Tag Archives: Media

CVC Credit provides PEI Media with facilities to support its continued strategic development

CVC Capital Partners

CVC Credit provides PEI Media with facilities to support its continued strategic development

14 Jun 2022

CVC Credit is pleased to announce that it has provided further debt facilities to PEI Media (“PEI”), the global provider of insight, market data and business conferences for alternative assets professionals. The new facilities include both senior and acquisition financing and will support the company’s ongoing strategic development.

CVC Credit has supported PEI since 2018, when it financed Bridgepoint Development Capital’s acquisition.

Founded in 2001 and headquartered in London, PEI provides alternative asset management professionals globally with news, analysis, data, marketing solutions, as well as must-attend events and conferences. In 2018, the business partnered with Bridgepoint Development Capital to further its growth ambitions and over the last four years has, significantly grown revenues and profits.

CVC, having supported Bridgepoint with the acquisition of PEI, was identified as the preferred lender and was able to quickly offer a solution tailored to the company’s size and strategic position. The facilities provided have been designed to facilitate the company’s next phase of growth and have factored in sustainability considerations through the inclusion of an ESG margin ratchet.

Simone Zacchi, Managing Director at CVC Credit, commented: “Since partnering with Bridgepoint, PEI Media has proven itself an innovative and resilient company, with the capability and drive to meet the needs of its fast-growing market. We look forward to continuing to support their ongoing development.”

John Empson, Partner & Co-Head of Private Credit at CVC Credit, added: “Our approach, is to build trusted partnerships and to provide bespoke solutions. This allows us to develop deep long term relationships with experienced sponsors and management teams as they define and execute their strategies to deliver great performance and growth in the companies they manage and advise.”

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Why we invested in Komon: Web3 platform to empower creator communities

Adara

We are pleased to announce our recent investment in Komon, a platform that permits creators to launch NFT-powered communities. Adara participated in the $2 million pre-seed round alongside Samaipata, Inveready, Shilling, and several business angels.

We are excited to back Komon founders Sebastián Fernández-Medrano, former Principal at Samaipata, and Manuel Bevilacqua, a computer scientist with years of experience in companies such as Capchase, Returnly, and Stubhub.

Both founders share a deep passion for art in all its forms. Beyond their professional experience, Sebastián is a trained actor and Manuel is a professional violinist, which has led them to take the leap to change creative industries through technology.

The challenge: One-sided creator platforms

Digital creators face many challenges, often sacrificing ownership over their audiences and potential revenue depending on the platforms they choose to distribute their work. First-generation models (YouTube, Twitch, Spotify) have helped creators make money primarily through digital ads but still require a significant following and traffic numbers to generate meaningful revenue. And while second-generation models (Patreon, OnlyFans) have helped creators unlock additional revenue by charging fans subscription fees to access content, dependence on any one platform forever limits the creator’s potential audience size, engagement, and revenue.

Enter Komon: Enabling direct creator-community relationships

Komon offers an alternative to these existing models, helping creators regain control over their entire content production, monetization, and distribution processes.

The Madrid-based startup is developing a platform that will allow creators and artists to build and manage a community and engage directly with their audiences. Community members can unlock access and rights to a creator’s exclusive content through utility-focused NFTs, or “Komon Keys,” which are governed by smart contracts. Members can also resell, rent, or give away “Komon Keys” to transfer their community membership to someone else.

Komon will use the funding to develop the platform and build out its team in Europe and the US.

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The Adara view: Web3 & and empowering the new creator economy

We’re fascinated to see how Web3 will harness the power of digital communities and the future of commerce. To build and run these communities is time-consuming, costly, and complex, and we believe creator tools and platforms like Komon will catalyze audience engagement in the same way that e-commerce infrastructure has unlocked distribution for D2C brands.

We were very impressed with Sebastian and Manu’s deep “Problem-Founder Fit,” having both experienced firsthand the current difficulties the creative industry faces, and we believe they have a product-first approach to a very large market opportunity. The potential for NFTs to provide creators with more autonomy over how they engage with their audiences and monetize their work is enormous. We are thrilled to support Komon on their mission to help creators worldwide build income in a way that truly enables their creative work.

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Faraway Road Productions Acquired by Candle Media, Next-generation Media Company Backed by Kevin Mayer, Tom Staggs, and Blackstone

Blackstone

LOS ANGELES, NEW YORK, & TEL AVIV – Candle Media (“Candle”), the next-generation media company run by leading entertainment executives Kevin Mayer and Tom Staggs and backed by investment capital from Blackstone, today announced it has acquired Faraway Road Productions. Terms of the transaction were not disclosed.

Founded by Lior Raz & Avi Issacharoff, the creators of FAUDA and Hit & Run, Faraway Road Productions is a global media and entertainment company delivering high-impact, original stories to audiences around the world. Season Four of FAUDA is set to premiere later this year on Israel’s YES TV and streaming worldwide on Netflix. Other current development projects include the film Siege of Bethlehem – to be directed by Antoine Fuqua – and a non-scripted spy thriller for Showtime with director Greg Barker.

Kevin Mayer & Tom Staggs, Co-Chairmen and Co-CEOs of Candle, said: “Lior and Avi are world-class storytellers who produce exhilarating content that strikes a chord globally with audiences across cultures and languages. They are exactly the type of partners we and Blackstone are looking to invest behind – and we are excited to work with them to further accelerate Faraway Road’s growth trajectory.”

Joe Baratta, Global Head of Private Equity at Blackstone, and David Kestnbaum, a Senior Managing Director at Blackstone, said: “We are proud to back Lior and Avi, who stand for the highest standards of quality in international media and entertainment. Content creation is one of our highest-conviction investment themes, and we believe that elite talent like the Faraway Road team is exceptionally well positioned to thrive in today’s increasingly global, digital media environment.”

Lior Raz & Avi Issacharoff Co-CEO’s of Faraway Road Productions said: “Faraway was founded to bring authentic and engaging international stories to global audiences.  Partnering with Kevin, Tom, Blackstone and the unbelievable creators that are part of the Candle family will allow us to significantly accelerate that, while participating in creating the next-generation media company that puts creators first.”

About Candle Media
Candle is an independent, creator-friendly home for cutting-edge, high-quality, category-defining brands and franchises that is built for the digital age. By bringing together elite talent operating at the intersection of content, community, and commerce, it helps position leading entertainment businesses for accelerated, sustainable growth in the current market and beyond. The company has acquired Hello Sunshine, the mission-driven media company that puts women at the center of every story it creates, founded by Reese Witherspoon; and Moonbug Entertainment Ltd., the digital-first, global children’s entertainment company behind highly popular shows such as CoComelon, Blippi, Little Baby Bum; as well as made a strategic minority investment in Westbrook Inc., the media company founded by Jada Pinkett Smith, Will Smith, Miguel Melendez and Ko Yada, focused on empowering artists to tell stories that connect the world. Candle is run by its Co-Chairmen and Co-CEOs, leading entertainment executives Kevin Mayer and Tom Staggs, and backed by investment capital from funds managed by Blackstone’s flagship private equity business.

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

About Faraway Road Productions
Founded and led by award-winning creator, writer and actor Lior Raz and creator, writer and award-winning journalist Avi Issacharoff, Faraway Road is a global media entertainment company developing and producing bold, high-impact and engaging original content. In addition to creating original material, the duo and their team are trusted with bringing to screen many deeply personal experiences from authentic voices around the world. They give a platform to these voices and adapt them into sophisticated, character-driven stories that wouldn’t be told otherwise. Faraway Road oversees each of their projects from conception to production and release, developing film and television series for the US, Israeli and international markets.

Faraway Road is best known for creating and producing the critically acclaimed series FAUDA, a political thriller in which Raz also stars, based on his and Issacharoff’s time serving in the Israeli Defense Force’s special forces unit. The series is one of the biggest successes in Israeli television, with all three seasons available for streaming on Netflix and the fourth season in production. Also, airing on Netflix is the action thriller series HIT & RUN starring Raz and Sanaa Lathan, which Issacharoff and Raz co-created with the award-winning team behind THE KILLING. Upcoming for Faraway Road is a robust slate of film and television projects in various stages of development.

Media Contact

Blackstone
Matt Anderson
518-248-7310
Matthew.Anderson@Blackstone.com

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Westbrook Inc. Announces Strategic Minority Investment from Candle Media, Next-Generation Media Company Backed by Kevin Mayer, Tom Staggs, and Blackstone

Blackstone

LOS ANGELES & NEW YORK – Candle Media (“Candle”), the next-generation media company run by leading entertainment executives Kevin Mayer and Tom Staggs and backed by investment capital from Blackstone, today announced a strategic minority investment in Westbrook Inc., the media company founded by Jada Pinkett Smith, Will Smith, Miguel Melendez and Ko Yada, focused on empowering artists to tell stories that connect the world. Terms of the transaction were not disclosed.

Kevin Mayer and Tom Staggs said: “We are thrilled to back Will and Jada and for the opportunity to work with Westbrook’s CEO Ko Yada and the rest of their incredibly talented team. They have established Westbrook as a home for world-class creators that is built for the digital age – which fully aligns with our company’s vision for the future of media. We are excited for what we can all achieve together with Blackstone in the years ahead.”

Joe Baratta, Global Head of Private Equity at Blackstone, and David Kestnbaum, a Senior Managing Director at Blackstone, said: “Will, Jada, and Westbrook have a deep firsthand understanding of today’s evolving entertainment content and social media environment – and how to create high-quality, engaging content that spans platforms, genres, and geographies. We look forward to helping accelerate the company’s growth as they continue to build a next-generation leader in global entertainment.”

Jada Pinkett Smith and Will Smith commented: “Westbrook is the realization of our dream to give artists from all backgrounds equal opportunities to pursue their creative visions and share their stories.  We are pleased to join forces with Kevin, Tom and Blackstone to accelerate this mission by growing our content pipeline, our talent network, and our global expansion plans.”

Ko Yada, CEO of Westbrook Inc., said: “When we launched Westbrook just two and a half years ago, our mission was to empower artists to connect the world, and we do that through the independent infrastructure we’re building. We started with a focus on premium content across all platforms in a way that would bring creators, artists, brands, and global audiences together. As we look to the next phase of the company, Kevin, Tom and Blackstone are ideal strategic partners. We look forward to this new relationship, building out more infrastructure, and working with more artists to help tell stories that connect.”

Westbrook was formed to execute the Smith Family’s vision to improve as many lives as possible through storytelling. Their parent company, Westbrook Inc., furthers that mission by providing strategic, financial, legal, and operational support to its studio and media companies and developing new business opportunities for revenue growth and diversification. Westbrook houses Westbrook Studios, the premium film and television studio; Westbrook Media, an integrated IP incubator, brand content studio, and production company; Red Table Talk Productions, maker of the Emmy Award-winning Facebook Watch show Red Table Talk and Red Table Talk: The Estefans; and Good Goods, a direct-to-consumer business which creates unique consumer products around the company’s IP and talent partners. By leveraging the Smith Family’s deep experience in entertainment and media, Westbrook curates and produces content – from short and mid-form digital to traditional television and motion pictures – for all major platforms.

In just over two years, Westbrook has created a diverse and robust slate of content including feature films, scripted and unscripted television, animated series, digital series and more. On the Westbrook Studios side, projects include the critically acclaimed film KING RICHARD, based on the life of Richard Williams, father to tennis greats Serena and Venus, the six-part docuseries on Netflix, Amend: The Fight For America, which uses a groundbreaking narrative format to explore the Fourteenth Amendment through the lens of American history, posing the question, what does “united states” really mean, season 4 of the six-time Emmy nominated and SAG Award nominated series Cobra Kai, and Welcome to Earth with National Geographic which premiered on Disney+. Westbrook Media has produced and released projects with partners including Facebook, Snapchat, YouTube, and HBO Max including Snapchat’s most popular series ever – Will Smith’s Will From Home which garnered 43M+ viewers, as well as Will From Home Season 2, Ryan Doesn’t Know starring Ryan Reynolds, Jaden Smith’s social justice series The Solution Committee, Charli Vs. Dixie with social media sensations, Charli and Dixie D’Amelio, the YouTube series Best Shape of My Life with Will Smith as well as Alicia Keys docu-series, Noted, along withHulu’s photography competition series Exposure, and the HBO Max hit Fresh Prince of Bel-Air reunion.

In addition to the projects that have already been released, upcoming high profile projects include the film EMANCIPATION, which sold to Apple TV+ in the largest film festival acquisition deal in film history, the scripted television series Bel-Air, the dramatic reboot of Will Smith’s iconic The Fresh Prince Of Bel-Air which landed a two season order from Peacock and premieres in February, a five year first-look deal with National Geographic to create adventure, exploration, travel and science content and upcoming Snapchat series Off Thee Leash with Megan Thee Stallion.

Other film projects in production and development include the drama REDD ZONE, starring Jada Pinkett Smith at Netflix and based on the true story of Tia Magee and her sons, the hip-hop musical feature SUMMERTIME based on Will Smith and DJ Jazzy Jeff’s hit song for Sony Pictures’ Screen Gems, CLEAN AIR, a joint project from Westbrook, NASCAR and the Chainsmokers, action-thriller FAST & LOOSE starring Will Smith and directed by David Leitch, and THE SOUL SUPERHERO, a live action musical fantasy film with a screenplay that is co-written by Kwame Kwei-Armah and songwriter-producer, Freddy Wexler, and based on an original story by Wexler. Upcoming television seriesinclude This Joka, a 16-episode standup comedy series premiering on Roku in March 2022; a two-season order of the docu-scripted hybrid series African Queens coming soon to Netflix,and a one-hour variety special hosted by Will Smith.

Westbrook’s executive team includes Ko Yada, CEO, Tera Hanks, President, Gila Jones, COO, Kevin McDonald, CFO, Brad Haugen, President of Westbrook Media, Terence Carter, Co-President, Head of Television, Westbrook Studios, and Jon Mone, Co-President, Head of Film, Westbrook Studios. Westbrook was listed as one of Fast Company’s 10 Most Innovative Companies in 2021.

The name of the Mayer-Staggs-Blackstone backed company, Candle, reflects the light of creativity at the heart of its model as an independent, creator-friendly home for cutting-edge, high-quality, category-defining brands and franchises. By bringing together elite talent operating at the intersection of content, community, and commerce, Candle helps position leading entertainment businesses for accelerated, sustainable growth in the current market and beyond. The company has previously announced acquisitions Hello Sunshine, the mission-driven media company that puts women at the center of every story it creates, founded by Reese Witherspoon; and Moonbug Entertainment, the digital-first, global children’s entertainment company behind highly popular shows such as CoComelon, Blippi, Little Baby Bum, and many others. Blackstone’s investment in Candle has been made through funds affiliated with the firm’s flagship private equity business.

About Westbrook

Launched in 2019 by founders Jada Pinkett Smith, Will Smith, Miguel Melendez, and Ko Yada, Westbrook is a media company that empowers artists to tell stories that connect the world.  Westbrook houses Westbrook Studios, the premium film and television studio; Westbrook Media, a vertically-integrated IP incubator, brand content studio, and production company; Red Table Talk Productions, maker of the Emmy Award-winning Facebook Watch shows Red Table Talk and Red Table Talk: The Estefans; and Good Goods, which creates unique consumer products around the company’s IP and talent partners.  By leveraging the Smith Family’s deep experience in entertainment and media, Westbrook curates and produces content – from short and mid-form digital to traditional television and motion pictures – for all major platforms.

About Blackstone

Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

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Media Contacts

Blackstone:
Matt Anderson
518-248-7310
Matthew.Anderson@Blackstone.com

Westbrook Inc.:
Sarah Rothman
(917) 623-6060
sarah.rothman@ledecompany.com

Meredith O’Sullivan
(310) 754-6016
meredith.osullivan@ledecompany.com

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TPG Real Estate completes acquisition of Studio Babelsberg AG

TPG Capital

January 3, 2022 – TPG Real Estate Partners (“TREP”), the dedicated real estate equity investment platform of alternative asset firm TPG, today announced it has completed the acquisition of Studio Babelsberg AG (“Studio Babelsberg”). Dr. Carl L. Woebcken and Mr. Christoph Fisser, CEO and COO of Studio Babelsberg, respectively, maintain a minority stake in the business.

On 16 September 2021, TREP announced that it agreed to acquire a stake in Studio Babelsberg via acquisition of the company’s main shareholder, Filmbetriebe Berlin Brandenburg GmbH (FBB), which was controlled by Mr. Woebcken and Mr. Fisser. As part of the agreement, FBB launched a public tender offer to acquire a majority of the shares in Studio Babelsberg for a cash offer price of EUR 4.10 per Studio Babelsberg Share. The offer was subject to a minimum acceptance threshold, which was fulfilled on 29 October 2021 following a successful acceptance period. All closing conditions of the transaction have now been fulfilled.

With the closing of the transaction, Studio Babelsberg has become part of TREP’s global studio platform, Cinespace Studios (“Cinespace”). Cinespace is the second largest sound stage operator in North America. With Studio Babelsberg, Cinespace will now operate 90 stages, furthering its strategy of building a best-in-class studio platform for premier content makers across the globe. Studio Babelsberg will continue to operate as an independent brand but benefit from the resources and networks provided by the global platform. Studio Babelsberg has a long history of hosting best-in-class content production, including recent German local language series such as Dark, Babylon Berlin, and 1899, as well as world renowned feature films such as Inglorious Basterds, V for Vendetta, Bridge of Spies, and recently The Matrix Resurrections.

“Across the globe, Studio Babelsberg is known for its quality and as a symbol of Berlin’s and Brandenburg’s creative culture,” said Michael Abel, Partner at TREP. “With Studio Babelsberg, we saw an opportunity to invest behind a leading studio facility that is well positioned to benefit from secular growth trends in media and content consumption. We support the company’s strategy and direction and look forward to growing the business.”

“We are excited to announce a successful completion of the transaction, and to welcome TREP as Studio Babelsberg’s new partner,” said Dr. Woebcken and Mr. Fisser. “The team values our rich history and brings significant insight and business building capabilities to Studio Babelsberg’s next chapter. We look forward to working together to further solidify our position as Europe’s premier studio.”  

“Studio Babelsberg has a strong tradition of film making that has served some of the most iconic films ever made,” said Eoin Egan, COO of Cinespace. “As appetite for high-quality content continues to increase, we look forward to working with the Studio Babelsberg and TREP teams to grow Berlin into a global hub for content production.”

About TPG Real Estate Partners 

TPG Real Estate Partners (“TREP”) is the dedicated real estate equity investment platform of global alternative asset firm TPG. Today, TREP has $5.5 billion of assets under management. Since its inception in 2009, TREP has built a differentiated investment portfolio comprised primarily of real estate-rich platforms and portfolios located in the United States and Europe. TPG was founded in 1992 and now has approximately $109 billion of assets under management with investment and operational teams in 12 offices around the world. For more information, visit www.tpg.com.

Media Contacts

TPG Real Estate Partners 

Deutschland:
Thomas Katzensteiner, Peter Steiner, Tobias Eberle
tpg-cb@charlesbarker.de

Europe: 
Alex Jones, Michael Russell, Daniel Oliver
tpg@greenbrookpr.com

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Mentha Capital invests in international visual content solution provider Bright River

Mentha Capital
21 December 2021
Mentha has entered into a partnership with Bright River, a rapidly growing international visual content solutions provider for many of the world’s leading ecommerce platforms and retailers. Bright River is a Dutch company with a worldwide footprint with offices in Haarlem, New York, Dhaka (Bangladesh) and Chennai (India). Goal of the partnership with Mentha is to accelerate growth and expand activities of the company to new regions and customers worldwide.

In the past year global ecommerce sales jumped to 26.7 trillion and the industry is ramping up for more. This also means there’s a growing need from ecommerce and retail organizations for high quality visual content that provide the best possible shopping experience. With its own technology, 750 employees in offices across three continents and a strong track record, Bright River is perfectly positioned to benefit from this.

Mentha chose to take a stake in Bright River because of the company’s proprietary technology and advanced tech-enabled services model that deliver tangible value for leading ecommerce platforms and retailers like Harrods, Coolblue and Yoox. In a rapidly growing and fragmented market Bright River has the ideal platform to pursue accelerated autonomous and acquisitive growth, both in existing and new industries. As an active shareholder in internationally expanding tech-enabled service companies like previously Destiny and now InSites Consulting and Rapid Circle, Mentha Capital can deploy its extensive knowledge and experience in both operational and strategic areas. Bright River can also count on Mentha’s in-depth expertise in ‘buy-and-build’, which allows the organization to further expand through acquisitions in addition to organic growth.

David Jonkers, CEO of Bright River: “’Having Mentha Capital as a key shareholder is a game changing opportunity for Bright River. They understand and share our vision of the ever growing importance of visual product content in e-commerce, and bring a wealth of experience in the execution of ambitious growth goals. We are thrilled to get started.”

Increase efficiency in visual content production

The right visual product content creates rich, engaging online shopping experiences that help convert customers from browsing to purchasing. Bright River helps clients to drastically increase efficiency in visual content production processes, and decrease the ‘time-to-web’ for products to be published online. Computer Vision-based AI, among other technologies, powers their industry-leading workflow and editing automation, giving their image- and video editing, as well as 3D modeling and CGI rendering services, a decisive edge over their competition.

Edo Pfennings, partner at Mentha: “We are very enthusiastic about this partnership. With its own technology Bright River has built a strong position in a rapidly growing and dynamic market. The management team has big ambitions to scale and accelerate its growth through acquisitions and move into new industries, something that Mentha is well equipped to help with.”

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Storykit raises $10M to fuel global growth

Bonnier Ventures

Storykit, the leading video creator in the Nordics, announced today it has raised $10 million USD in funding, in a growth financing round led by Expedition Growth Capital.

Storykit has almost doubled in 2021, leveraging artificial intelligence to enable companies to create more video than ever before. With the new funding they will accelerate innovation and expansion at an even higher pace.

“We are thrilled to partner with Expedition Growth Capital to realize the enormous potential of Storykit. Video is the number one format for social channels in 2022 and beyond, and with Storykit any marketer or communicator can leverage the power of video. We’ve experienced colossal growth over the past few years, which reflects the increasing demand for organizations to create video with high quality and flexibility, in an ultra-high tempo. We’re really looking forward to fulfilling the strong market demand for our video creator on a global scale,” said Peder Bonnier, CEO and co-founder of Storykit.

Serving predominantly large and medium sized enterprises, Storykit has quickly grown to become the leading video creator in the Nordics, and has recently expanded into several European markets. Key customers include Skandia, Dun & Bradstreet, the City of Stockholm and Lufthansa Systems.

“We have nearly doubled our revenues in the last twelve months, fully on our own cash flow, and are happy to have found yet another partner who is interested in building long lasting, economically viable businesses, without having to compromise on growth. This investment will enable us to further invest in our already market leading product, and expand to more markets and customer segments”, says Peder Bonnier.

Expedition Growth Capital is a $200+ million London-based growth equity fund, focused solely on investing in fast growing and capital efficient B2B software companies in Europe and Israel. This is their first investment in the Nordics.

“Since our first conversations with Storykit in 2020, we have been energised by their commitment to building a company for the long term. This is our first investment in Sweden, and we are delighted to be partnering with such a high quality group of founders and investors”, said Oliver Thomas, Managing Partner of Expedition Growth Capital.

David Olsson, who led the investment and will join Storykit’s board of directors, adds:

“Storykit is addressing an increasingly universal corporate and departmental need – to rapidly produce video content that is highly professional, brand aligned, and cost effective. We see enormous potential for the company in the years ahead and look forward to being a supportive partner for the Storykit team.”

 

Storykit was founded in 2018 by Fredrik Strömberg and Peder Bonnier. By building the complete video creator they aim to enable everyone who can write text to create video. With over 500 customers, and tens of thousands of users all over the world, they are well on their way. For more information, see www.storykit.io

Expedition Growth Capital is a software-specialist growth equity investor, currently investing a $200 million fund. The firm provides growth capital, shareholder liquidity and supportive minority partnership to rapidly growing, capital efficient software companies across Europe and Israel. For more information see www.expedition.capital.

Storykit has almost doubled in 2021, leveraging artificial intelligence to enable companies to create more video than ever before. With the new funding they will accelerate innovation and expansion at an even higher pace.

“We are thrilled to partner with Expedition Growth Capital to realize the enormous potential of Storykit. Video is the number one format for social channels in 2022 and beyond, and with Storykit any marketer or communicator can leverage the power of video. We’ve experienced colossal growth over the past few years, which reflects the increasing demand for organizations to create video with high quality and flexibility, in an ultra-high tempo. We’re really looking forward to fulfilling the strong market demand for our video creator on a global scale,” said Peder Bonnier, CEO and co-founder of Storykit.

Serving predominantly large and medium sized enterprises, Storykit has quickly grown to become the leading video creator in the Nordics, and has recently expanded into several European markets. Key customers include Skandia, Dun & Bradstreet, the City of Stockholm and Lufthansa Systems.

“We have nearly doubled our revenues in the last twelve months, fully on our own cash flow, and are happy to have found yet another partner who is interested in building long lasting, economically viable businesses, without having to compromise on growth. This investment will enable us to further invest in our already market leading product, and expand to more markets and customer segments”, says Peder Bonnier.

Expedition Growth Capital is a $200+ million London-based growth equity fund, focused solely on investing in fast growing and capital efficient B2B software companies in Europe and Israel. This is their first investment in the Nordics.

“Since our first conversations with Storykit in 2020, we have been energised by their commitment to building a company for the long term. This is our first investment in Sweden, and we are delighted to be partnering with such a high quality group of founders and investors”, said Oliver Thomas, Managing Partner of Expedition Growth Capital.

David Olsson, who led the investment and will join Storykit’s board of directors, adds:

“Storykit is addressing an increasingly universal corporate and departmental need – to rapidly produce video content that is highly professional, brand aligned, and cost effective. We see enormous potential for the company in the years ahead and look forward to being a supportive partner for the Storykit team.”

 

Storykit was founded in 2018 by Fredrik Strömberg and Peder Bonnier. By building the complete video creator they aim to enable everyone who can write text to create video. With over 500 customers, and tens of thousands of users all over the world, they are well on their way. For more information, see www.storykit.io

Expedition Growth Capital is a software-specialist growth equity investor, currently investing a $200 million fund. The firm provides growth capital, shareholder liquidity and supportive minority partnership to rapidly growing, capital efficient software companies across Europe and Israel. For more information see www.expedition.capital.

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Espresso Capital provides Boclips with £7 million acquisition facility

espresso capital

London — November 3, 2021 — Espresso Capital announced today that it has provided Boclips, the world’s leading educational video platform, with a £7 million credit facility. The company will use the financing to help fund its strategic acquisition of Boston-based Listenwise Innovation, Inc.

“We’re delighted to be partnering with Espresso,” said Boclips CEO and Founder David Bainbridge. “The funding enables us to execute on our transatlantic M&A strategy and position our business for further expansion in the US market.”

The acquisition of Listenwise, the US market leader in curriculum-geared podcasts for grades 2 to 12, creates a unique offering of video and audio content for global education providers, and positions the combined business for accelerated growth in the US and worldwide.

“Boclips has a demonstrated track record of success, and has grown to become the trusted provider of video content for curriculums,” said Espresso Managing Director Will Hutchins. “With its acquisition of Listenwise, Boclips will be able to offer an even more compelling solution to the education sector, driving value for its customers and unlocking significant cross-selling opportunities.”

Boclips manages the largest educational video resource in the world, providing access to more than 2 million rights-cleared clips from over 350 trusted sources — ranging from news programming from The Wall Street Journal through Ted Talks to specialist tutorial videos from The Smithsonian. Its AI-driven content management system enables users to easily locate the right video for every stage of the school or university curriculum. Customers include courseware developers, EdTech solutions providers, as well as Ministries of Education across the Middle East and Asia.

“Espresso has been great to work with,” noted Bainbridge. “Their flexibility and experience played a critical part in our being able to successfully execute this important M&A transaction.”

About Boclips

Boclips is on a mission to educate, enlighten, and inspire learners of all ages with video. Since the company’s foundation in 2014, the Boclips video platform has offered education providers a single procurement point to find, license, and incorporate video aligned to their courseware. The platform features over 2 million educationally relevant videos including animations, short-form docs, historical footage, and breaking news from 350 of the world’s most trusted content producers, including TED Talks, PBS, The Smithsonian, and AP, as well as teacher-favorites like Crash Course, Minute Earth, and The School of Life. The platform uses machine learning to curate to academic standards and is free from advertising, inappropriate content and data security concerns. For more information, visit https://boclips.com.

About Espresso Capital

Espresso empowers companies with innovative venture debt solutions. Since 2009, we’ve helped more than 300 technology companies and their investors accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital. Learn more at espressocapital.com.

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Ratos company HL Display acquires Display Italia

Ratos

2021-09-02

HL Display is acquiring Display Italia with a revenue of EUR 10M. The acquisition will strengthen HL Display’s customer base and position as a leading supplier for in-store merchandising and communication solutions to grocery retailers in Europe. The enterprise value is approximately EUR 8M corresponding to an EV/EBITA multiple of 5x.

Display Italia, based in Reggio Emilia, in northern Italy, has an annual sale of EUR 10M and employs 38 people. Founded in 1989, Display Italia has built a strong position in Italian retail, catering both to grocery retail, pharmacies and branded suppliers.

“With the acquisitions of Display Italia, HL Display has now completed its third bolt-on acquisition in 2021, in line with its communicated strategy. The acquisitions strengthen HL Display’s overall business, are strategically important and contribute financially through cost and revenue synergies. I am very impressed with how HL Display has been able to execute on its inorganic growth ambition throughout the year.” says Joakim Twetman, Head of Business Area Industry. “For Ratos, add-on acquisitions is one of the key initiatives to meet our financial targets.”

“Since the start of our partnership in 1989, Display Italia has built a very strong market presence in Italy, creating a better shopping experiences together with retailers and brands. Their knowledge of the Italian grocery landscape and passion for retail has made them an essential partner for HL Display and I am looking forward to further our presence in Italy,” says Björn Borgman, CEO of HL Display.

The acquisition was completed on 1 September 2021.

For further information, please contact:
Josefine Uppling, VP Head of Communication & Sustainability, Ratos
+46 76 114 54 21
josefine.uppling@ratos.com

Joakim Twetman, Head of Business Area Industry, Ratos
+46 70 339 16 66
joakim.twetman@ratos.com

Björn Borgman, CEO, HL Display
+46 72 264 17 90
bjorn.borgman@hl-display.com

About HL:
HL is a global leader in in-store merchandising and communication solutions, helping customers to create a better shopping experience around the world. Founded in 1954, HL today is present in more than 70 countries and solutions can be found in 295,000 stores, helping customers to grow sales, inspire shoppers, drive automation and reduce waste. The HL Display Group has its headquarter in Stockholm, Sweden and sales companies covering 26 markets as well as distributor partners covering the remaining markets globally. The company has 1,000 employees and net sales of SEK 1,610M.

About Ratos:
Ratos is a business group consisting of 12 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2020, the companies have approximately SEK 34 billion in sales. Our business concept is to develop companies headquartered in the Nordics that are or can become market leaders. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

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Innovid, a Global Leader In Connected TV Ad Delivery and Measurement, to Become Publicly Listed at an Implied $1.3 Billion Valuation via a Merger with ION Acquisition Corp. 2 Ltd.

DTCP

Total raised to be approximately $403 million including proceeds from ION Acquisition Corp 2 and a PIPE from Fidelity Management and Research Company LLC, Baron Capital Group, funds associated with ION, and others

  • Innovid is going public via a merger with ION Acquisition Corp. 2 Ltd. (NYSE: IACB), a publicly traded special purpose acquisition company, or SPAC, with $253M in trust.
  • The transaction implies a pro forma valuation of approximately $1.3 billion for Innovid.
  • Innovid has also secured approximately $150 million of PIPE financing anchored by top-tier institutional investors including Fidelity Management and Research Company LLC, Baron Capital Group and others including funds affiliated with ION and Phoenix Insurance.
  • The company has spent the past decade focused on developing critical technology infrastructure for the creation, delivery, and measurement of TV ads across connected TV (CTV), mobile TV and desktop TV.
  • Existing investors including Goldman Sachs, Sequoia Capital, Newspring, Genesis Partners and Vintage will remain shareholders under the proposed structure.
  • Innovid plans to extend its technology edge through expanding integrations with leading CTV publishers across international markets, the launch of additional personalized CTV ad formats, and the introduction of progressive identity solutions with the goal of advancing the underlying technology infrastructure supporting the TV advertising ecosystem’s shift from linear to digital.
  • Innovid’s founders have been together since the company’s inception, over a decade ago, and continue to serve on the management team.
  • The transaction is expected to close in Q4 of 2021.

NEW YORK, NY (June 24, 2021) – Innovid, the world’s largest independent ad delivery and measurement platform for connected TV, today announced it has entered into a definitive merger agreement with ION Acquisition Corp. 2 Ltd. (NYSE: IACB), a special purpose acquisition company. The combined company will operate under the Innovid name and will trade on a US national exchange. The transaction is expected to close in Q4 of 2021.

Founded in 2008, Innovid is a leading independent software platform that provides critical technology infrastructure for the creation, delivery, and measurement of TV ads across CTV, mobile TV and desktop TV. As the only ad server purpose-built for TV, Innovid developed the first and still the most advanced CTV SDK on the market. Innovid’s SDK powers personalized and interactive experiences in CTV through direct integrations across over 50 apps, providing the infrastructure layer behind the advertising shown by some of the biggest names in streaming including Roku (ROKU) and Hulu. The company has spent the past decade focused on building deep relationships across the CTV and OTT industry. Through this focus Innovid has achieved a growing list of industry firsts and key milestones including: the first and only ACR integration with Roku, the first and only buy-side ad server w/MRC certification for CTV measurement, the first and only platform delivering ads into NBCU’s Peacock, as well as serving the first and only interactive Super Bowl ad. The company has also actively worked to connect the different parts of the TV ad-tech ecosystem by launching a consortium with leading independent programmatic platforms The Trade Desk (TTD), Magnite (MGNI), and others to power advanced creative buying at scale across CTV. As the $200 billion dollar TV industry continues to shift to CTV, the company is positioned to take a leadership role in a significant and high growth market.

Additionally, over the past few years, Innovid has expanded its offering to encompass independent global ad serving, data-driven personalization, and new forms of measurement designed to connect all channels in a clean, comparable, and privacy-compliant manner. This offering gives marketers the option to consolidate CTV advertising with desktop TV, mobile TV, display, social and more, through Innovid’s proprietary omni-channel solutions. Furthermore, the open platform boasts a slew of workflows and integrations to seamlessly integrate ad delivery and optimization with preferred external providers. Of note, Innovid does not transact media and therefore has zero media buying conflicts, enabling it to work as a truly independent company across the entire advertising ecosystem.

Innovid at scale:

  • Innovid serves a global client base of brands, agencies, and publishers through offices across the Americas, Europe, and Asia Pacific, delivering ads across a growing global footprint.
  • Innovid currently serves over 40% of the top 200 U.S. TV advertisers, providing technology infrastructure to enable the creation, delivery, and measurement of TV ads across CTV, mobile TV and desktop TV.
  • The Innovid ad serving platform grew impression delivery across CTV devices by more than 70% year-to-date 2021 over the same period in 2020.
  • Named a leader in the Forrester Wave: Creative Ad Tech, Q4 2020 report, the technology powers the generation of personalized ad permutations as well as ad delivery across a footprint spanning over 75 million connected homes.

“Innovid is entering an exciting new chapter of growth as a public company, a major milestone that corresponds with rising adoption and demands for streaming television.” said Zvika Netter, Co-Founder and CEO at Innovid. “The rapid shift of viewership from linear TV to streaming has driven marketers to make CTV a strategic investment focus. Our technology was purpose-built for TV which has allowed us to win in the marketplace and contributed to our rapid growth to date.”

Mr. Netter continued, “As a public company, we expect that we will be able to build on our leading market position, accelerate the growth of our business, and remain the independent platform trusted by the world’s largest TV advertisers. We are proud to have built an independent and neutral software platform to allow advertisers to create, deliver and measure digital TV ads and aim to continue to provide the industry a market leading and transparent offering independent of the large technology walled-garden players who dominate many other parts of the digital world.”

Gilad Shany, CEO of ION said, “We believe Innovid has built an exceptional platform for digital TV advertisers to assist them as they transition $200 billion of TV advertising budgets to the world of digital TV. We are excited to partner in bringing Innovid to the public markets to provide the appropriate capital structure and shareholder base to enable Innovid to lead this market as an independent company. We were looking to merge with an exceptional company with roots in the Israeli hi-tech ecosystem and Innovid’s incredible achievements speak for themselves. The combination of long-term partnerships built by the company throughout the CTV and OTT industry, their strong relationships with the largest TV advertisers in the world, unique ad serving technology and focus on a usage-based software business model, allows Innovid to provide significant value to the digital TV advertising ecosystem while also achieving attractive unit economics as the company grows. With many years of growth ahead as users continue the shift from linear to digital TV, we look forward to joining Zvika and the team for an exciting journey and incredible business opportunities.”

Transaction Overview

Innovid has entered into a definitive agreement to merge with ION Acquisition Corp. 2 Ltd., for an implied pro forma aggregate equity valuation of approximately $1.3 billion. The transaction is supported by approximately $150 million of PIPE financing anchored by top-tier institutional investors including Fidelity Management and Research Company LLC, Baron Capital Group, Vintage and others including funds affiliated with ION and Phoenix Insurance.

The proposed transaction is expected to be completed in Q4 2021, subject to approval by the shareholders of ION, and satisfaction of other customary closing conditions.

Advisors

Evercore LLC acted as sole financial and capital markets advisor to Innovid and also acted as a placement agent on the PIPE. Latham & Watkins LLP and FWMK Law Offices acted as legal counsel to Innovid.

Morgan Stanley acted as sole financial advisor to ION and also acted as lead placement agent to ION on the PIPE. White & Case LLP and Goldfarb Seligman & Co. acted as legal counsel to ION. Debevoise & Plimpton LLP acted as legal counsel to the placement agents.

Kost Forer, Gabbay & Kasierer, a member of Ernst & Young Global Limited, is acting as independent auditor.

Forward-Looking Statements Legend

This document contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between Innovid Inc. (“Innovid”) and Ion Acquisition Corp 2 Ltd. (“Ion”), including statements regarding the benefits of the transaction, the anticipated timing of the transaction, the services offered by Innovid and the markets in which it operates, and Innovid’ projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: Innovid’s ability to maintain and expand relationships with advertisers; the decrease and/or changes in CTV audience viewership behavior; the failure to make the right investment decisions or the failure to innovate and develop new solutions that are adopted by advertisers and/or partners; Innovid’s estimates of market opportunity, forecasts of market growth and projections of future financial performance; Innovid’s sales and marketing efforts requiring significant investments and long sales cycles; failure to manage growth effectively; the business combination not be satisfied on a timely basis or at all, and other risks and uncertainties indicated from time to time in the proxy statement/prospectus, including those under “Risk Factors” therein, and in Ion’s other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Innovid and Ion assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Innovid nor Ion gives any assurance that either Innovid or Ion will achieve its expectations.

Additional Information and Where to Find It

This document relates to a proposed transaction between Innovid and Ion. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Ion intends to file a registration statement on Form S-4 that will include a proxy statement of Ion and a prospectus of Ion. The proxy statement/prospectus will be sent to all Ion and Innovid stockholders. Ion also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and security holders of Ion and Innovid are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction.

Investors and security holders will be able to obtain free copies of the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Ion through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by Ion may be obtained, without charge, at the SEC’s website located at www.sec.gov or by directing a request to Ion.

Participants in Solicitation

Ion and Innovid and their respective directors and officers may be deemed to be participants in the solicitation of proxies from Ion’s stockholders in connection with the proposed transaction. Information about Ion’s directors and executive officers and their ownership of Ion’s securities is set forth in Ion’s filings with the SEC. To the extent that holdings of Ion’s securities have changed since the amounts printed in Ion’s proxy statement, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed transaction may be obtained by reading the proxy statement/ prospectus regarding the proposed transaction when it becomes available. You may obtain free copies of these documents as described in the preceding paragraph.

About ION Acquisition Corporation

The Company is a blank check company incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue a business combination target in any business or industry, the Company intends to focus on the rapidly growing universe of Israeli companies and entrepreneurs that apply technology and innovation to our everyday lives. The Company is sponsored by ION Holdings 2, LP, an affiliate of ION Asset Management Ltd

About Innovid

Innovid is the only independent omni-channel advertising and analytics platform built for television. We use data to enable the personalization, delivery, and measurement of ads across the widest breadth of channels in the market including TV, video, display, social, audio, and DOOH. Our platform seamlessly connects all media, delivering superior advertising experiences across the audience journey. Innovid serves a global client base of brands, agencies, and publishers through fifteen offices across the Americas, Europe, and Asia Pacific. For more information visit www.innovid.com.

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