CIL delivers commercial & vendor due diligence for media deals
Over the past few months, the M&A team of CIL Management Consultants has provided commercial and vendor due diligence services to four deals that successfully closed in the media sector.
In December, Swedish provider of legal, tax and accounting information Karnov Group acquired Norwegian finance-focused web development and workflow solutions firm DIB for a total consideration of just over €25 million.
The move aligned with Karnov Group’s strategy of growing via selective and value-adding acquisitions, and CEO Flemming Breinholt lauded DIB for its “perfect fit” and “100% recurring revenue.” CIL Management Consultants delivered the commercial due diligence, marking its 10th deal for Karnov Group. In 2018, the consultancy also supported the company’s initial public offering.
In January this year, tech-focused private equity firm SilverTree acquired London-headquartered Orbus Software, enticed by the latter’s 100% plus software as a service (SaaS) revenue growth through 2020. This is in addition to 20% plus annual revenue growth for a sustained period at Orbus, which was launched in London in 2004 and has additional offices in New York and Sydney.
The firm currently advises more than 500 global enterprises – including several Fortune 500 businesses and public sector bodies. CIL supported Orbus in its sale to SilverTree, providing vendor commercial due diligence services.
In March, London-based mid-market private equity firm LDC invested in Sohonet – a media network that supports the development of creative content by enabling secure and efficient cross-border collaboration across globally distributed production teams. Sohonet launched in London in 1995, and has since grown into a 120 plus team spread across Australia, Europe and North America.
With 30% revenue growth in the last three years alone, Sohonet marked a strong prospect for LDC – which will install two members on the board to support the existing management team. CIL Management Consultants supported LDC with commercial due diligence on the deal – as part of a consortium that also included GCA Altium, KPMG, Osborne Clarke and Aon, among others.
Later in March, another London-based mid-market private equity firm Inflexion took on a minority stake in The Goat Agency (Goat) – a social media marketing firm specialised in helping big corporates reach niche audiences via influencers. Also based in London, Goat has over 100 employees spread across the UK, the US and Asia, and has recorded 60% revenue growth annually since launching in 2015.
For Inflexion, Goat is a turbocharged entry point into a rapidly expanding influencer market. CIL was among Inflexion’s advisors on the deal, managing the commercial due diligence while DWF provided the legal backing.
