Michelmores’ Corporate team has advised the selling shareholders of Media Business Insight (MBI) to GlobalData, an AIM-listed data and analytics company. Partner, Harry Trick led the team with Senior Associate, Francesca Hubbard, and support from Barnaby Baker (Corporate) and Anthony Reeves (Tax).
MBI is a leading content, insight and events business for the creative media industry. It comprises a range of digitally-led brands including Broadcast and Screen International, that provide information and intelligence services that inform professionals about the British television industry and international movie industry, respectively. The business employs 85 staff across its brands in offices in London and Los Angeles, who will now all join the GlobalData group.
MBI was created by an MBO from the Ascential group, led by Conor Dignam and Alison Pitchford in 2014 and backed by four Mobeus Equity Partner VCT funds. Gresham House, now the owner of the VCT funds, has sold its majority stake as part of this sale.
Of the deal, Conor Dignam, CEO of MBI and who, along with Alison Pitchford, will remain with the business under its new ownership, said:
“We are delighted to now be part of the Global Data business and received a first-class service from the team at Michelmores in getting the deal done. They provided a professional, proactive and friendly service that helped the management team greatly during the process”
Harry Trick added:
“We are really pleased to have assisted the selling shareholders on this transaction – they were a great team to work with and we are looking forward to seeing how MBI can develop further in the GlobalData business”.
Reed Smith LLP acted as legal advisors to GlobalData.