Investment bank seals deal for London based media specialist
Manchester investment bank GCA Corporation is to acquire a technology and media investment specialist.
The parent company of GCA Altium has announced it will acquire Stella EOC, a technology and media investment banking boutique with coverage in the UK and Europe.
Launched in 2001 Stella EOC works with companies, entrepreneurs and investors covering the entire corporate advisory spectrum, from mergers, trade and financial sales, carve-outs and leveraged buy-outs, to acquisitions, fund raises and strategic advising.
It operates from offices in London, Stockholm and Lausanne.
Stella EOC has led on a number of significant deals in the UK, including the £50m sale of UK-based daily newspaper the i to the publicly listed owner of the Daily Mail, DMGT.
It also advised on the £45m investment from US-based Valance Media into London-based television and film producer Fulwell 73, which produces the likes of ‘Carpool Karaoke’ and documentaries such as ‘I am Bolt’, as well co-producing The Late Late Show with James Corden.
The partnership, which will see Stella EOC adopt the brand of GCA’s European business, GCA Altium, will expand the firm’s coverage into key strategic markets, strengthening its technology practice and adding expertise in the media and entertainment space.
GCA Altium will acquire 44 members of staff from Stella EOC globally – 23 of which are based in London – bringing GCA’s total headcount to more than 510 employees (with over 400 bankers) operating across 25 locations in 14 countries.
In 2019 the two firms generated a combined revenue of around £180m and closed around 200 deals.
The acquisition will see the two companies focus on high growth sectors, particularly in the media, and tech sectors.
The substantial opportunities for synergies between the businesses is expected to boost revenue growth through broader global coverage and increased cross-border capabilities.
GCA Altium will continue to provide its clients – a range of companies from the world’s largest conglomerates and corporate, to the top financial sponsors and growth companies – with banking advisory services including M&A, debt and equity capital markets.
Phil Adams, CEO of GCA Altium, said: “GCA Altium and Stella EOC are a great fit in that we can expand our coverage even further into wider European markets including Nordics and Benelux, where we have not had a presence to date and where we see exciting opportunities for our clients across the globe.
“Stella EOC is a leader in the technology and media M&A space and as such, perfectly complements our strong technology sector focus.”
Fredrik Malmberg, Managing Partner at Stella EOC, added:“This combination with GCA marks a new chapter for Stella EOC.
“After a sustained period of growth and having delivered landmark tech and media transactions across Europe, we’re delighted to embark on this next phase, extending our expertise to the US and Asia and delivering an extended range of services to our clients and stakeholders.”
Under the terms of the agreement, which has been unanimously approved by the Boards of Directors of both GCA and Stella EOC, GCA will purchase 100% of Stella EOC via an all share acquisition.
The transaction is expected to be completed in April.
