Arrowpoint Advisory's TMT sector team has completed a 10m buy-out of the UK's leading broadcast & digital PR agency, The Television Consultancy, backed by Livingbridge.
Listed as PR Week's fastest growing agency in 2007 and ranked as the No. 8 consumer agency in PR Week's most recent league table, TVC provides clients with broadcast-led campaign strategy, planning and media relations, and access to in-house production facilities. TVC will use the investment from Livingbridge to support ongoing growth in its core television and radio broadcast markets, as well as in its expanding online and digital offering. The transaction will also allow TVC's shareholders to realise significant value in the business whilst retaining a very meaningful stake going forward.
Elaine Stern, Founder and CEO of TVC, said: “This deal allows us to maintain our independence, whilst giving us more resources to invest in talent and services that will enable TVC to provide an even more compelling offering for our clients in this rapidly-evolving market. Richard Fetterman and Daniel Domberger at Arrowpoint Advisory were invaluable to us, giving us strategic, as well as commercial and practical advice from our first meeting right through to completion. We are delighted with the result.”
Paul Morris, who led the investment for Livingbridge, added: “In TVC we are backing a leader in the fast growing area of Broadcast and Digital PR, highly valued by its clients and broadcasters, and with a track record of successful innovation and service expansion. We look forward to partnering with TVC for its next stage of growth.”
This is the second deal Arrowpoint Advisory has completed with Livingbridge in as many months, following hot on the heels of the 25m buy-out of international online B2C car hire broker, Travel Jigsaw.