Finance Monthly Deal Maker Awards 2016 Edition

FINANCE MONTHLY DEAL MAKER AWARDS 2016 www.finance-monthly.com 17 Ciesco advises Trinity Mirror Plc on the sale of its digital marketing business Rippleffect to Idox Plc Chosen for his involvement in the following transaction: CHRIS SAHOTA Chief Execut ive, Ciesco Group WINNER: Ciesco is a London-based boutique corporate finance advisory firm, specialising in M&A advisory and business strategy for the digital, media, marketing and technology sectors, with coverage of Europe, Asia and North America. Ciesco works with entrepreneurs and global corporates who require specialist advice on domestic or cross-border transactions, divestitures and business strategy, as well as private equity firms looking for growth or exit opportunities for their portfolio companies. Led by practitioners with deep industry experience and expertise within new media and disruptive technologies, Ciesco is able to deliver its clients independent and sound advice and execution, as well as access to an extensive network of direct contacts with high quality investors globally. ABOUT CHRIS SAHOTA Chris is the founding partner and CEO of Ciesco. Chris is a practitioner from the industry with over 25 years of specific sector experience in the digital, media and marketing and related technology. During his corporate career, he has managed and evaluated hundreds of businesses across the globe. Prior to setting up Ciesco, Chris has held senior regional positions at some of the leading companies within the sector. He was the Global Head of M&A for McCann Worldgroup, the Chief Operating Officer of EMEA for McCann Erickson and prior to joining McCann he had previously managed the North American Operations of Initiative Media and the International Operations of Foote Cone & Belding. He also gained exposure to working with some of the leading global brands, from the large auto groups such as Chrysler and General Motors to the technology giants, Samsung and Microsoft. He is able to use the knowledge, experience and contacts this has brought him to the commercial advantage of Ciesco’s clients. FIRM PROFILE CONTACT Chris Sahota – Chief Executive, Ciesco Telephone: 020 3771 3173 E-mail: chris.sahota@ciescogroup.com Please summarize the transaction Ciesco advised Trinity Mirror Plc, the UK’s largest national and regional multimedia content publisher (with a market cap of £300m), on the sale of its digital marketing business Rippleffect to AIM-listed Idox Plc (market cap of £247m). Rippleffect is one of the UK’s leading strategic, full service digital agencies with award- winning capabilities across strategy and planning, user experience, web design and development, ecommerce, SEO and digital advertising. Based in Liverpool and employing over 70 staff, the agency is an Econsultancy Top 100 digital agency, delivering creative digital solutions and works with some of the UK’s most ambitious brands and influential organisations, including Everton and Liverpool football clubs, UK Sport, Aldermore Bank, J D Wetherspoon and the Health Foundation. Following a significant shift in strategy at the parent group level, Rippleffect was no longer viewed as a core asset. Both Trinity Mirror and Rippleffect management team recognised the potential for the company to thrive under new ownership. What was your role within the transaction? Ciesco was mandated to explore off-market, discreet conversations with select pre- qualified buyers identified based on our knowledge of the digital media space, our strong relationships at senior level with these buyers and familiarity with their acquisition criteria. Ciesco also pursued a more controlled auction process to a wider scope of relevant potential buyers in order to drive up value and competitive tension. What were the challenges or difficulties presented? The business posed certain challenges (departing CEO, declining business, below peer margins, etc.). Finding the perfect partner who would share Rippleffect’s vision and ambitions, managing value expectations and execution risks were all critical. How were the challenges or difficulties overcome? Leveraging our extensive network of contacts with high quality buyers and unrivalled industry knowledge and expertise, we were able to provide independent, tailored advice and an efficient execution and direct support to management and shareholders throughout the process. The deal was completed within 3 months of going to market, allowing Trinity Mirror to dispose of its non-core asset, while Ripleffect becoming part of a major strategic player with complementary strengths. What are your thoughts and predictions for 2017 and beyond? At Ciesco we regularly track activity in the media, marketing and technology sectors throughout the year and publish our key findings in an annual report. We expect to see the global holding networks, which have been aggressively acquiring in the past decade, divest operations in some regions. We also expect a number of management buyouts of businesses from the holding networks within the coming year where businesses are orphaned within these groups but carry strong potential if they were standalone businesses. TRANSACTION REPORT Q Q Q Q Q