwest 6 Nations. It also has long standing working relationships with many of the world’s most eminent broadcasters including Sky, BT, BBC, ITV, Fox, SuperSport, Star TV and Channel Nine.
Sport is widely considered to be the last live TV event as many other programmes have moved to catch-up streaming services, and this makes it uniquely appealing to broadcasters and advertisers. As a result, broadcasters are competing fiercely for rights over prime sports content. Additionally they are broadening coverage in women’s sport, “lower league” exposure and new activities to fill the expanding airtime, much of which requires the support of Alston Elliot’s services to enhance the action.
Cavendish Corporate Finance, which advised the shareholders of Alston Elliot, has an extensive track record in advising companies in the sports technology sector within its media and technology practice. High-profile deals include advising on the sales of Hawk-Eye to Sony, OptaSports to Perform Group and the management buyout of Amayse.
The Cavendish team was led by Andrew Jeffs, Partner, Business Services.
Andrew Jeffs, Partner at Cavendish, commented:
“We are delighted to have advised Alston Elliot shareholders on this very successful transaction, which highlights Cavendish’s expertise in media and technology. Alston Elliot has a 25-year track record of successful delivery of broadcast graphics on live coverage of some of the world’s most high profile sporting events. It is the undisputed leader in cricket and rugby, with multi-year contracts with the rights holders for the World Cups in each sport. Inflexion Private Equity is best placed to support Alston Elliot’s team in the next chapter of the story.”
“We backed the MBO of Improve during a global pandemic and opted to equity underwrite the full value of the deal at completion. Having performed well since the MBO, the business was in a strong position to be recapitalised and allow us to return a significant portion of the invested capital to our investors. We mandated finnCap and were very pleased with the range of deliverable options that they presented.”
“We are delighted to have been able to deliver this carefully selected acquisition which is a key part of our growth plan. The support and funding put in place by finnCap and provided by ThinCats allows us to pursue other potential acquisitions with like-minded wealth and financial planning firms and we expect further deals to be agreed during the next year as we continue our growth strategy. We are building a financial planning and wealth management business that retains the depth of understanding and relationship that comes with being a client focussed business whilst providing the range of services normally associated with a Private Bank. finnCap provided us with the knowledge of market and debt structure expertise that we didn’t have in house and we very much look forward to working together on future acquisitions.”
“We are delighted to have worked closely with finnCap Group to create a funding solution to support HFMC with its growth plans. Wealth management is a long-term growth sector and HFMC is well-placed to benefit. We look forward to supporting them in the years ahead.”
“This acquisition demonstrates Chiltern’s desire to support its portfolio companies in delivering both organic and inorganic growth. finnCap brought a number of financing options to the table to fund the acquisition and we are delighted with Arcmont as our partner going forward.”
“We want to give a huge thank you to the finnCap Debt Advisory team for their support and advice with the refinancing. Whilst we were confident there would be bank appetite to support the Group’s M&A aspirations, the dynamic of bouncing ideas off Alistair and Graham proved incredibly useful. We have now secured enlarged debt facilities with a new partner on board, strong commercial terms and with the desired flexibility to support the next phase of growth.”
“We are delighted with the support of the finnCap Debt Advisory team in securing our maiden debt facility with a new banking partner. To date, the Group has been supported by its shareholders and its own cash generation in delivering the Board’s vision. The new debt facility represents an important evolution of our capital structure, creating more flexible funding options as we consider further strategic acquisitions, in line with our ongoing growth strategy.”
“The finnCap Cavendish team were exceptional from start to finish on our deal, helping us to prepare meticulously for the process, identifying a group of highly strategic buyers and negotiating a fantastic deal for our Shareholders. We would thoroughly recommend them to any owners considering an exit.”
“Thank you to John and your fantastic team at FinnCap Cavendish for your unwavering support, dedication, work ethic and belief in Xexec’s mission. John, Mike and Sam were instrumental in bringing the deal to a successful completion and provided invaluable guidance throughout the process.
We look forward to our new partnership with the Castik and Abry teams who are the ideal partners as we continue to expand our business and pursue the next phase of our strategy.”
‘The finnCapCavendish team were great to work with, they took time to listen, properly understand our objectives and tailored the process to get a fantastic result for us. They really understood the value drivers in the ICT sector and had access to all the key buyers for our business, they were able to efficiently manage the sale process maintaining the great relationship we’d built we Adept as our preferred buyer.’
“Thank you to Jon, Steph and Chirag for their tireless efforts in recent months. Jon offered invaluable leadership and strategic advice, while Chirag and Steph provided diligent and supportive guidance throughout. They also behaved throughout as one would expect friends and confidants to act, which is very helpful in a confidential situation. We were delighted with the result and very, very pleased to have had the three of them as our team.”
Recent Deals for Technology Sector
Debt Advisory | Private Equity
K3 Capital Group plc
Debt Advisory | plc
Debt Advisory | plc
Castik Capital & Abry Partners
AdEPT Technology Group plc