LPG Holdings ApS (“LogoPaint") / Erhvervsinvest
Cavendish is delighted to announce that it has advised on the sale of LPG Holdings ApS (“LogoPaint”) to Danish private equity firm Erhvervsinvest in partnership with the management. LogoPaint supplies 3D CamCarpetsTM, displaying sponsor logos in high impact format, to sports events worldwide. Erhvervsinvest is a Danish PE firm that invests in small and medium-sized Danish companies and was identified by Cavendish’s M&A International partner firm in Denmark, Audon Partners.
3D CamCarpetsTM are two dimensional physical signs which are placed on or near the playing surface in sports stadia but where the logo is distorted such that it appears to be “standing up” in 3D when viewed on television screens. The sign is painted directly onto the turf (in the case of rugby) or printed onto a mat which is laid out on the pitch (in the case of football and cricket) or printed onto stickers and affixed to the playing surface (in the case of basketball and other indoor sports). 3D CamCarpetsTM have revolutionised sports advertising by opening up new space on and around the pitch for corporate sponsors to display their logos on TV. This is prime real estate which cannot be used by traditional upright signage. LogoPaint’s CamCarpetsTM are used in more than 50 countries and 15 different sports worldwide. In football alone, more than 500 football clubs worldwide use 3D CamCarpetsTM to gain increased sponsor exposure and thus increased club revenue. The biggest markets in football are Bundesliga in Germany, Serie A in Italy, La Liga in Spain and Brazil’s Brasiliero League. Usage in top tier rugby and cricket is close to 100% around the world – from ICC World Cup cricket to AFL Aussie Rules to Six Nations rugby union.
Kurt Henning, CEO of LogoPaint said; “We look forward to continuing the development of LogoPaint and we will keep focusing on the great opportunities in the market. Erhvevsinvest is an owner with access to both capital and skills who can help us to take advantage of new opportunities together with the management and the employees”.
Epsilon Partners LLP, a UK-based private equity firm specialising in investments in growth companies in the sports market, exited its shareholding in LogoPaint as part of the transaction.
Angus Chilvers, CEO of Epsilon Partners LLP commented;
“Epsilon Partners enjoyed working with Linda, Andrew and the team at Cavendish – professionals with a deep knowledge of the sports, technology and media sectors. They were tenacious and patient in a long process, and did a great job to keep things on track to a successful conclusion. Cavendish’s overseas network was crucial in finding the right buyer for Logopaint.”
The successful transaction adds another strong client to Cavendish’s track record in sports media following the recent sales of ball tracking specialist Hawk-Eye to Sony Corporation and football data expert Opta to Perform group.
“The Cavendish team of Jon, Chris, Chirag and Soben steered the process from start to finish and were instrumental in bringing this transaction to a successful conclusion with the right partner in the form of Naviga. The sale of Miles 33 to Naviga marked a successful exit for the financial investors and provides management with a larger platform to grow the business.”
“When selling The Farm, the best decision we took was to choose to work with Linda and her team at Cavendish. They delivered an excellent deal, were a delight to work with, are thoroughly professional, excellent value for money and will remain firm friends. No one could have got us a better outcome.”
“It was a pleasure to work with the Cavendish team, led by Linda Sullivan. As well as displaying a deep understanding of our sector, they also made every effort to get under the skin of our business, which ensured that we were fully aligned from start to finish. In particular, I was hugely impressed by the way in which Linda conducted the process with a calm authority and professionalism throughout. She is a class act.
We are delighted with the outcome and feel that we have found the perfect partner for Dare in the Oliver Group. I would have no hesitation in recommending Cavendish to my peers in the industry.”
…Cavendish showed an intimate knowledge of the sale process from start to finish. They demonstrated technical excellence in a complex transaction and I had full confidence in their abilities at all times. I am delighted that the management team have found a partner that will assist with the continued development of WTG.
Linda Sullivan, James Ellis and the Cavendish team were excellent throughout the process and achieved a very positive result for the management and shareholders. I highly recommend them. Rex has an exciting future as part of Shutterstock, the NYSE quoted international company.
Cavendish ran a very tight process and generated real bidding excitement. Opta is seen by Perform as a the missing piece in their content jigsaw.
It was a pleasure to work with the Cavendish team, led by Linda Sullivan. As well as displaying a deep understanding of our sector, they also made every effort to get under the skin of our business, which ensured that we were fully aligned from start to finish. In particular, I was hugely impressed by the way in which Linda conducted the process with a calm authority and professionalism throughout. She is a class act.
We are delighted with the outcome and feel that we have found the perfect partner for Dare in the Oliver Group. I would have no hesitation in recommending Cavendish to my peers in the industry.
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