Blake Lapthorn advises Maidstone Road Holdings Limited on its
acquisition by Chime Communications PLC
Blake Lapthorn, one of the leading law firms in the UK, has
successfully advised the shareholders of Maidstone Road Holdings
Limited (the parent company of Icon Display Limited) on its
acquisition by PR, advertising and marketing group Chime
Communications plc for an initial consideration of £11.6 million
with further significant tranches payable in two future instalments
depending on the success of Icon.
The Icon Group, an experiential marketing business, is based in
Kent and started its activities in 1949. Icon brings sponsors’
brands to life at stadia and major sporting events around the
world, usually on the basis of multi-year contracts. Its customers
include major sporting federations such as UEFA where Icon has
assisted in the physical branding of the UEFA Champions League for
the past seven years. Other customers for whom Icon has worked or
is currently working include FIFA; the Ryder Cup; the Boat Race;
Abu Dhabi Motor Sports; and LTA Wimbledon.
Chime sees significant growth opportunities for Icon resulting
from the Olympic Games in London in 2012 and in Rio in 2016 and in
utilising the contacts and relationships with major world sporting
federations that Icon will bring to its Sports Marketing division.
The experiential marketing activity is also a business that other
Chime companies will market to their clients.
The Blake Lapthorn team was led by client partner Manoj
Styche-Patel, with assistance from Kathy Hills
(Tax), Dan Curtis
(Property) and
members of our Employment team. The deal was signed in the
early hours of Wednesday 6 April, at the beginning of the new tax
year.
Manoj said: "We are delighted to have been able to assist the
Icon team with this transaction and provide them with a wide range
of legal advice. We very much look forward to seeing the company go
from strength-to-strength and continuing to work with the team
moving forward."
The acquisition comes two-and-a-half years after the firm acted
for the management team of Icon in a Management Buy Out from its
then parent organisation, CSS Stellar Plc. Blake Lapthorn has acted
on several acquisitions for Icon since then.
Icon Finance Director Dave Weller commented: “We have worked
with Manoj and his team for the management buy-out, our subsequent
acquisitions and now this company sale. Throughout this time they
have always been more than just very professional solicitors; they
have become part of the 'Icon team' being proactive, supportive
and, above all, actually achieving the impossible by making it
enjoyable to work through legal issues and processes with
them.”
For more details, please contact Daniel Baber,
PR manager at Blake Lapthorn on 020 7814 5489 or 07771 930 084, or
at daniel.baber@bllaw.co.uk.
