M&A Deal Summary

Providence Equity Partners Acquires Chime

On August 31, 2015, private equity firm Providence Equity Partners acquired marketing company Chime for 374M GBP

Acquisition Highlights
  • This is Providence Equity Partners’ 2nd transaction in the Marketing sector.
  • This is Providence Equity Partners’ 26th largest (disclosed) transaction.
  • This is Providence Equity Partners’ 4th transaction in the United Kingdom.

M&A Deal Summary
Date 2015-08-31
Target Chime
Sector Marketing
Buyer(s) Providence Equity Partners
Deal Type Going Private
Deal Value 374M GBP
Advisor(s) Moelis & Co. (Financial)

Target

Chime

London, United Kingdom
website
Chime provides sports marketing, public relations, advertising, market research, direct marketing, and design and event management consultancy services. Chime was founded in 1989 and is based in London, England.

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Buyer(S) 1

Buyer

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1989
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Providence Equity Partners is a specialist private equity firm that targets investments in media, entertainment, communications, and information companies. Specifically, Providence seeks investments in wireless and wireline telephony, cable television content and distribution, music, film, publishing, radio and television broadcasting, and other media and communications sectors. Providence Equity looks to commit $150 million to $800 million of equity capital in transactions ranging from growth financings and recapitalizations, to buyouts and take-privates. Providence Equity Partners was formed in 1989 and has offices in Providence, Rhode Island; New York, New York; Los Angeles, California; London, United Kingdom; Hong Kong, China; and New Delhi, India.

DEAL STATS #
Overall 84 of 134
Sector (Marketing) 2 of 5
Type (Going Private) 11 of 12
Country (United Kingdom) 4 of 9
Year (2015) 3 of 7
Size (of disclosed) 26 of 34
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-26 Ironman

Tampa, Florida, United States

Ironman operates a global endurance sports portfolio with more than 230 triathlon, road running, trail running, cycling and mountain biking events across 57 countries. The iconic IRONMAN® Series of events is the largest participation sports platform in the world. Ironman was formed in 1978 and is based in Tampa, Florida.

Sell $650M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-02 Ministry Brands

Lenoir City, Tennessee, United States

Ministry Brands is a provider of SaaS platforms for churches, parachurch ministries and other faith-based organizations in the United States and Canada. The company seeks to equip the 21stcentury church with technology that empowers pastors, church executives, technology professionals, and administrators to proactively carry out their Biblical mission with excellence, reverence, and efficiency. Its suite of solutions includes church management, giving, accounting, mobile applications, website development, background checks, content, streaming, and messaging. Ministry Brands was formed in 2012 and is based in Lenoir City, Tennessee.

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