Smith & Williamson, the accountancy, investment management and tax group, has advised on the conditional sale of Greenlight Digital Limited and Greenlight Commerce Limited to Brave Bison Group PLC for £6.8 million.
Greenlight, the digital advertising and technology business, was established by Warren Cowan and Andreas Pouros in 2003. Today Greenlight works with an array of blue-chip brands and omni-channel retailers on multi-channel digital strategies and innovative new technology solutions, including Dixons Carphone, Muller, GAP and New Balance.
Brave Bison, the AIM-listed global social media and marketing company, entered into a conditional agreement to acquire Greenlight for £6.8 million. The expansion is set to more than double Brave Bison’s revenues in the first year.
The deal and placing require the backing of shareholders at a general meeting on 31 August. The acquisition, if approved, is expected to be completed on 1 September.
Iain Lownes, partner at Smith & Williamson and Paul Stagg, senior manager, provided corporate finance advice on the transaction. Jenny Batchelor and Charlotte Spratt provided tax advice.
Warren Cowan, Chairman of Greenlight, said: “We were pleased to work with the team at Smith & Williamson who gave considered and timely advice. They were always on hand to guide us through the transaction with a party that we believe to be the right strategic acquirer for the business and the management team.”
Iain Lownes commented: “It was a pleasure to work with the Greenlight team to deliver a deal that enables certain key shareholders to step away from the business while creating the opportunity for management to continue its growth. We wish all parties well for the future.”
Legal advice was provided by Freeths LLP, led by Leon Arnold and Mohammed Abbas.
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