Birketts, the top 100 law firm based in East Anglia, has advised the shareholders of Telegenic Holdings Limited on their sale to Euro Media Group (EMG), a major player in the UK and European outside broadcasting market. The financial value of the deal was undisclosed.
The acquisition is part of EMG’s strategy to grow its business in the UK and Europe, as well as to expand its range of production capacities and services to enable the Group to better cover major global live events.
Founded in 1981 and based in Buckinghamshire, Telegenic operates a fleet of 15 outside broadcast and production trucks equipped with the most advanced technology available for HD and UHD HDR productions. The firm employs around 100 people and provides services to some of the world’s leading sports, entertainment and music clients, including Sky, BT Sport and the PGA Tour.
Birketts advised the majority shareholders on all legal matters. Adrian Possener and Ed Savory co-led the multi-disciplinary legal team which included support from William Kemp (Corporate), Robert Mackay (Corporate), Sam Greenhalgh (Employment), John Khan (Corporate Tax), Melissa Loucas (Commercial Property) and Lucy Broad (Commercial Property).
Ed Savory, Birketts said: “The transaction involved a complex set of steps to allow the founders of EMG, Michael Spencer and David Barber, to first exit the group, and for the management board to exercise their options before the sale of the entire issued share capital of Telegenic Holdings Ltd to EMG by Peter Bates, Terry James and the option holders. It has been an absolute pleasure to advise Peter and Terry through the process. For Telegenic to become part of the Euro Media Group is a great move forward and the enhanced group will utilise the experience and expertise of the current Telegenic management team to continue developing the business with the support of the Group. It was refreshing to advise sellers who went out of their way to protect the future of the business and to look after those who have been instrumental in getting Telegenic to where it is today.”
Peter Bates said: “The Birketts team did an outstanding job and delivered the transaction for us overcoming some tricky challenges along the way. Terry and I felt like we were looked after throughout the process being advised and guided by lawyers who are commercially-minded and proactive. And good fun. Which made all the difference when negotiations became tense at times.”
Adrian Possener commented: “It is wonderful to see Peter and Terry reap the fruits of their hard work. Having taken control of the company via an MBO several years ago, with the senior management they have pushed Telegenic onto another level. The next chapter promises to be very exciting.”
This article is from the spring 2019 issue of Inside Out, our newsletter for those with an interest in corporate and commercial services. To download the latest issue, please visit the newsletter section of our website.
To keep up-to-date with the latest news, legal updates and seminar information, please register and select the areas that are of interest to you.
The content of this article is for general information only. It is not, and should not be taken as, legal advice. If you require any further information in relation to this article please contact the author in the first instance. Law covered as at February 2019.