28th April 2011 - GP Bullhound advises Skyline Solar, the leading manufacturer of integrated concentrated solar systems
Posted On: 2011-04-28 05:22:29
GP Bullhound, the technology investment bank, announces the completion of a funding round for the Mountain View, California-based company Skyline Solar, Inc. (“Skyline”), which will allow Skyline to ramp its recently announced next generation X14 integrated concentrated photovoltaic (CPV) system. The terms of the financing were not announced.
Skyline Solar manufactures integrated CPV systems, incorporating industry-proven silicon cells, durable mirrors and single-axis tracking into an easy-to-deploy energy solution. The Skyline Solar X14 System delivers a levelized cost of energy (LCOE) below ten cents per kilowatt-hour (kWh), including incentives, in areas with high sun exposure. Built primarily out of commodity materials and assembled using globally available manufacturing processes, the Skyline X14 System offers customers excellent financial returns and outstanding scalability.
Tom Rohrs, Skyline’s Chairman and CEO, commented “We selected GP Bullhound because of their global reach, which provided us with access to investors in the United States, Europe and Asia. Their strong track record, experience and breadth of relationships in the renewable energy sector proved highly valuable to our fundraising process.”
Skyline Solar represents the completion of GP Bullhound’s sixth transaction in the clean technology sector in the past 18 months and further solidifies the firm’s global leadership position in the solar sector.
11th April 2011 - GP Bullhound publishes new research report: "Deal or No Deal?: The Rapidly Growing Social Commerce and Daily Deals Market"
Posted On: 2011-04-11 08:32:56
The social commerce industry has exhibited viral growth in the last year and is expected to continue its trajectory, growing to $30 billion by 2015. The industry’s daily deals segment is expected to grow similarly, at a compound annual growth rate (CAGR) of over 46% for the next three years. In affirmation, headline fundraises and rejected takeover offers from Internet giants and financial investors have continued to entice new daily deals entrants in droves.
With thousands of daily deals providers worldwide, we expect continued consolidation from market leaders and those looking to enter the sector. Differentiation will be key for sustained profitability and longevity. GP Bullhound’s latest sector research report explores the past, present, and future of the social commerce landscape and daily deals sector.
7th April 2011 - GP Bullhound advises sunglassesshop.com on its sale to Glasses Direct
Posted On: 2011-04-07 09:56:54
GP Bullhound, the technology investment bank, has acted as the sole advisor to sunglassesshop.com on its sale to Prescription Eyewear Ltd. ("Glasses Direct").
sunglassesshop.com is the UK’s leading independent online retailer of designer sunglasses offering an unparalleled choice of luxury sunglasses from over 100 brands, the team recently expanded its business across Europe with sites in 12 languages. The two companies combined, which will operate separately, attract more than eight million unique visitors annually and sell nearly a quarter of a million pairs of sunglasses a year.
Glasses Direct chief executive officer Kevin Cornils said: “sunglassesshop.com is the clear leader in the sunglass market, with an unbeatable selection of over 8,000 frames. He added that sunglassesshop.com had 'unrivalled knowledge of performance and sports sunglasses' as well as being a source of celebrity sunglassesshop.com is part of our ongoing strategy to have the best in class proposition in all segments of the online eyewear market.”
Daniel Puddick, CEO and Co-founder of sunglassesshop.com added: "GP Bullhound's global network and strong M&A execution skills allowed sunglassesshop.com to find the right strategic partner to establish a leading player in the sector and deliver an excellent result for all the shareholders."
This represents the completion of GP Bullhound’s eleventh transaction in the Internet sector in the past twelve months, including Interactive Investor (UK), King.com (UK), Starlounge (Sweden), Avito.ru (Russia), Euroffice (UK), Private Outlet (France) and Figleaves (UK) and further underlines the Firm’s leadership position in representing the elite of the European Digital Media sector.
6th April 2011 - GP Bullhound hosts Breakfast Roundtable - the Rapidly Growing Social Commerce and Daily Deals Market
Posted On: 2011-03-29 05:35:39
The social commerce industry has exhibited viral growth in the last year and is expected to continue its trajectory, growing to $30 billion by 2015. Similarly, the industry’s daily deals segment is expected to grow at a compound annual growth rate (CAGR) of over 46% for the next three years. As the number of daily deals players continues to inundate the market, the industry has attracted the interest of Internet giants and entrepreneurs alike.
With the release of our latest research report we are hosting a Breakfast Roundtable in our London office, where we will discuss the past, present and future of the social commerce landscape and daily deals sector.
Alec Dafferner, Partner, GP Bullhound San Francisco presents key findings alongside industry speaker Luca Pagano, CEO Glamoo.
23rd March 2011 - Media Momentum Awards announces shortlist
Posted On: 2011-03-23 08:06:44
London, 23 March 2011 – Technology investment bank GP Bullhound today announced the 50 companies on the shortlist for its Media Momentum awards honouring the Fastest Growing Digital Media Companies in Europe. Amongst the nominated companies are Adconion, Betsson, Bigpoint, Deezer, Moneybookers, notonthehighstreet,Privalia, Velti, Wonga.com and more.
The 7th annual Media Momentum is hosted by GP Bullhound, with premium sponsors Schroders Private Banking, Acton Capital Partners and Kemp Little. The Media Momentum top 50 league table and awards recognise the most innovative and fastest growing companies in the European Digital Media Economy and are considered a significant calendar date for the industry. The event takes place on 19 May 2011 at the W Hotel in Barcelona, and the winners will be announced at an awards dinner that evening.
GP Bullhound is furthermore hosting the inaugural Media Momentum CEO Summit, a high-level, invitation-only forum for Europe’s leaders in the Internet and Digital Media domain. Per Roman, Partner at GP Bullhound and CEO Summit host, said:
“The CEO Summit will provide a unique forum for Europe’s successful entrepreneurs and business leaders to meet each other and to share their experiences building global leaders that harness the power of Internet and Mobile. Attendees include Xavier Court, co-founder of vente-privee.com, Lars Hinrichs, founder of Xing, Mark Read, CEO of WPP Digital, Werner Vogels, CTO of Amazon, MånsHultman, founder of QlikTech, Gianluca D’Agostini, founder/CEO of Nemobile and Mika Salmi, Chairman of Sulake/Habbo.
The 50 companies shortlisted for the awards will be featured in GP Bullhound’s Top 50 league table and 10 companies will be invited to present their businesses to leading digital figures including:
• Xavier Court, co-founder of vente-privee.com
• Lars Hinrichs, founder of Xing
• Mark Read, Director of Strategy WPP and CEO of WPP Digital
• Måns Hultman, founder of QlikTech
• Mark Sebba, CEO of NET-A-PORTER
• Kristian Segerstrale, co-founder and CEO of Playfish
• Steve Rosenblum, founder & CEO of Pixmania
• Seb Bishop, founder of eSpotting and CEO of (RED)
• Anil Hansjee, Head of M&A Google Europe
• Manish Madhvani, co-founder and Partner of GP Bullhound
• Per Roman, co-founder and Partner of GP Bullhound
This panel will decide on the winners for each of the following categories:
• Fastest Growing Company Award
• Fastest Growing Larger Company Award
• Unique Leadership Award
• Best Global Potential Award
• Most Innovative Company Award
• Media Momentum Woman of the Year
• Media Momentum Man of the Year
• Judges Award
Entrants for the awards must have a turnover of at least €1.5 million in 2010 and be headquartered in Europe. The Top 50 fastest growing companies will be ranked by their annual revenue growth rate between 2008 and 2010. The Top 50 companies at the 2010 Awards collectively grew their revenue base from €786m to an incredible €1,955m from 2007 to 2009, and winners included Vente-Privee.com, Bigpoint and Wonga.
MHP Communications will support the event with PR & media communications.
22nd March 2011 - GP Bullhound completes funding for Interactive Investor Plc
Posted On: 2011-03-22 06:22:44
GP Bullhound, the technology investment bank, today announces the completion of a funding round for London-based Interactive Investor Plc, the online retail stock broker and personal finance media company. The company offers individuals information and technology to manage their own investments through two channels; online, through Interactive Investor (www.iii.co.uk) and Shareprice.co.uk and offline, through the financial magazines Moneywise and Money Observer. With 1.5m unique visitors a month and one of the most active investor communities globally, the company is the leading independent personal finance business in the UK.
This is the second deal GP Bullhound has completed for Interactive Investor and involved investment from MMC Ventures and GP Bullhound Sidecar. Interactive Investor’s Founder and CEO, Tomas Carruthers, commented:
“We have worked closely with GP Bullhound over the last few years as our business has grown and our need for capital has evolved. They have a true understanding of the internet and personal finance sector, helped in no small part by their team and office in San Francisco. In our experience, they have a network of financial and strategic contacts which is first class.”
Interactive Investor represents the completion of GP Bullhound’s eleventh transaction in the Internet sector in the past twelve months, including King.com (UK), Starlounge (Sweden), Avito.ru (Russia), Euroffice (UK), Private Outlet (France) and Figleaves (UK) and further underlines the Firm’s leadership position in the Digital Media sector.
8th March 2011 - King.com, GP Bullhound advises certain shareholders on a secondary sale
Posted On: 2011-03-08 08:05:29
GP Bullhound, the technology investment bank, has acted as the sole financial advisor to certain shareholders on the sale of their equity stakes in King,com. GP Bullhound worked closely with the selling shareholders and the company to articulate the key value drivers for the business and emphasise King.com’s leading market position.
King.com (registered as Midasplayer International Holding Company Ltd) is the leading global online skill-based gaming company with over 25 million unique monthly visitors across 50 countries. The company offers more than 200 different games in categories including puzzle, strategy, word, action, board, Sudoku, cards and sports games. King.com’s popular licensed titles include Bejeweled 2, Cake Mania 2, UNO and Zuma. The company’s partner network includes 100 of the largest online domains worldwide including Yahoo!, MSN, NBC, CBS, Jeux.fr and Zylom.
Toby Rowland, co-founder of King.com and one of the selling shareholders comments: “GP Bullhound has delivered exceptional advice throughout this process – the team ran a focused yet highly competitive process by leveraging its deep sector knowledge of the Games space, saving management significant time and resources to focus on the business.”
King.com ultimately led the purchase of the shares from the sellers. This represents the completion of GP Bullhound’s twelfth transaction in the Internet sector since 2009 and further underlines its leadership position in the global Games sector.
1st March 2011 - CEBIT Sounds - Hugh Campbell to give keynote address
Posted On: 2011-02-25 04:30:19
Hugh Campbell has been invited by CEBIT to keynote CeBIT sounds! This is a music business conference that takes place on 1 March 2011 as part of the broader technology show in Hannover, Germany. The event is sponsored by the BVMI (the German music industry association) as well as BVDW (the German digital business association).
Following the keynote, Hugh Campbell will participate in a panel chaired by Lukas Schneider, Consultant - music business strategy alongside the following people:
• Thorsten Schliesche, Napster
• Joachim Franz, Head of Musicload
• Tobias Schiwek, Founder of Simfy
• Rainer Henze, Founder of Laut.fm
• Conrad Fritzsch, TapeTV
• Dr. Till Evert, CELAS (GEMA)
• Dr. Florian Drücke, BVMI
25th February 2011 - London Business School’s "Technology and Media Summit 2011" - Hugh Campbell participates
Posted On: 2011-02-23 12:32:21
Hugh Campbell has been invited by the London Business School to be a speaker on the E-readers Panel on 25 February 2011. He will speak alongside Tom Hall, Group Business Development Manager at Pearson Plc, Andy Ritchie, Operations Director at London Evening Standard, and Paul Zwillenberg, Partner Managing Director, and co-head of the Media practice, at The Boston Consulting Group. The panel will be moderated by Charles Ross, Director at Ocean Strategy.
This invitation comes on the back of a research report published by GP Bullhound on the digital publishing sector entitled “Don’t judge an ebook by its cover.” This research is available from our website.
GP Bullhound has done numerous deals in the digital content sector and is watching with interest the path that the publishers will take in the books space following the challenges that have been felt by the music publishers.
25th March 2011 - GP Bullhound's Andre Shortell joins "Smart Green Utility of the Future" panel at ECO11
Posted On: 2011-02-21 11:27:07
Ecosummit 2011 (ECO11) takes place on 24-25 March 2011 in Berlin.
25/03/2011
12:20 – 13:00 Panel – Building the Smart Green Utililty of the Future
Moderator: Jan Michael Hess (Mobile Economy)
Dr. Joerg Fabri (Kienbaum Management Consultants), Rolf Adam (Cisco),
Andre Shortell (GP Bullhound),
The panel will discuss how the utility of the future looks like, who the innovative winners will be, incumbents or new entrants, what customers want and how we can make utilities go smart and green.
Who is going to be the Apple, Google and Facebook of the energy market?
The utility of the future should be smart and green, selling to smart green customers, living and working in smart green homes, offices and buildings. But how do we get there and who will lead the market?
18th February 2011 - GP Bullhound hosts Breakfast Roundtable - Technology Predictions 2011
Posted On: 2011-02-01 09:45:09
With the release of our latest research report, Technology Predictions 2011, we are hosting a Breakfast Roundtable presentation of the top 10 trends that we are seeing in the technology market for 2011. The roundtable will be kicked off by GP Bullhound representatives presenting our key predictions, followed by an open panel discussion on the prevailing trends for the forthcoming year.
Top Trends for 2011:
- Google’s Android distancing Apple’s iOS
- Mobile payments set to surge in 2011 – get ready for the race
- Social shopping, dating and gambling applications will thrive on mobile
- Augmented reality applications take-off, driven by a location based services footprint
- Mobile and smart grid applications open the digital home
- Privacy becomes a priority for social network users
- Thin film makes a comeback and VCs start to exit to strategics in droves
- Gaming moves into the cloud
- Short messaging format will gain wider support and momentum
- A new generation of business intelligence and data analytics consumer apps will emerge.
16th February 2011 - Smart Grid Forum hosted in London by Bird & Bird and investment bank GP Bullhound
Posted On: 2011-01-25 05:19:40
Bird & Bird's Energy and Utilities Sector Group and GP Bullhound host the second seminar in Bird & Bird's series on CleanTech and Renewables.
Faced with increasing energy demands, carbon reduction targets and the advent of new low carbon, but intermittent energy sources, the world finds its old energy networks in need of modernisation. The grid of the future needs to not only carry energy but also (or: more importantly) information if it is to cope with these seemingly contradictory challenges. This raises all sorts of questions about how smart grids are best achieved, at what cost and, equally, how the wider energy community (including users) can benefit most from the advances the smart grid brings.
Within the framework of a series of panel discussions, preceded in each case by a short presentation, we will examine:
• Challenges and opportunities in making the smart grid a reality;
• How much Investment / Capex will really be needed and where; and
• Who are the emerging players in Europe and what do they have to learn from their peers in the US?
This 'by invitation only' interactive forum brings together key industry players from the worlds of communications, IT, technology, energy and Venture Capital and Private Equity with a view to sharing their unique insight into the opportunities and threats that are emerging as technology is developed to reshape the world of power.
A selection of the speakers and panellists include GE, SSE, SmartReach, Power Plus Communications, Onzo, PassivSystems, Elster, Climate Change Capital, WHEB Partners, TSystems, Novus Modus and Yellow&Blue.
12th January 2011 - Research Breakfast roundtable session on the recently published report: No Holds Barred in the Digital Music Battleground
Posted On: 2011-01-12 10:51:29
Today, GP Bullhound hosted a well-attended breakfast roundtable session where there were presentations by Steve Purdham (CEO, we7), Albin Serviant (CEO, mxp4) and Francis Keeling (VP Digital, Universal Music).
Key outcomes included:
• Music is consumed through Radio by the mass population – with advertising dollars following
• The link between music and social gaming will come to play in the future
• Piracy is still a very real problem
• The labels are happy to support entrepreneurs and are ultimately looking for digital music services to succeed – part of their core strategy
• Labels want VC money spent on marketing services and not all on rights
• Music is not a freemium model, innovation in the successful monetisation has still to take place
14th Janurary 2011 - Hugh Campbell judges at Qualcomm’s European QPrize Semi-Finals
Posted On: 2011-01-04 08:01:44
Hugh Campbell has been invited by Qualcomm to judge "QPrize™", an international competition designed to launch great ideas from entrepreneurs who strive to bring technology innovation to market. Qualcomm Ventures is awarding $750,000 in seed capital via a series of six regional business plan competitions and one grand-final competition. Eight finalists will be selected in each region and the winner given the opportunity to receive $100,000 in convertible note funding plus an opportunity to compete for an additional $150,000 in our Grand Prize Competition.
17th December 2010 - GP Bullhound publishes new research report: "No Holds Barred in the Digital Music Battleground"
Posted On: 2010-12-17 04:57:07
There are now around 12 million songs available from over 400 legal music services globally – a fundamental shift from the days of illegal music consumption through pirate services. The industry is transforming, and new and innovative business models are appearing, some with the backing of the labels, who ultimately look to find a legitimate way to sell their music digitally to the end user.
Music is increasingly being fed into our lives through an array of digital channels. But how do we really want to consume this media going forward? More importantly, what model makes the most sense? GP Bullhound’s latest sector research report explores the online music landscape highlighting the key current trends.
A research breakfast will be arranged in London in January to discuss the space further where a number of CEO’s will be invited to present.
9th December 2010 - GP Bullhound wins 'Boutique Investment Bank of the Year' & 'Green Energy Deal of the Year' awards at Atlas M&A Awards 2010
Posted On: 2010-12-09 08:53:01
GP Bullhound wins two awards at the prestigious M&A Atlas Awards held in London last night 8th December, the ‘Boutique Investment Bank of the Year Award’ and the ‘Green Energy Deal of the Year Award’.
7th December 2010 - GP Bullhound advises Starlounge on the sale of a minority stake to Turner Broadcasting System Europe
Posted On: 2010-12-07 05:25:00
GP Bullhound, the technology investment bank with offices in London and San Francisco, has acted as the exclusive financial advisor to Starlounge International AB on its sale of a strategic stake to Turner Broadcasting System Europe Limited, a subsidiary of Time Warner Inc and home to brands including Cartoon Network, TNT, TCM, and CNN. Hans Becker, CEO and Co-founder of Starlounge told Swedish Newspaper Dagens Industri (06/12/2010) “...through Turner we will get an improved financial strength for new developments and a greater selling power”.
Starlounge is Europe’s #1 destination for online celebrity news and content with over 16 million unique visitors across 14 countries. Starlounge also firmly holds the #2 spot globally for celebrity news, behind Yahoo’s OMG! offering. Over the past four years, Starlounge content has become an integral part of MSN’s European entertainment offering, with Starlounge being responsible for driving over 70% of the traffic to their co-branded sites. The Company takes a “Glocal” approach to content, mixing together the most relevant global and local stories for each target country, with a mix of fresh and relevant images to back up each story.
Hans Becker, CEO and Co-founder of Starlounge comments: “GP Bullhound has been instrumental in the process of bringing in Turner as a strategic partner to Starlounge. The advice and hard work by the GP Bullhound team has made this fantastic deal possible.”
This represents the completion of GP Bullhound’s eleventh transaction in the Internet sector since 2009 and further underlines its leadership position in representing the European Digital Media sector.
6th December 2010 – Turner buys Starlounge – www.di.se
Posted On: 2010-12-06 09:09:49
Turner Broadcasting, som äger CNN och Cartoon Network, blir största enskilda ägare i svenska Starlounge, som är Europas största sajt för kändisnyheter.
19th November 2010 - GP Bullhound - publishes new research report: “Is thin film staging a comeback?”
Posted On: 2010-11-19 08:01:57
With the exception of First Solar, the thin film sector has failed to live up to its promise despite heavy investment and much fanfare. We may however finally see a turn of fortunes in this sector with some companies beginning meaningful commercialization.
Success will depend mostly on individual companies’ ability to reduce costs, maintain access to capital and define and develop markets. With more than 150 firms in thin film, we predict massive consolidation driven by the entry of industrial players with their capital and manufacturing might. We also think VCs will need to realign their expectations as returns are likely to disappoint.
GP Bullhound’s latest sector research report explores future perspectives for the three main thin film technologies: Cadmium Telluride (CdTe), Copper Indium Gallium Selenide (CIGS) and Amorphous Silicon (a-Si).
18th November - GP Bullhound announces the Fastest Growing and Award Winning Cleantech Companies at Cleantech Connect 2010
Posted On: 2010-11-18 09:12:39
GP Bullhound announces the Fastest Growing and Award Winning Cleantech Companies at Cleantech Connect 2010
- List proves the resilience of Europe’s Cleantech sector as a whole.
- The top 25 companies have collectively grown their revenue base from €122m in 2007 to an impressive €290m in 2009.
- No single subsector dominates and this year’s companies have achieved astounding growth - a testament to the size and scope of opportunity within the Cleantech space.
Cleantech Connect 2010, organised by leading investment bank GP Bullhound with Schroders Private Banking as a premium sponsor, was held at Sketch in London's Mayfair last night. The 130 strong crowd represented the cream of both entrepreneurs and investors in the European cleantech sector. With the sector growing exponentially year on year, GP Bullhound is pleased to be a leading supporter of the innovative organisations in this field.
Some major names were present on the night, including Cleantech Connect 2010 Award winners, GreenRoad, Helveta, Cambridge Broadband Networks and PowerSense; and the US vehicle manufacturer Tesla Motors showcased their latest Tesla Roadster fuel efficient car.
Hugh Campbell, Partner at GP Bullhound, said, "Our 2010 event shows there is a real desire in the growing cleantech sector for organisations to be recognised by their peers and interested parties. Despite the general economic downturn, we had an excellent response to our CleanTech Connect 2010 Awards with some exceptional submissions. GP Bullhound is delighted to demonstrate its long term commitment to the cleantech sector through our annual CleanTech Connect Awards."
The winners of the Cleantech Connect 2010 Awards are:
• Fastest Growing Company: Ashwoods Automotive
• Fastest Growing Larger Company: Cambridge Broadband Networks
• Uniqueness of Offering: PowerSense
• Vision & Future Growth Potential: Helveta
• Best Management; GreenRoad
• Best Execution: GreenRoad
Key facts:
• Cleantech Connect companies grew their revenues from €122 million in 2007 to €290 million in 2009
• $23.9 billion was invested globally in the space by Q3 2009
• over one third of GP Bullhound's current mandates are in the Cleantech sector
- ends-
12th November - Per Roman speaks at SIME, Stockholm 17 November 2010
Posted On: 2010-11-12 13:19:01
Per Roman speaks at SIME Stockholm 17 November 2010 at 14.30.
The trends behind the trends – The digital future described by the ones who define it.
SIME has asked leading international and local journalists, leading bloggers, business leaders and scientists to share what they see in their crystal balls and let us in on the strongest trends and the catalysts behind the trends. The Market: Per Roman, founder and CEO GP Bullhound, Europe’s leading technology Corporate Finance house (UK) The Media: Pontus Schultz, Chairman of the SIME Awards Jury, leading journalist and media veteran, Bonnier AB (Sweden) The Technology: Pablos Holman, futurist, IT security expert, and a notorious hacker
Key Takeaways:
• mega trends
• buzz words
• the market of the future
• the new cool
12th November 2010 - SIME/Media Momentum Awards 2010 - 18 November, Stockholm, Sweden
Posted On: 2010-11-12 13:13:56
GP Bullhound has teamed up with SIME Stockholm, the Nordics’ largest event for the Internet Economy, and are for the first time hosting the awards ceremony – SIME/Media Momentum
SIME Media Momentum Awards present the 25 hottest and fastest growing Nordic companies within digital media. The list has been put together by a high profile judging panel comprising successful entrepreneurs, business leaders and venture capitalists.
From the top 25, the judging panel are voting on the five companies that will receive the following awards:
• Grand Prize
• Fastest Growing Company
• Best Global Potential
• Unique Leadership
• Most Innovative Company
The winners will be announced and presented at the SIME/Media Momentum awards at Cafe Opera on 18 November, in conjunction with the SIME Stockholm Event on 17 – 18 November.
Media Momentum is a league table and awards dinner for the fastest growing digital media companies in Europe. Created by GP Bullhound in 2004, it is successfully ran out of London on an annual basis in May. www.mediamomentum.co.uk
GP Bullhound’s activities at SIME:
Per Roman, co-founder and Partner of GP Bullhound will be looking into the Crystal Ball on 18 November from 14.30-15.00
GP Bullhound is hosting a workshop under the theme of ‘How to build for Exit’ on 18 November from 15.15-16.00.To join us, please email lina.einarsson@gpbullhound.com
SIME/Media Momentum Awards Gala is being held on 18 Nov from 19.30 onwards
SIME Stockholm is all about Inspiration, Knowledge, Business and Fun. Inspiration through the two day conference, 17 to 18 November between 09.00 and 15.00. Knowledge during the SIME Academy Workshops, 17 to 18 November between 15.00 and 19.00, where you choose into which detailed part the digital arena you want to dive deeper. Fun is delivered all over the line with the peak at the SIME Awards Gala Dinner at the end of day two, where we celebrate the Nordics’ finest.
Friends of GP Bullhound get a 30% discount. Contact Lina Einarsson if you are interested.
12th November 2010 - GP Bullhound complete $26m financing for Russian Internet Company Avito.ru
Posted On: 2010-11-12 06:38:40
GP Bullhound, the technology investment bank, today announces the completion of a $26m financing round for Avito.ru, Russia’s leading online classifieds site, with over 10m monthly uniques and 100k daily listings. GP Bullhound led a competitive pan European and US process resulting in several interested investors offering terms. The interested investors represented both strategic and financial parties looking to gain a foothold in the fast growing Russian Internet market. GP Bullhound guided the company through its evaluation of a variety of strategic alternatives and the eventual selection of Kinnevik and Northzone as their long-term partners.
Avito.ru’s Founder and Executive Director, Filip Engelbert, commented: “The GP Bullhound team ensured we met only with investors that had a real interest and experience of investing in Russia. This saved us considerable time and ultimately led to the best outcome for the company in all respects.”
This represents the completion of the tenth transaction in the e-commerce sector in the last twelve months, including Euroffice (UK), Private Outlet (France) and Figleaves (UK). GP Bullhound has firmly established itself as the leading advisor in the European digital media sector.
11th November - GP Bullhound hires three new Partners, strengthening Media / Internet and Cleantech practices
Posted On: 2010-11-11 05:05:21
Lord Clive Hollick is currently a director of ProSiebenSat.1, Honeywell International Inc, BMG Music Rights Management ag and senior director at Diageo plc. Previously, he was a partner at KKR where he headed the Media industry team in Europe, served as Chairman of SBS Broadcasting and a director of The Nielsen Company (formerly VNU Group). He was CEO of United Business Media, an international publishing, information, broadcasting and market research group. He began his career as an investment banker with Hambros and then built up a global money and securities broking business that subsequently became ICAP plc. He has also held positions as a director of Logica, Havas, TRW and BAe Systems and was Chairman of the South Bank Centre, Europe's largest arts centre. He founded the IPPR think-tank in 1986 and became a member of the House of Lords in 1991. He holds a B.A. and Doctorate from Nottingham University.
Prior to joining GP Bullhound, Andre Shortell was an independent adviser to companies and investment funds in the clean tech sector. Andre also spent 26 years in a number of senior roles in Citigroup including MNC Corporate Banking Head for CEEMEA, India Corporate Head, Global Autos Specialist and New Issues Head in London. He also ran Merchant Acquiring for Citibank and led the sale of that business in 2005. Andre brings to the team 10 years of involvement in renewable energy as well as experience in Corporate Finance, M&A and Emerging Markets. He also brings a broad international experience having spent much of his career in Europe and Asia as well as close personal ties to Brazil. Andre has a MA degree in International History from the London School of Economics.
Guillaume Bonneton was a senior banker at Jefferies in their European digital media practice and was previously part of the team at LongAcre, a corporate finance boutique acquired by Jefferies in 2007. Guillaume will focus on the digital media sector as he has done for the past 12 years, and brings expertise in Europe in areas such as online travel, digital marketing and lead generation. His previous deals include two rounds of fundraising for DailyMotion, the secondary LBO of Easyvogage by GIMV and UFG, and the sale of Kelkoo by Yahoo!. Prior to that, Guillaume was a Vice President at Deutsche Bank within the European Media Corporate Finance group.
10th November 2010 - GP Bullhound publishes new research report: "Behavioral Retargeting"
Posted On: 2010-11-10 07:37:40
US online advertisers are predicted to spend $1.1 billion on behavioral targeting advertising in 2010, a number that is forecast to grow to $2.6 billion by 2014.
Behavioral retargeting is becoming an important tool to improve conversation rates and profits for online retailers by lowering the cost of acquiring new customers. Behavioral advertising already accounts for about 5% of all online advertising spending in the US, and for 14% in display advertisement.
In the wake of the rise of behavioral retargeting, Real Time Bidding (RTB) has become a major force. Barely in existence 20 months ago the volume of ad space filled by RTB has grown to 100 billion, accounting for 20-30% of US online advertising value.
GP Bullhound’s latest sector research report explores how this new online advertising phenomena is rapidly gaining traction, shaking up the traditional advertising ecosystem and enabling significant new revenue streams to publishers and advertisers alike.
9th November 2010 - GP Bullhound advises Euroffice on its sale to Darwin Private Equity
Posted On: 2010-11-09 08:40:50
GP Bullhound, the technology investment bank with offices in London and San Francisco, has acted as the exclusive financial advisor to Euroffice Ltd on its sale of a majority stake to Darwin Private Equity.
Euroffice is the UK’s leading online office supplies company serving the SME market. With an internet-only business model, Euroffice is able to supply a range of over 27,000 products at highly competitive prices with next day delivery. The SME office supplies market is estimated to be more than £1 billion in the UK and the on-line channel is growing significantly faster than the wider market. In 2009 Euroffice began its international expansion with a successful launch into the Italian market. The company now employs 49 people in London and Milan.
Darwin is backing the existing management team, led by CEO Simon Drakeford. Euroffice’s Founder George Karibian will remain with the business as Non-Executive Chairman.
This represents the completion of GP Bullhound’s tenth transaction in the Internet sector since 2009 and further underlines its leadership position in representing the elite of the European Digital Media sector.
Diana Saraceni, General Partner of 360 Capital Partners commented: “I'm pleased to see that, despite the tough climate for eCommerce at the time we backed the company, Euroffice turned out to be a very good investment. I have to be thankful to its management to have built such a sizeable and profitable business and to GP Bullhound's knowledge of the ecommerce sector that have ensured brilliant execution of the exit process”.
21st October 2010 - GP Bullhound publishes new research report: "The Era of The Touch Interface is Upon us"
Posted On: 2010-10-21 13:29:27
Touch screens are experiencing a boom as they are being used in ever larger numbers of applications. This is, however, only the beginning. With the expected strong growth of touch screen enabled consumer electronic devices such as e-readers, tablet computers and smartphones the proliferation of touch screen user interfaces will grow. On the back of this growth touch screen user interfaces will spread to a wider variety of devices and become entrenched as an intuitive user interface. Our research details some of the key features of the industry, the various touch screen technologies and looks at the main areas of touch screen user interface growth.
30th September - Playfish named Exit of the Year - www.mandadeals.co.uk
Posted On: 2010-09-30 07:02:48
Playfish named Exit of the Year
Social gaming website Playfish won the Exit of the Year award at this year's eighth annual Investor AllStars ceremony.
Ben Holmes, a partner at Index Ventures, collected the award for his involvement in the $400 million (£255 million) sale of Playfish last November.
Holmes also picked up the prize for Venture Capital Personality of the Year. The judges described him as 'a very active investor with a formidable reputation amongst other co-investors'.
Other winners at the awards, held at London’s Park Lane Hilton and organised by investment banking firm GP Bullhound and Business XL publisher Vitesse Media, included Paris-based Sofinnova, for Venture Capital Fund of the Year, and Michael Elias of Kennet Partners, who bagged the Outstanding Contribution award.
Manish Madhvani, co-founder of GP Bullhound and chairman of the judging panel, said, 'The past couple of years have been incredibly testing for the industry as a whole. However if you look deeper than all the negative headlines written about the industry, there are some very promising signals from new and old players.'
Vitesse Media's executive chair Sara Williams comments, 'These awards recognise the investors who are driving innovation and entrepreneurship, working hard to create the blue chips of tomorrow.'
24th September 2010 - Spotify Award - by Emiko Terazono, the FT
Posted On: 2010-09-24 06:55:22
Spotify award
By Emiko Terazono
Europe’s venture capital community descended on the Park Lane Hilton for the Investor Allstars awards for the industry.
Kristian Segerstrale, chief executive and co-founder of Playfish, which was bought by Electronic Arts for $400m last year, gave the keynote speech and Jon Moulton presented his “triumph over adversity” award to executives at IT group Morse.
Index Ventures’ Ben Holmes won the VC personality of the year, and Spotify, the popular online music service, won the deal of the year. Pär Jörgen Pärson of Northzone Ventures, an early investor in the music group, collected the award for the $50m fundraising last year, including investment from the charitable foundation of Hong Kong’s Li Ka-shing.
Spotify, led by Daniel Ek, has won various plaudits, but the big question is whether the service can actually make money, as currently its losses far outstrip revenues from ads and subscription.
24th September 2010 - GP Bullhound and Vitesse Media announce winners of Investor AllStars 2010 Awards
Posted On: 2010-09-24 06:49:19
GP Bullhound and Vitesse Media announce winners of Investor AllStars 2010 Awards
• European venture capital industry in robust health despite all negative publicity
• Increasing number of exits and new players demonstrate strength of market
London – 24 September 2010 – Last night Investor AllStars 2010 announced the awards winners, demonstrating that the VC industry is showing admirable resilience despite the current market conditions.
Winners in the twelve categories (listed below) were revealed at the awards ceremony and dinner which took place at the Park Lane Hilton, London.
As well as celebrating the achievements of the winners themselves, the awards also marked what has been a bountiful year for European venture capital in light of the prevailing economic conditions.
A recurring theme throughout the night was the industry's increased strength and vigour as investors continue to back managers in creating European companies of scale.
In the past year, the industry has seen an increase in the number of not only exits, but also new players coming to market. The sale of the nine companies nominated for the Exit of the Year Award, for example, returned nearly €2bn to investors. Additionally, the shortlisted companies for the Equity Gap Fund of the Year Award closed 122 deals over the year.
• Ben Holmes at Index Ventures won the VC Personality of the Year Award.
• Morse won the Jon Moulton's Triumph over Adversity Award.
• The Outstanding Contribution of the Year Award was presented to Michael Elias at Kennet.
• Accel Partners/Index Ventures won the Exit of the Year Award for Playfish.
A full list of winners with comments is set out below.
Nearly 500 of Europe’s leading entrepreneurs, venture capital professionals and investors attended the awards ceremony sponsored by Ansarada, Better Capital, Bird & Bird, Doughty Hanson & Co, Foresight Group, Imperial Innovations, Marriott Harrison, MTI, Penrose Financial, Private Equity Recruitment, Schroders Private Banking and SVB Financial Group.
Media partners include White Bull and Millnet.
The compere for the evening was BBC presenter Katie Derham, and the keynote speaker and principal guest was Kristian Segerstråle, Co-Founder & CEO of Playfish.
The event, now in its eighth year, was organised jointly by GP Bullhound, the research-centric investment bank specialising in technology, media and telecommunications, and Vitesse Media, the multi-platform media business that specialises in growth businesses and entrepreneurs.
Manish Madhvani, Co-Founder of GP Bullhound and Chairman of the Judging Panel, said: "The Investor AllStars Awards exist to identify excellence, and I would like to congratulate all of the winners and nominees. The past couple of years have been incredibly testing for the industry as a whole, however if you look deeper than all the negative headlines written about the industry there are some very promising signals from new and old players. The most talented proponents really come to the forefront during times of economic uncertainty and market volatility. The good news for investors is that the cash piles sitting on the balance sheets of the large technology and media groups combined with low interest rates will lead to a strong increase in M&A activity."
Sara Williams Executive Chairman of Vitesse Media said: "The venture capital industry in Europe has been through a hard time during the past couple of years, but we should be proud of the great companies that have been launched through the combined ambition of VCs and entrepreneurs. Venture capital actively continues to make an invaluable contribution to the UK and European economy, despite lingering economic difficulties and the threat of increased regulation. These awards recognise the investors who are driving innovation and entrepreneurship, working hard to create the blue chips of tomorrow. "
The complete list of award winners for 2010 is:
• Venture Capital Fund of the Year: Sofinnova
”Sofinnova won the day due to four stellar exits totalling well over €1.5 billion in value. Its recent fundraising in difficult circumstances and the quality of its team make it the stand out fund of 2010.”
• Deal Envy of the Year: Spotify – Wellington Partners & Northzone Ventures
”Whilst Spotify was on last year’s shortlist, the company’s rapid subscriber uptake, scaling of revenues and transformational effect on the music industry made it impossible to select anyone else this year.”
• Outstanding Contribution of the Year: Michael Elias, Kennet Partners
”Michael has been a key figure in the rapid growth of technology-focused private equity in Europe. He has also been a driving force behind the rise to prominence of the European Venture Capital Association, a pioneer of capital-efficient technology investment and is now one of the best known figures in the industry.”
• VC Personality of the Year: Ben Holmes, Index Ventures
”Ben has been a very active investor with a formidable reputation amongst other co-investors. He also found the Playfish deal.”
• Cleantech Investor of the Year: Imperial Innovations
”They have had a high number of quality investments to date which has been recognised by the industry.”
• Buyout/Development Capital Fund of the Year: TA Associates
”TA Associates was the stand-out investor this year due to its high level of activity, two strong exits worth over $1 billion and its impressive work in forging links with the venture community across Europe.”
• Equity Gap Fund of the Year: MTI - UMIP Premier Fund
”The structure is innovative and it is the largest fund of its type in Europe, closing eight investments.”
• VCT of the Year: Foresight Group
”Foresight Group demonstrated impressive fundraising and development of unique sector competence."
• Private Investor Network of the Year: Beer & Partners
"Beer & Partners has an outstanding level of deal activity and strong exit activity."
• Service Provider of the Year: PER - Private Equity Recruitment Limited
”They have consistently delivered a high quality service to the VC community.”
• Exit of the Year: Playfish - Accel Partners & Index Ventures
”Playfish, last year’s deal envy winner, delivered an unrivalled return to its investors. The $400 million sale to EA and the returns generated rank alongside some of the best exits ever achieved in Europe.”
• Jon Moulton's Triumph Over Adversity Award: Morse
”A string of acquisitions over the past decade pulled Morse too far away from its core market, and it came close to breaking banking covenants. A change of management and a thorough shake-up brought it back to profit, and it was recently acquired by 2e2 for £70 million.”
This was the third year that nominations for awards have been open to members of the venture capital community in Continental Europe. Investor Allstars 2010 demonstrated the industry is successfully weathering the storm and that there are promising signs within the exit and IPO markets as investors continue to back portfolio companies and create European companies of scale.
The judges for the 2010 awards were:
• Manish Madhvani, Partner & Co-founder, GP Bullhound
• George Coelho, Managing Director, Good Energies
• Antoine Colboc, Head of Venture Capital, Crédit Agricole Private Equity
• Dr David Holbrook, General Partner, MTI
• Marc Barber, Managing Editor, Business XL
• Richard Brass, Director, Schroders Private Banking
• Ben Holmes, Partner, Index Ventures
• Wol Kolade, Managing Partner, ISIS Equity Partners
• Gail McManus, Founder, Private Equity Recruitment
• Pär-Jörgen Pärson, General Partner, Northzone Ventures
• Michael Schad, Principal, Coller Capital
23rd September 2010 - Per Roman joins the high profile judging panel at Bizspark European Summit
Posted On: 2010-09-23 06:49:41
This 1-day event will feature a keynote from Loic Le Meur, Founder of Seesmic and the LeWeb Conference, a startup pitch competition and workshops focused on building business in the Cloud, building your brand online and funding advice for entrepreneurs. Entrepreneurs can hear from their peers in the panel discussions focused on the challenges of growing businesses and more.
Catch the live stream, courtesy of Bambuser, of the UK BizSpark Summit here starting on September 23rd at 09:15 GMT.
21st September 2010 - GP Bullhound advises online private sales specialist of brand clothing and accessories, Private Outlet, on its €9m financing
Posted On: 2010-09-22 11:10:59
GP Bullhound, the leading technology investment bank, today announces the completion of a €9m financing round for Private Outlet SAS, an online private sales specialist of brand clothing and accessories. The investment was led by Gimv, Belgian private equity and venture capital provider, together with Turenne Capital, Paris based private equity and venture capital firm. Existing investor BayTech Venture Capital, the German venture capital firm, also participated in the round.
Private Outlet’s CEO and founder, Cyril Andrino, commented:
"I have had a long term relationship with GP Bullhound and this is the third transaction they have advised Private Outlet on. They have unique insight in to the sector and access to the decision makers who matter in the industry. I would recommend them highly to any ambitious entrepreneur."
Private Outlet is headquartered in La Plaine Saint Denis near Paris (France) and was launched in 2007 by the Andrino-group. This group is one of the leading French wholesalers in clothing and accessories. When it established Private Outlet, it could already show thirty years of experience in buying up surplus stocks from top brands and reselling them at discount prices to special retailers across Europe. Private Outlet’s team of stylists and buyers scour the globe with one objective: to find the brands and products that will be exactly what their members are looking for, and offer them in a high quality and secure online purchase environment. With its double expertise in both online and offline sales, the group proves to be a flexible partner for brands looking for a specialist international distribution channel.
Today, the group employs about 105 full time employees and works with over 150 prominent designer clothing brands. Moreover, Private Outlet already counts more than 1.8 million active members, which demonstrates triple digit annual growth since 2007.
This deal represents the completion of GP Bullhound's seventh transaction in the e-commerce sector in recent times.
21st September 2010 - GP Bullhound at White Bull Summits; Tech market enters merger frenzy - www.techeye.net
Per Roman and Manish Madhvani, co-founders of GP Bullhound, kicked off the White Bull conference here in Sitges and said things are looking rosy on the merger and acquisition (M&A) front.
Per Roman said: "There's some silver lining for us in Europe, with the exception of the PIGS countries. Northern Europe is looking increasingly stable and we can see a huge GDP growth in the second quarter with a much stronger recovery in Germany and Sweden. Long term interest rates reflect a lot of uncertainty. One of the reasons why there is so much uncertainty is there's a real concern levels that debt is so high.
He said: "The good news we're seeing factored into prices and the technology sector is outperforming. We're now really a hot sector. I look for the day when gold stops rising. Every 10 years our industry destroys itself." The new kids on the block are Apple, ARM and Google, while Nokia, Intel and Microsoft are flat. "The best bet now is shorting the top three and longing the bottom three. The unloved are truly unloved."
Some IPOs have been pulled, said Roman. "The reality is it's still quite an uncertain IPO market." Europe needs the IPO market to come back. There's a noticeable pickup in M&A activity.
Manish Madhvani said cash reserves are driving M&A activity. There's over three trillion stored up. Apple has over $40 billion, Google has been acquiring a company or two a month. "The good news for investors is that the cash piles are being transferred to cash offers." The other big trend is that more foreign companies are buying into the European market. The US is getting back to 2007 levels. If a US or Asian buyer bids, it increases the price range significantly.
Asian companies now account for three percent of foreign buyers and a lot of Asian companies are bidding. Most of the activity is happening at the digital content level - ecommerce accounts for 53 percent of M&A activity. Mobile accounts for nine percent, gaming for 26 percent. Everyone is trying to re-invent themselves. The web has gone from being a search function to a social function. Even Google is struggling in that area. Ecommerce is fuelling the M&A market.
Madhvani thinks that mobile will overtake the desktop by 2014 - it's not just the gorillas but tier two and three companies are also mapping their mobile strategies. The shift to cloud computing means people are diversifying their revenue streams. The traditional software companies are beefing up their strategies.
14th September 2010 - Manish Madhvani and Per Roman to deliver the opening presentation on the MandA market at the White Bull Summits in Barcelona
At White Bull, our aim is not simply to produce events. We are here to help companies succeed. Built upon the extensive knowledge and network of our founders and advisors, and in the spirit of the “wily beast” that we believe lives inside all successful businesses, we offer you a community, bringing together the best and the brightest – Europe’s top technology and media leaders, entrepreneurs, innovators, investors, and visionaries. White Bull will respond to the needs of the Technology, Media and Telecommunications (TMT) sector, while providing a forum for ongoing discussion.
At White Bull Summits, we’ll hear from industry leaders on what it’s like at the top, and from the new kids on the block about what’s current. We’ll exchange ideas, network, critique, get to know each other, and do business.
We have assembled a team of media experts, analysts, journalists, and seasoned executives to seek out companies on the cutting edge. We’ll connect them with each other, and with the resources to reach the next levels of success.
13th September 2010 - Microbus put on the block by private equity owner - the Independent
Microbus, a supplier of in-vehicle technology for the Metropolitan Police Service and black cabs, has been put up for sale by its private-equity owners for an estimated £30m.
RCapital this month appointed GP Bullhound, the investment bank, to run a potential sale of Microbus, which also provides its hardware and software to the coach operator National Express, and to Merseyside Police and other emergency services. RCapital and GP Bullhound declined to comment.
Industry sources said Microbus could be a target for technology companies, such as Siemens, Saab and Serco. They are likely to be attracted to the fact that police forces and other organisations in regions ranging from the Middle East to Australia have expressed an interest in using Microbus's technology.
The Microbus touch-screen computers allow the police, for example, to input and receive data to help them to respond more quickly and efficiently to incidents. Microbus also supplies vehicle-based police cameras which link the two applications together.
RCapital, which bought Microbus in 2006 for an undisclosed sum, is the latest private-equity firm to seek an exit from an investment made before the downturn. Office, the shoe chain owned by Sir Tom Hunter's West Coast Capital firm since 2003, appointed advisers over the summer to seek a potential £200m sale.
RCapital, which specialises in providing growth and turnaround funding, is arguably best-known for its investment in Little Chef, the roadside restaurant chain. The firm bought Little Chef out of administration in 2007 for £9m. Last year, RCapital hit the headlines when it brought in the celebrity chef Heston Blumenthal to revitalise Little Chef's menu and give the brand a boost.
The group this year launched a demountable tablet computer. This product is thought to be a world-first in terms of functioning inside or outside vehicles over the terrestrial trunked radio (Tetra) network.
Tetra is a proprietary wireless network and it helps the police and emergency services to communicate securely without their data being intercepted.
Microbus, which has been supplying technology for nearly 30 years, manufactures in the UK. It controls the intellectual property rights of the technology and the processes behind designing and building the products from the component level up.
More than 10,000 Microbus vehicle-based computers are used daily by emergency services around the world. It also supplies an additional several thousand units in UK black cab taxis, national bus fleets and specialist vehicle fleets.
27th August 2010 - GP Bullhound publishes new research report: "Augmented Reality: A Glimpse Beyond Reality"
Posted On: 2010-08-27 10:23:16
Until recently, mobile augmented reality application development has been hindered by handset-side limitations. Our research indicates that improvements in mobile hardware infrastructure will enable strong near term growth in the mobile augmented reality sector, particularly for games applications. This report provides an introduction into the sector, analyzes current trends and highlights a number of notable start-up companies.
8th August 2010 - GP Bullhound publishes new research report: "The Social Media Explosion: Monetising the New Word of Mouth"
Posted On: 2010-08-09 09:35:21
Social Media has exploded over the past few years, having grown from nothing into a multi-billion dollar industry with no signs of slowing down. As companies come to realise the benefits of social media as a way to connect with customers, new start-ups are endeavouring to find ways of monetising the sector. Our research details some of the key features of the industry, the emerging players and trends and the possibility of a brand new market in privacy and reputational management.
22nd July 2010 - Manish Madhvani Featured in M&A Deals
Posted On: 2010-07-22 09:29:34
Carrying the torch
There is no disguising the fact that dealmakers struggled to wrap up transactions in 2009, but there were entrepreneurs, advisers and investors who somehow made deals look easy. Chris McIntyre reports.
As other companies delisted from the Alternative Investment Market (AIM) last summer, Matt Riley, chief executive of telecommunications company Daisy Group, undertook a £204 million reverse takeover.
Since then, he has overseen ten acquisitions and defied the odds by arranging a three-year revolving credit facility of £75 million from three banks, each providing £25 million. ‘We raised the cash to carry on the acquisition spree,’ says Riley, whose mantra is that he wants to create a company in the mid-market, B2B telecoms space that can rival the might of BT. Given the scarcity of ambition shown during the past 12 months, it’s not so surprising that Riley picked up the gong for Dealmaker of the Year at the annual M&A Awards. ‘We’ve got the cash available so it’s a very good time for a company like us at the moment,’ he says. ‘When the markets are really quite frothy, that’s not always the best time to be buying; you want to acquire at the bottom of the cycle if you can.’
The Great and the good
More than 400 of the UK’s leading advisers, financiers and dealmakers congregated at the Millennium Mayfair Hotel in London’s Grosvenor Square to congratulate the individuals behind the companies and firms that triumphed in what was an otherwise barren year for deals. Jim Smith is now managing director at Bloomsbury Professional, but he picked up the award for Small Deal of the Year for the £10 million sale of Tottel to the publishing giant last July. ‘It was an incredibly clean deal – pretty much blemish-free,’ he says. A publisher of academic titles, Tottel was initially acquired from LexisNexis in a management buy-out backed by Matrix Private Equity Partners six years ago. When the offer from Bloomsbury finally arrived, it was too good to refuse. ‘There were a number of reasons for exiting the business; not least so the shareholders could realise some of the value,’ Smith remarks. ‘We also accepted that our main clients, law and tax professionals, were very much going online and we would have needed another tranche of investment to fund the development of an online platform.’
The simplicity of Tottel’s sale stands in stark contrast to the cross-border deal for the household disposables concern CeDo, which private equity firm Rutland Partners bought from German investor Delton for £52 million. The financing package that was put in place spanned the UK, Germany and France, entailing an asset-based lending (ABL) component and a separate mezzanine fund.
CeDo’s revenue at the time of the deal was £185 million. Ben Slatter, a partner at Rutland, says the combination of ABL with mezzanine finance is an unusual one, and was particularly eyebrow-raising given the climate at the time. ‘July 2009 was close to the nadir of the banking crisis so it was impressive to get that sort of financing structure.’
Rutland made its initial approach to Delton in 2008. ‘As a firm, we look for businesses that need strategic change and have underperformed,’ says Slatter. ‘Any business, regardless of the sector, can be of interest provided we think we can add value by helping the management to improve the underlying business.’
For David Holbrook, a partner at technology investor MTI, its standout deal – the sale of bone repair company ApaTech to US healthcare group Baxter International – was anything but opportunistic. ‘I first came across the idea for ApaTech at the tail-end of 2003 by way of Simon Cartmell. He was the guy who was trying to raise money at that time and I’d been a colleague with him at GlaxoWellcome [now part of GlaxoSmithKline]. So I knew him very well, his reputation and capabilities.’
Along with the private equity giant 3i, MTI injected a first round of funding into what was then a profitless entity dreamed up at Queen Mary, University of London. ‘The market that it addresses is the need to fill holes in bone, particularly in spinal surgery where there may be crushed vertebrae. There is a huge market for this in the US.’
The challenge, as with any spin-out, was to develop the idea into a feasible, money-making reality. ‘Once we had established deals in the US early on, we had to build up our manufacturing capacity so that we could satisfy demand,’ states Holbrook, who is fulsome in his praise when speaking about Cartmell. ‘It was a wonderful job to enact a business plan that brought great sales and growth to the company so that it became a compelling acquisition for an international player like Baxter.'
Over a six-year period, the company went from nominal sales to generating £40 million a year and it was highly profitable. Baxter paid $330 million (£220 million) for ApaTech in March, which saw it take home the award for Large Deal of the Year.
In rude health
Holbrook argues that the healthcare sector continues to be one of the more durable areas for deals: ‘The market for acquisitions by corporates of med-tech companies is ongoing. Big medical concerns tend to grow by acquisition rather than through innovation. They’ve got lots of cash so the healthcare environment is strong despite the economic doldrums that we all face.’ Manish Madhvani, a partner at investment bank GP Bullhound, sees similar trends among high-tech companies. ‘The sector is definitely picking up. The M&A market in our industry is being driven by the fact that many of the technology companies have large cash balances and are usually very profitable, but they’re not attracting good interest rates on that cash. As a result, they are looking for unique ways to deploy that capital by moving into new, strategic areas.’
One such deal came in the cleantech sector through the sale of Concentrix Solar to French semiconductor manufacturer Soitec. GP Bullhound, winner of Corporate Finance Boutique of the Year, worked on the deal, which Madhvani describes as a ‘perfect storm’. He explains that the core business of Soitec was losing momentum and the company needed to pull off a transformational acquisition, using its expertise and manufacturing capacity in the burgeoning solar technology sector.
‘They had the opportunity to enter a market that was growing rapidly as opposed to having a core market going steadily into decline,’ he says, adding that the deal was a spectacular piece of business for the vendors. Set up in 2005, the company was sold for €55 million (£50 million) when it was delivering sales of just €4 million.
Sound advice
Among the professional services firms to find some cheer amid the year’s thumb-twiddling gloom for the bulk of advisers was Travers Smith, which won Law Firm of the Year. With 70 partners split between offices in London and Paris, the firm continued to work on many of the notable transactions completed during the past year, such as the $104 million sale of MX Telecom to US company Amdocs, and the management buy-out of arts and crafts retailer HobbyCraft by private equity firm Bridgepoint.
Philip Sanderson, a partner at Travers Smith, claims that the firm has been involved in over a third of all mid-market deals in the first half of this year. ‘A lot of M&A is still done within the private equity space,’ he says. ‘We’ve looked at plenty of financial services and retail businesses, which I still expect to be one of the drivers of the recovery. We’re also trying to make sure that we can work as much as we can on international M&A. It’s very important in our market that we are doing global deals.’
Modesty is a virtue
The winners of this year’s awards are refreshingly reluctant to overstate their achievements, which echoes the general air of uncertainty from small business owners, investors, advisers and serial entrepreneurs about the current state of the economy. Sanderson, who notes that the firm is recruiting and very much on the front foot, admits, ‘It’s a market to be cautious about. While we had a fantastically successful year in terms of deals done, it’s quite difficult not to see an element of a purple patch in that activity’.
MTI’s Holbrook states that, although there are great investment opportunities arising, the problem for the investment community in the mid-market continues to be the relative lack of funds to deliver on attractive strategies. ‘The challenge for our industry is to get more money into the system,’ he comments.
Daisy’s Riley, who realised cash in the business when it reversed onto AIM, stands out as the one who wants to keep pushing for the summit. ‘Our major competitor is BT, which still has the lion’s share of the market with over 50 per cent. We’re not anywhere near them yet, but we’re trying.’
The company, it should be pointed out, is still loss-making and the scale of the task in hand is not to be underestimated. That said, there is pedigree on the board, such as executive chairman Peter Dubens. He created the 365 Media Group (sold to BSkyB) and Pipex Communications, which wisely sold off part of its broadband operations before evolving into the present business.
Last year, Daisy posted revenue of around £53 million and the expectation is for this to be around £300 million for this financial year. The hope is for further acquisitions to eventually push revenue up to £500 million. ‘That’s the number we’re aiming for because that then gives us real market scale,’ says Riley. ‘We’re heading in that direction and looking forward to achieving it.’
By next year we may find that Daisy is still leading the way as the UK’s most acquisitive business.
21st July 2010 - Cleantech Connect 2010 - Call for Entries!
Posted On: 2010-07-21 09:38:45
Cleantech Connect features the hottest and fastest growing Cleantech companies in Europe.
As a fast growing Cleantech company, entering Cleantech Connect provides an unrivalled opportunity to promote your firm to both the Cleantech and the financial communities. Cleantech Connect 2010 promises to be an event for CEOs within the industry to meet and share experiences of growing businesses in today's challenging economic environment.
Online entry is free and simple – just click here and fill in the online form. We are looking for companies with exceptional revenue growth from 2007 to 2009.
For the second year running GP Bullhound, with premium sponsors Schroders Private Banking and Choate Hall & Stewart LLP plus sponsors RUSTON wheb and NESTA, is publishing a list of the fastest growing European Cleantech companies. From this list the most outstanding companies are nominated to present to a high profile judging panel with members drawn from within the Cleantech industry.
The Top 50 will be announced at the Awards dinner at Sketch in London on 17 November 2010.
We look forward to receiving your entry!
21st June 2010 - GP Bullhound advises Figleaves.com on its sale to N Brown Group plc
Posted On: 2010-06-22 12:24:09
GP Bullhound, the technology investment bank with offices in London and San Francisco, has acted as the exclusive financial advisor to Figleaves.com on its £11.5m sale to N Brown Group plc [LSE: BWNG].
Figleaves.com offers its customers the largest range of lingerie and underwear with over 1000 brands available on its website. Over 1.2 million customers visit the website each month and the business delivers to over 100 countries.
The transaction brings an important partner for Figleaves; N Brown is recognised as one of Europe’s pre-eminent businesses in e-commerce and home shopping. The group had total revenues of £680m in the year to February 2010 with e-commerce revenues of £272m in the same period.
Commenting on the acquisition, N Brown’s Chief Executive Alan White said: “We are thrilled to welcome Figleaves to our portfolio of brands and are very excited about this acquisition which strengthens our position as the UK’s largest online retailer of lingerie. It also demonstrates our commitment to continue to expand the e-commerce proportion of our business and to extend our product offers and customer base.”
This deal represents the completion of GP Bullhound’s sixth transaction in the e-commerce sector in recent times and furthermore underlines the bank’s long-standing track record in M&A advice to Europe’s technology entrepreneurs.
8th June 2010 - GP Bullhound publishes new research report: "Supply Side Smart Grid Solutions Best Placed to Drive Economic Benefits Near to Mid-term"
Posted On: 2010-06-08 05:56:18
Smart meters and other demand side smart grid technologies have largely disappointed as consumers have proven inflexible in changing their consumption behaviour and adopting such new intelligent solutions. Our recent study of the smart grid sector suggests that supply side solutions, i.e. technologies that can help the energy producers and deliverers, have more value to offer in the short to mid terms. This report provides an insight into recent trends in the sector and highlights a number of start-up companies that are making good progress.
16th June 2010 - Per Roman speaks at SIME, Barcelona
Posted On: 2010-06-01 06:54:53
16-17th June, SIME Barcelona is hosted together with Barcelona Day of the Entrepreneur with 5 000 entrepreneurs, business leaders, investors and representatives of the press. SIME Barcelona is a day with the best of SIME followed by business matchmaking for companies interested in doing business in Spain and Barcelona as well as expert workshops with international speakers. SIME Barcelona is offered free and matchmaking and knowledge tracks are charged separately based on your needs.
Per’s engagement;
16th June at 10.35 - Inside the brain of a serial entrepreneur
José Marín, the founder of IG Expansion is an experienced business angel and venture capitalist who has worked with a wide range of successful companies in three continents, Jack Hidary (serial entrepreneur, investor, philantropist), Alexis Bonté (Erepublik), Per Roman (GP Bullhound), José Marín (IG Expansion).
Key takeaways:
- How entrepreneurs tick
- The inside stories of some of the coolest entrepreneurial journeys
21st May 2010 - GP Bullhound publishes new research report: "Wisdom From the Sage of Omaha"
Posted On: 2010-05-21 08:15:55
While Technology has always been anathema to the investment philosophy of Warren Buffett and Charlie Munger at Berkshire Hathaway, venture and technology investors alike can learn a lot from these investment rockstars. With that in mind, GP Bullhound attended this year’s Berkshire Annual meeting in Omaha to listen to the sage speak. The attached report summarizes some of the key snippets and quotes from our notes made on the day and contains some valuable lessons covering the topics of investing, life, business and the broader economic environment.
20th May 2010 - GP Bullhound wins Corporate Finance Boutique of the Year Award 2010
Posted On: 2010-05-20 22:56:02
GP Bullhound was awarded Corporate Finance Boutique of the Year 2010 at the prestigious M&A Awards which took place on Thursday 20 May. GP Bullhound is currently the number one ranked investment bank for Digital Media M&A in Europe, the firm closed eleven transactions during 2009, including two award winning deals within the CleanTech sector.
The annual M&A Awards, hosted by Vitesse Media, celebrate deal-making excellence in the mid-market. GP Bullhound was nominated alongside five other investment banks in the award category “M&A Corporate Finance Boutique of the Year 2010”.
The jury’s motivation read: “GP Bullhound has continued to grow the tech and digital media sector by delivering high quality practical advice to top venture capitalists. The firm has shown proof of punching above its weight. We are particularly impressed by the $80m Concentrix deal.”
Per Roman, Partner and Founder of GP Bullhound, said:
“We are delighted to have been awarded Corporate Finance Boutique of the Year. The award confirms that GP Bullhound’s industry knowledge, dedicated approach and love for entrepreneurship is paying off and that we add value as an advisor in the domains of Digital Media, Software and Services, CleanTech and Hardware.”
About GP Bullhound
GP Bullhound, Europe’s leading Investment Bank in Technology and Digital Media, has raised over USD 450 million in the last five years for growth technology companies. With offices in London and San Francisco, GP Bullhound plays a leading role in the local entrepreneurial community, venture market and corporate environment, giving expert advice within mergers & acquisitions and institutional capital fund raising. In 2009, GP Bullhound demonstrated growth for the sixth consecutive financial year. For more information, please visit www.gpbullhound.com
About M&A Awards
M&A Awards celebrate the achievements of management teams, advisers and financiers who, over the past 12 months, have surmounted extraordinary market conditions to demonstrate their deal making excellence. Previous winners include BDO Stoy Hayward, Lloyds TSB – Corporate Markets, Peter Cullum of insurance giant Towergate and NBGI Private Equity's Richard Morley. www.manda-awards.co.uk
26th May 2010 - Per Roman addresses keynote speech at Red Herring, Paris
Posted On: 2010-05-14 07:18:01
Red Herring, Paris 25-27th May at the Hotel Lutetia in Paris
“This year we are more eager than ever to see the talent and innovation these top 100 startup companies have to offer,” says Alex Vieux, CEO of Red Herring. “Each year, Red Herring Europe gains momentum and prestige making it the ultimate platform for startups from across the continent to be celebrated.”
An experienced group of Red Herring editorial judges will review each startup nomination. Nominees will be evaluated on both quantitative and qualitative criteria such as financial performance, technology innovation, quality of management, execution of strategy and integration into their ecosystem. The board rates hundreds of companies on multiple levels, and then selects 100 companies that are leading the next wave of innovation. Top technology industry executives, VC’s and experts have trusted the Red Herring 100 lists as critical indicators of the promising startups that will lead the next wave of disruption and innovation.
The Finalist for the Red Herring 100 award will be invited to present and showcase at the Red Herring Europe forum before an exclusive audience of C-level entrepreneurs, corporate strategists, and over 50 venture capital funds in addition to being featured in a special edition of Red Herring magazine. The event will also include keynote addresses and panel discussions lead by industry leaders and technology insiders.
Per will be part of a Key note session on;
Keynote Session: Where is the Exit?
It’s been a dismal downturn for IPOs of the past few years. But there are signs of change. The second quarter of 2009 saw 12 IPOs from U.S. companies, raising $1.6 billion, the first increase in IPO action since the fourth quarter of 2007. What makes now any different? For one, with the buyout boom gone bust, private equity-backed offerings are making a showing. Further, M&A deals are yielding lower valuations, making it less attractive yet at times the only avenue to liquidity. The players may have changed, but the game remains in play. What does the new deal landscape look like and what are the common characteristics of success.
Date and Time: May 26, 11:30 – 12:15
25th May 2010 - Per Roman joins panel at BizSpark European Summit 2010
Posted On: 2010-05-14 07:14:53
BizSpark European Summit 2010
Tuesday, May 25th, 2010
Microsoft Offices, Issy les Moulineaux, France
For the 6th year in a row and coinciding with the European SME Week, Microsoft will bring together key players involved in the next generation of technologies: investors, entrepreneurs, BizSpark Network Partners, Government policymakers, journalists and analysts during our Annual BizSpark European Summit. This is an opportunity to gather people who are building, supporting or funding innovative companies in Europe and discover hot new startups, selected by Microsoft and our local community of partners.
Per will be a judge of the panel judging the Startup Showcase.
13th May 2010 - GP Bullhound announces Media Momentum 2010 Winners
Posted On: 2010-05-13 05:52:18
GP Bullhound is pleased to announce the winners of the Media Momentum Awards 2010.
Designed to recognise Europe’s high growth digital media companies, the awards which are now in their sixth year, have gained significant market attention and are recognised as one of the key barometers of the European digital media sector.
The award entries this year were of an outstanding quality, with a more diverse range of digital businesses than ever. Particularly
showing strong growth and heavily featured on the 2010 list are ecommerce ventures and digital agencies.
The GP Bullhound Media Momentum 2010 Award Winners are:
Digital Media Personality: Neil Hutchinson, Forward Internet Group
Judges Award: vente-privee.com
Manish Madhvani, Partner at GP Bullhound said: “We had an excellent level of entries this year, in terms of volume and quality. The European digital media sector is really powering ahead, as demonstrated by our league of eminent entrants. I would like to extend thanks to all those who took part in the GP Bullhound Media Momentum Awards 2010 and made them a great success.”
The GP Bullhound Media Momentum Awards 2010 were sponsored by, Schroders Private Banking, Acton Capital Partners and law firm, Kemp Little. Grant Thornton is an award sponsor.
Those companies which were nominated for an award in the GP Bullhound Media Momentum Awards 2010 are:
Deezer
Bigpoint
Adconion Media Group
vente-privee.com
Betsson
Some great feedback and coverage has been received, see below for a quote from the big winner Xavier Court, vente-privee.com;
“Thanks again for this wonderful and very well organised event.
It was a pleasure spending the evening with you and the GP Bullhound team."
Some of the coverage online;
http://www.telegraph.co.uk/technology/news/7716569/Media-Momentum-Awards-2010.html
For more information, visit http://www.mediamomentum.co.uk.
14th April 2010 - GP Bullhound publishes new research report: : "Electric Vehicles and Batteries – Charging Ahead”
Posted On: 2010-04-14 16:20:16
Electric vehicles have been around before, at the turn of the last century and again during the 1990s. We are now beginning to witness a concerted effort on the part of governments, automotive and battery manufacturers to build a viable electric vehicle industry. Most of the major automotive manufactures have announced launches of electrically propelled vehicles recently including Renault-Nissan, GM, Toyota, Daimler, BMW and even Ferrari is launching a hybrid. Transportation accounts for 50% of oil demand today. It also accounts for 20% of global carbon emissions with the IEA anticipating this to double to 40% by 2050. There are several competing battery chemistries vying for the top spot in the electric vehicle landscape and lithium-ion is fast emerging as the long term winner. Its lightweight nature, higher energy and power density translate into smaller and lighter battery packs ideally suited to cars.
13th April 2010 - GP Bullhound transactions win both Deal of the Year and Runner Up at the Rosenblatt New Energy Awards
Posted On: 2010-04-13 10:14:59
Two of GP Bullhound’s recent Cleantech transactions were singled out at the 2010 Rosenblatt New Energy Awards. The awards recognise the achievements of management teams, companies, advisors and projects that have made a significant contribution to the Cleantech sector during the previous 12 months.
Concentrix Solar has been awarded the Rosenblatt New Energy Deal of the Year Award after it was sold to microelectronics specialist the Soitec Group for €55 million in December 2009. The jury’s motivation read: “Four years after being spun out of the Fraunhofer Institute, Concentrix Solar achieved what most companies in its sector can only dream of, and at a time of unprecedented turmoil in the M&A market. The sale was testament to its achievement in commercialising its concentrator photovoltaic modules, and is expected to boost Soitec’s revenues and profits for 2010 and beyond.”
Organic photovoltaic developer Heliatek was the runner up for the award, with the judges commenting “....following its successful fundraising in November 2009, when it secured $27m from investors led by Wellington Partners and including other high-powered backers and corporate partners such as Bosch and BASF Venture Capital. It was an impressive deal in a difficult climate, bringing in new as well as existing investors.”
GP Bullhound acted as the sole financial adviser to Concentrix on its sale to the Soitec Group, and acted as the sole financial adviser to Heliatek on its fundraising.
31st March 2010 - GP Bullhound publishes new research report: "Social Games: The Fastest Growing Segment of the Games Market”
Posted On: 2010-03-31 12:24:41
Within the last year, social games have exhibited explosive growth, cementing their place as an important and rapidly-growing sector within the $50B global games market. We estimate the global social gaming market to grow from $1 billion in 2009 to just over $3 billion in 2012, representing a CAGR of 45% over that time period. Given the relatively nascent stage of the social games sector, we expect significant improvements in game play and functionality as developers gain more experience on social media platforms and social game development budgets expand. We also expect to see a continuing flow of investment dollars into the sector as well as additional consolidation as the larger players look to cement their leadership positions and new entrants look to gain market share through acquisition. This report explores the current trends, key risks and the future outlook for the social games sector.
3rd March 2010 - GP Bullhound publishes new research report: "Don’t judge an eBook by its cover”
Posted On: 2010-03-03 08:18:10
The eBook market has seen a lot of activity in recent months, and in particular around the negotiations on eBook pricing between retailers (Amazon) and publishers (Macmillan). The digital books market finally has the potential to become mass market and the outlook for 2010 looks promising with the rapid growth of connected eReaders as well as eBook stores.
In this report we will take a look at the key trends in the industry with competition increasing amongst the players. The convergence between device, content production and distribution is creating opportunities as well as challenges analogous to the ones experienced by the music industry.
20th January 2010 - GP Bullhound advises leading developer and manufacturer of optics-based multi-touch kits and subsystems Flatfrog on its €12.5m financing
Posted On: 2010-01-20 04:54:20
GP Bullhound, the technology investment bank, today announces the completion of a €12.5m financing round for FlatFrog Laboratories AB, a leading developer and manufacturer of optics-based multi-touch kits and subsystems. The investment was co-led by Invus, an international equity investor, together with Promethean, a world leader in the rapidly growing global market for interactive learning technologies. Existing investor Sunstone Capital, the Danish Venture Capital firm, also participated in the round.
FlatFrog’s Executive Chairman and founder, Christer Fåhraeus, commented:
“We are delighted to have secured this important capital injection from Invus and Promethean, as well our current investor Sunstone Capital. Throughout the process I have been delighted by GP Bullhound’s skill at issue resolution and their commitment to driving all parties towards a successful closing."
Founded in 2007, FlatFrog is revolutionizing the touch industry by providing the industry’s first true multi-touch systems in a slim form factor. FlatFrog’s optics-based multi-touch subsystems offer unparalleled performance specifications for displays ranging from 5” to 100”. The company’s OEM and integrator customers incorporate FlatFrog technology into such products as multi-touch tabletops, digital signage and whiteboards, point-of-sale, gaming and medical displays, etc. FlatFrog is a privately held company headquartered in Lund, Sweden, just across the bridge from Copenhagen Airport.
14th January 2010 - GP Bullhound are proud to announce the launch of the 2010 Media Momentum Awards.
Posted On: 2010-01-14 07:06:41
The awards recognise Europe’s fastest growing and most innovative digital media companies. The event is considered a key calendar date for the industry.
The Top 50 companies in the 2009 list, collectively grew their revenue base from €380m to an incredible €1,103m in a three year period.
Manish Madhvani, Partner at GP Bullhound and Media Momentum judge, said: "The Media Momentum Awards and top 50 league table has over the past six years become the industry barometer for the digital sector, and has established a reputation for identifying the European stars of the digital media industry. The quality of last year’s entrants and attendees, meant the bar was set high for companies to make it into the top 50. It was great to see some ground breaking partnerships and deals announced off the back of last year’s event. The 2010 Awards are set to be the most exciting yet.”
Entrants must have a turnover of at least €1.5million in 2009 and be headquartered in Europe. The top 50 fastest growing companies will be ranked by their annual revenue growth rate between 2007-2009. Winners will be announced at the invitation only awards dinner at London's Sketch on 12th May 2010.
The 2010 Media Momentum Awards judging panel consists of leading digital figures such as Kristian Segerstråle Co-Founder & CEO of Playfish; Martha Lane-Fox, Co-founder of Lastminute.com and the British government’s Champion for Digital Inclusion; Anil Hansjee, Head of M&A Google Europe; Lars Hinrichs Founder & Managing Director of Xing; Seb Bishop, International CEO of RED; Steve Rosenblum, Founder & CEO of Pixmania; and Michael Nutley, Editor-in-Chief, NMA.
Previous winners and attendees include: Betfair, Netaporter, Spotify, Lovefilm, DailyMotion, Seatwave, MoneyBookers, Shazam and YouGov.
The Media Momentum 2010 Awards are supported by premium sponsors Schroders Private Banking, Acton Capital Partners and law firm, Kemp Little LLP.
About GP Bullhound
GP Bullhound, Europe’s leading Investment Bank in Technology and Digital Media, has during the period 2006-2008 successfully raised in excess of 250MUSD for growth companies. With offices in San Francisco and London, GP Bullhound takes an active part in the local entrepreneurial community, venture market and corporate environment, Thus giving expert advice within mergers & acquisition and institutional capital funding. In 2008 GP Bullhound demonstrated positive growth for the 5th consecutive financial year. For more information, please visit: www.gpbullhound.com
GP Bullhound Ltd is authorised and regulated by the Financial Services Authority and is registered in England No. 381 4857, registered office 52 Jermyn Street, London SW1Y 6LX.
11th December 2009 - GP Bullhound advises concentrating PV producer Concentrix Solar GmbH on its €55m sale to the Soitec Group (Euronext Paris)
Posted On: 2009-12-11 07:26:37
GP Bullhound, the technology investment bank with offices in London and San Francisco, has acted as the exclusive financial advisor to Concentrix on its sale to the Soitec Group.
Concentrix was founded in February 2005 as a spin-off company of the Fraunhofer Institute for Solar Energy Systems ISE. Employing 60 people, Concentrix Solar manufactures concentrator power plants for sunny locations. By means of Fresnel lenses, sunlight is focused onto small highly-efficient solar cells. These solar cells convert the sunlight, concentrated 500 times, directly into electrical energy. With this technology, system efficiencies of 25 percent are possible. These values are almost twice as high as those achieved by conventional silicon technology. As a result, cost reduction potential of between 10 and 20 percent can be reached, depending on the location of the installation.
“GP Bullhound impressed me both by taking ownership of the process, just as passionately as if it was their own company, and by the rigorous professionalism of their process. The guidance, help and assistance provided by GP Bullhound freed up essential management capacity, allowing all parties to excel in their respective tasks.”, commented Gianni Operto, Director at Good Energies and Chairman of Concentrix.
This deal represents the completion of GP Bullhound’s second cleantech transaction in as many months, and furthermore underlines the bank’s long-standing track record in pan European M&A advice to the technology sector.
The transaction values 100 percent of Concentrix at €55 million with an earn out option based on sales growth performance in 2010. The agreement also contains put-and-call option rights on the remaining 20 percent of Concentrix shares currently owned by the Fraunhofer Institute, Concentrix founders and senior management.
9th December 2009 - GP Bullhound publishes new research slide deck: “Gaming trends – December 2009”
Posted On: 2009-12-09 10:36:57
The gaming landscape is going through a period of dramatic change, with online and social gaming rapidly growing. New economic models are emerging while the traditional boxed product value chain is feeling immense pain. In development, bloated studio projects are being challenged by rapidly launched, ever-evolving, user-feedback created, multi-platform game environments. Electronic Arts recent acquisition of Playfish shows that great value can be created by those who adapt to this new environment.
27th November 2009 - GP Bullhound advises organic solar cell company Heliatek on its $27m financing
Posted On: 2009-11-27 06:30:14
GP Bullhound, the technology investment bank with offices in London and San Francisco, has acted as sole advisor to Heliatek GmbH, the Dresden based organic solar cell company.
Heliatek is engaged in the development and production of organic photovoltaic solar cells. The company is applying the extensive research and development work of its founders by leveraging organic materials to improve the cost-efficiency characteristics of solar cells. By utilizing vacuum technology, Heliatek is developing a new proprietary material that displays unprecedented power efficiency, transport and contact properties as well as extended life-time characteristics. In August 2009, the Fraunhofer Institute for Solar Energy Systems (ISE) certified a power conversion efficiency of 6.1% for a solar cell from Heliatek.
Dr. Andreas Rückemann, CEO of Heliatek, commented: “GP Bullhound provided the highest quality advice to us throughout a well run fundraising process. I wouldn’t hesitate to work with them again or recommend them to a third party.”
The funding was led by pan-European venture capital firm Wellington Partners. Additional investors in the round included the new investors RWE Innogy, SIB Innovations- und Beteiligungsgesellschaft mbH, eCAPITAL entrepreneurial Partners AG and GP Bullhound Sidecar together with the existing shareholders BASF Venture Capital, Robert Bosch GmbH and High-Tech Gründerfonds also participating.
This deal represents the completion of GP Bullhound’s second cleantech transaction as well as the eighth transaction this year and further underlines the bank’s long-standing successful track record in pan European venture capital private placements.
18th November 2009 - GP Bullhound advises Muzicall, the leading provider of ringback tone services
Posted On: 2009-11-18 06:06:59
GP Bullhound, the technology investment bank with offices in London and San Francisco, has acted as sole advisor to Muzicall Ltd the Gibraltar-based provider of ringback tone (RBT) services to mobile consumers on its US$13.5m expansion capital round of financing.
"We have benefited from GP Bullhound's broad reach amongst technology investors and as a result we now have investors from France, Iceland, Finland, the US and a family office from Gibraltar. I was delighted by the team's commitment to our deal and by their negotiating skills right up until the final minute," says Patrick Allainguillaume, CEO of Muzicall.
Muzicall provides outsourced, end to end RBT services to some of the leading operators in Europe, including Orange, Vodafone and T-Mobile. The funding will enable Muzicall to further implement its vision of making RBTs – usually a piece of music that replaces the ‘ring ring’ sound a caller hears before their phone call is answered – available to all European mobile phone users. Muzicall’s RBT.4.ALL platform enables customers to create their own content library, giving them the ability to assign a different tune for different callers, thereby creating a very rich and personalised experience.
The funding was provided by Orkos Capital, Veddis Ventures and GP Bullhound Sidecar together with the existing shareholders Bluerun Ventures and Thule Investments.
This deal represents the completion of GP Bullhound’s seventh transaction in this year and further underlines the bank’s long-standing successful track record in the mobile sector.
11th November Per Roman will be speaking at the Nordic Private Equity Congress which is being held at the Grand Hotel in Stockholm on 11th of November 2009.
Posted On: 2009-10-15 10:59:43
Additional information can be found at www.swca.se
11-12 Nov, SIME Stockholm, GP Bullhound Workshop “How to Plan Your Exit Strategy”, and Per Roman providing keynote on the main stage.
Posted On: 2009-10-15 10:58:06
14 Oct - 16 Oct 2009 - Per Roman, moderator at EVCA Venture Capital Forum in Berlin
Posted On: 2009-09-28 04:44:20
6 Oct – 9 Oct 2009 Per Roman is speaking at Etre in Paris
Posted On: 2009-09-28 04:42:23
24 September – Over 500 attended the 7th annual Investor Allstars in London last night
Posted On: 2009-09-25 04:44:54
GP Bullhound announce winners of Investor AllStars Awards 2009
Venture Capital industry celebrates 'Oscars' for excellence and outstanding contributions
London – 24 September 2009 – Investor AllStars 2009 announced last night the winners of its awards to recognise excellence in the world of venture capital. Winners in the twelve categories were revealed at the awards ceremony and dinner which took place on 23 September at the Park Lane Hilton, London.
The event, now in their seventh year, was organised jointly by GP Bullhound, the research-centric investment bank specialising in technology, media and telecommunications, and Vitesse Media, the multi-platform media business that specialises in growth businesses and entrepreneurs.
This was the second year that nominations for awards had been open to members of the venture capital community in Continental Europe. The ceremony demonstrated the industry has successfully weathered the storm and that there are promising signs within the exit and the IPO markets as investors continue to back portfolio companies and create European companies of scale.
Sean Seton-Rogers at PROfounders won the VC Personality of the Year Award.
Sonim Technologies won the Alchemy Triumph over Adversity Award.
The Outstanding Contribution of the Year Award was presented to Hermann Hauser at Amadeus.
Sofinnova Partners won the Exit of the Year Award for the sale of Core Valve.
The complete list of award winners for 2009 is:
• Venture Capital Fund of the Year: Northzone
• Deal Envy of the Year: Playfish (Accel, Index Ventures)
• Outstanding Contribution of the Year: Hermann Hauser, Amadeus
• VC Personality of the Year: Sean Seton-Rogers, PROfounders
• Cleantech Investor of the Year: Environmental Technologies Fund
• Buyout/Development Capital Fund of the Year: Investcorp Technology Partners
• Equity Gap Fund of the Year: NorthStar Equity Investors
• VCT of the Year: Albion Ventures
• Private Investor Network of the Year: Envestors
• Service Provider of the Year: Bird & Bird
• Alchemy's Triumph Over Adversity Award: Sonim Technologies
• Exit of the Year: Core Valve (Sofinnova Partners)
500 of Europe’s leading entrepreneurs, venture capital professionals and investors attended the awards ceremony sponsored by MTI, Schroders Private Banking, Alchemy, Private Equity Recruitment, Howard Kennedy, Penrose Financial, Ansarada, Marriott Harrison Solicitors and Bird & Bird.
Media partners included City A.M., The Chilli, Telecomfinance, Mediafinance and Millnet.
The compere for the evening was BBC Newsnight presenter Emily Maitlis, and the keynote speaker and principal guest was Mark Sebba CEO of online fashion retailer, Net-a-porter, who spoke about eCommerce.
The judges for the 2009 awards were:
• Manish Madhvani, Co-founder, GP Bullhound (Chairman)
• George Coelho, Managing Director, Good Energies (UK) LLP
• Pär-Jörgen Pärson, General Partner, Northzone Ventures
• Wol Kolade, Managing Partner, Isis Equity Partners
• Antoine Colboc, Head, Crédit Agricole Private Equity
• Pierre de Fouquet, Co-MD & Founder Iris Capital, Chairman AFIC
• Dr David Holbrook, General Partner, MTI Partners
• Stephan Ziff, Investment Principal, Coller Capital
• Claus Højberg Andersen, Partner & Co-founder, Nordic Venture Partners
• Richard Brass, Director, Schroders Private Banking
• Marc Barber, Editor, Business XL
• Gail McManus, Founder, Private Equity Recruitment
• Ash Mehta, Chief Executive, Orchard Growth Partners
For full details of the winners, please see the Investor AllStars website: www.investorallstars.co.uk
Sara Williams of Vitesse Media said:
"We are proud to announce the winners of this year`s awards. As in past years, they reflect the increasing maturity of the venture capital industry in the UK and Europe. They also show how many entrepreneurs have worked hard to create new revenue streams, and have adapt business plans to reflect the tough conditions, in order to protect, and in some cases, enhance profitability."
Manish Madhvani, Co-Founder of GP Bullhound and Chairman of the judging panel, said:
"The winners of these awards show that innovation and entrepreneurship is still very much alive and kicking in Europe. Despite the threat of regulation and economic difficulties, the investment community, entrepreneurs and investors have demonstrated a lot of resilience, and many are weathering the storm.
"It is important that we continue to highlight the very important contribution these risk-takers make to transforming European companies into world-beating firms companies, as it is their ingenuity and determination that contributes to powering the continent towards positive growth."
23rd September 2009 - GP Bullhound advises eCommera, the leading provider of SaaS e-commerce services, on its £5m expansion round
Posted On: 2009-09-23 06:43:21
GP Bullhound, the technology investment bank with offices in London and San Francisco, has acted as sole advisor to eCommera Ltd the UK-based provider of e-commerce services to the retail industry on its £5m development capital round of financing.
eCommera CEO Andrew McGregor comments: “We selected GP Bullhound on the basis of their deep sector expertise and global network. They delivered at every point of the process.”
Founded in 2007 by Michael Ross, online entrepreneur and founder of highly successful online fashion retailer Figleaves.com, and ex-BT marketing director, Andrew McGregor, eCommera provides an enterprise class Software as a Service (SaaS) platform to large retailers such as Asda and House of Fraser to establish and run profitable online retail operations. The company also provides a dashboard that helps retailers understand the drivers of profit and growth in the highly competitive world of online commerce. The funding will be used to expand the company’s services and geographical reach. eCommera today serves over 20 major retailers, and has over 70 staff, many of whom are veterans from the e-commerce industry from companies like – Arcadia, Tesco, Fish 4, Dell, Woolworths and Harrods.
The funding was provided by Frog Capital and GP Bullhound Sidecar together with the existing shareholder West Coast Capital.
“We are delighted to have become an investor in eCommera. The company has grown quickly from start-up and secured an impressive list of retail brand name customers in its first two years,” says Mike Reid, Managing Partner at Frog Capital. “We believe there’s a huge opportunity for eCommera to help organisations to better exploit the growth in online, digital channels globally”
“The company has performed very strongly since our original investment and is a great example of how a combination of industry expertise and technology innovation can deliver a compelling proposition to the retail market. With our portfolio focused on the retail industry, eCommera is a great fit strategically,” said Paul Davidson, Partner at West Coast Capital.
This deal represents the completion of GP Bullhound`s fourth transaction in the ecommerce sector over the past 12 months.
20 September 2009 - Figleaves founder returns with new venture
Posted On: 2009-09-21 06:25:45
By Maija Palmer, Technology Correspondent
Published: September 20 2009 22:43 | Last updated: September 20 2009 22:43
Michael Ross, the founder of online underwear retailer Figleaves.com, is back with a new company that helps high-street shops create an online presence.
He has raised £5m new financing for the company, ECommera, from investors including Frog Capital, West Coast Capital and GP Bullhound. The money is to expand capacity and attract new customers.
So far, ECommera has helped more than 20 larger retailers, including Asda and House of Fraser, to run their online operations. ECommera’s software analyses customer trends: where they click, what is popular, and how to get consumers to buy more. Mr Ross says that, in the downturn, such services are becoming increasingly valuable for retailers.
“Not only is online the only bit of retail that is generating growth, but people are looking at how to move from driving sales to driving profit,” he said. “There are so few success stories out there. Even the online retailers that are doing well often don’t understand why. They have just stumbled upon it, and don’t really know how to drive online trade.”
ECommera had revenues of £4m last year, and expects to grow 70 per cent this year. Mr Ross expects the business to reach profitability in a year’s time.
Mr Ross says he is benefiting from much that he learnt while running Figleaves, which was one of the UK’s few survivors from the original dotcom era.
“We made every mistake you could make. I had seven years of trying absolutely everything, and there are a lot of learnings from Figleaves,” said Mr Ross, who left the company three years ago but still maintains a minority stake.
ECommera is targeting customers who have sales of between £20m and £300m online. Bigger online retailers such as Tesco and Argos generally want to run their own website and analytics. Much smaller internet retailers are already served by rivals such as Venda.com. The mid-market, however, was under-served, said Mr Ross.
7 July 2009 - GP Bullhound publishes a new research report: "How real can we make games and virtual worlds?"
Posted On: 2009-08-06 11:38:17
We are spending more and more time in front of screens consuming more and more digital entertainment. In fact each year approximately 16 billion square meters of screens is added to the market. This is the equivalent of over two A4-sized screens for every person on Earth. And we are hungry for more. Broadband internet access is approaching 100% penetration in developed economies and wireless broadband usage is growing fast in the developing world. This has allowed for ever more realistic entertainment to be delivered to a screen near you – from computer games and animated films to virtual worlds and mobile communities. The consumer is pushing the boundaries of what can be delivered using current business models and existing software and hardware.
9th July 2009 - Hotwire have invited Hugh Campbell, to participate in “Embracing Innovation in an age of risk aversion” a Battle of Ideas conference for Hotwire PR.
Posted On: 2009-06-29 04:29:22
This day of discussions will explore the impact of risk aversion within contemporary western culture on our attitudes towards innovation in various fields: from economic activity and entrepreneurship to social networking and parenting. Hugh will contribute to the panel discussion on risk aversion and barriers to innovation.Other panellists include: Rob Killick, CEO, cScape; author, UK After The Recession, Joe Kaplinsky, researcher Imperial College, author Energise, Kristin Syltevik, group managing director, Hotwire, Andrew Watson, co-founder and CEO of Hotwire client ipVA.
15 July 2009 -- The European Leadership Programme (ELP) have invited Hugh Campbell, Partner at GP Bullhound, to address a group of high tech CEOs
Posted On: 2009-06-23 13:14:20
Taking place on 15th July, the seminar will give CEOs the opportunity to meet with one another, as well as hear from highly experienced CEOs and ELP members: Mark Curtis of Flirtomatic, Margaret Rice-Jones of Aircom International, and Katarina Skoberne of OpenAd.
Ashley Ward will be asking the question ‘How can a community of CEOs kiss goodbye to recession?’ and will talk about what the European Leadership Programme offers to CEOs in their personal and professional development: structured workshops facilitated by subject specialists, as well as facilitated group debate and peer-group support and coaching.
The seminar will be taking place at the offices of Taylor Wessing LLP, with whom ELP have recently formed a partnership.
11 November -- Nordic Private Equity Congress
Posted On: 2009-06-11 09:28:39
Per Roman will be speaking at the Nordic Private Equity Congress which is being held at the Grand Hotel in Stockholm on 11th of November 2009. Additional information can be found at the address: http://www.svca.se/npec2008
4 July 2009 -- Hugh Campbell hosts panel at Mobile Web2.0 Summit
Posted On: 2009-06-10 06:23:41
Hugh Campbell, Partner at GP Bullhound, will host a panel of venture capitalists at the forthcoming Mobile Web 2.0 Summit. This comes on the back of the research the firm has done in the Mobile Communities sector (see March report). The panel will assess the past performance of mobile investments and ask, where in Mobile 2.0, is the next growth opportunity.
The panel will include Roberto Bonanzinga from Balderton Capital, Mark Gracey from Scottish Equity Partners and Daniel Waterhouse from Wellington Partners.
1 June 2009 -- GP Bullhound publishes new research report: "How Real is the Vision of a Smart Grid?"
Posted On: 2009-06-01 07:20:42
The "Smart Grid" is often described as the "Internet for Electricity" in which will modernize our aging electricity distribution grids with the goals of reducing excess energy and incorporating renewable energy sources. Numerous factors are forcing the outdated energy distribution grids around the world to become ‘smarter’, from rising energy costs to environmental concerns. The Smart Grid market is forecast to grow rapidly in 2009, reaching US$25bn of revenues, up 50% from 2008.
6th May 2009 - GP Bullhound advises Player X on sale to ZED
Posted On: 2009-05-06 12:16:49
GP Bullhound, the technology investment bank with offices in London and San Francisco, has acted as sole advisor to Player X (www.playerx.com) the mobile game and content aggregator on its sales to ZED Group.
Player X who provides mobile content aggregation and managed services for operator has recently launched 100% mobile solution for off-deck games portal with Telefonica O2 in the UK. It has extensive mobile content relationships with content providers around the world as well as a development and test facility in India.
ZED Group develops and markets entertainment, community products and services for mobile and the Internet. It engages in the production of computer animated movies and video games to provide mobile value added services to mobile operators internationally. Zed was formerly known as LaNetro Zed .The Company was founded in 1996 and is based in Las Rozas, Spain. It has operations in Europe, the United States, China, and the Russian Federation. Zed group is a subsidiary of Wisdom Entertainment.
This deal represents the completion of GP Bullhound`s fifth transaction of 2009.
16th March 2009 - GP Bullhound advises Greetz, the leading online personalised greeting card company, on its €7m expansion round
Posted On: 2009-03-16 06:28:06
GP Bullhound, the technology investment bank with offices in London and San Francisco, has acted as sole advisor to Greetz (www.greetz.com) the online personalised, printed and posted greeting card service on its development capital round of financing.
Greetz CEO Johan Van Vulpen comments: “We were delighted with the quality of the GP Bullhound service from start to finish. They demonstrated excellent e-commerce expertise and had a truly impressive international network of investors and strategic partners.”
Greetz has grown strongly in recent years sending more than 3.2m cards last year and is the market leader in the Netherlands. The capital will be used to strengthen the company’s position in the Dutch market and execute on its international expansion. Greetz has recently launched in France, Germany and the United Kingdom.
The funding was provided by ePlanet Ventures together with the existing shareholder Prime Technology Ventures. On the syndicate Johan stated “Once again, our existing shareholder Prime Technology Ventures has demonstrated its trust in our company. Furthermore, we are pleased to welcome ePlanet Ventures, a leading international fund who previously backed such internet successes as Skype and Baidu.”
Sake Bosch, Prime Technology Ventures founder and Managing Partner noted: “We fully support the plans the Greetz management has for the Netherlands and beyond. The Dutch business model is perfectly suited to be used outside the national borders. These international markets will prove to be an important contribution to the future turnover of the company.”
Dennis Atkinson, ePlanet Ventures Managing Director stated: “The traditional market for greeting cards is enormous with healthy margins, yet the current printing on demand market share is only approximately 1%. The expectations are that this market share will increase to more than 10% by 2012. In our view Greetz has significant potential, which is why we look forward to be able to contribute to the future growth of this company.”
This deal represents the completion of GP Bullhound`s fourth transaction of 2009, and the third recent transaction in the Internet sector.
8 March 2009 -- GP Bullhound publishes new research report: "Mobile Communities: The New Mobile Broadband Killer Apps"
Posted On: 2009-03-08 07:12:03
The new generation of handsets and more affordable mobile data plans have led to explosive growth in mobile social networking activity across all major geographies.
At this point in time, mobile social networking is the single most important driver for mobile broadband usage among consumers and often the only use of mobile broadband at all. Revenues generated from the mobile community value chain are forecasted to grow to $28.9 billion in 2012 or beyond with more than 800m users being expected to use their mobile devices to access their social networks.
3rd March 2009 - GP Bullhound advises Fjord, Europe`s leading cross platform digital agency on its expansion round of funding
Posted On: 2009-03-03 06:08:29
GP Bullhound, the technology investment bank with offices in London and San Francisco, has acted as sole advisor to Fjord (www.fjordnet.com) on its development capital round of financing. The capital will be used to help Fjord accelerate growth and expand into new regions, as well as explore new service opportunities. Fjord has worked on flagship projects providing strategic direction and design for major brands, including the BBC, Nokia, Orange, Swisscom and Yahoo! - Most recently, Fjord was instrumental in bringing the award winning BBC iPlayer to mobile. The agency has experienced over 50% profit growth year-on-year for the past four years and currently has offices in London, Berlin and Helsinki, with a New York office opening shortly.
The funding was provided by international private equity firm Beringea Limited. Beringea specialises in media agencies, notably supporting leading full-service digital agency iLG through a period of stellar growth, before generating a 3.3x return on investment on exit.
Fjord CEO Olof Schybergson comments: "We were truly impressed with GP Bullhound`s knowledge of the digital landscape. It was key to helping us position Fjord clearly and effectively to their global network of investors and strategic partners and allowed us to choose the right partner for this next stage of growth."
Beringea chief investment officer Trevor Hope, who led the investment, will be joining Fjord`s board as a non-executive director. He says: "Media and communication companies are increasingly seeking to engage consumers across the mobile and online platforms. Fjord is an established agency, which has already experienced some fantastic growth. Its outstanding management team and expertise means the agency is well placed to capitalise on this specialist market place. Beringea is pleased to help Fjord achieve the next level of development and expand internationally."
This deal represents the completion of GP Bullhound`s third transaction of 2009, and the third recent transaction in the digital agency sector.
16th January 2009 - GP Bullhound advises Meez on its merger with Pulse Entertainment
Posted On: 2009-01-16 11:33:28
GP Bullhound, the technology investment bank with offices in London and San Francisco, has acted as sole advisor to Meez, (www.meez.com) a leading social entertainment community, on its merger with Pulse Entertainment, (www.pulse3D.com) a popular provider of avatar messaging services for mobile phones and web sites. In addition, Los Angeles-based venture capital firm Anthem Venture Partners led a new financing round for Meez.
"This is an outstanding deal for Meez", said John Cahill, CEO of Meez. "Our users are eager to extend their Meez Avatars beyond our games and MeezNation virtual world. The combination of Pulse and Meez will enable personalized Meez messaging, plus the seamless integration of web and mobile Avatars. The new investment will enable the merged companies to continue to grow and to quickly reach profitability."
"Our firm is really excited about this combination", said Anthem Venture Partners’ Brian Mesic. "The web/mobile synergies are compelling from both a customer and advertiser perspective. Perhaps more importantly, we believe the two companies together have a critical mass of users and the scale necessary to thrive despite the difficult climate."
Meez plans to integrate the Pulse messaging services into its portal to offer its eight million registered users advanced web and mobile messaging capabilities. Meez will continue to support the customers of Pulse’s existing avatar messaging services and offer expanded new products based on Meez’s social entertainment platform. In addition, the new mobile messaging options will help drive the Meez virtual item business and integrated sponsorships by offering a "third screen" option for users and for advertisers.
This deal represents the completion of GP Bullhound's second transaction of 2009, and provides further evidence of GP Bullhound's leading M&A expertise in the dynamic Internet and Digital Media space.
15th January 2009 - GP Bullhound advises Firecomms on its $5m funding round
Posted On: 2009-01-15 12:17:09
GP Bullhound, the technology investment bank, today announces the completion of a $5 million financing round for Firecomms, a provider of high-speed Plastic Optical Fiber (POF) components.
The funding round includes significant investment from Switzerland-based telecom provider Swisscom in addition to Alps Electric of Japan and Firecomm’s existing venture capital investors Atlantic Bridge, ACT Venture Finance and Enterprise Ireland.
“Firecomms’ technology has enabled us to offer a Swisscom-branded Fiber Optic self install solution today. Our engineers have recognized the advantage of Firecomms’ Plastic Optical Fiber technology in reducing and simplifying the install time for our IPTV subscribers.” says Pär Lange, investment partner with Swisscom. “We believe our investment in Firecomms will lead to more collaboration between our companies, which will result in the widespread adoption of POF technology throughout the IPTV world.”
Declan O’Mahoney, CEO of Firecomms, commented on GP Bullhound’s role: “GP Bullhound are a value add advisor who demonstrated a strong understanding of our business and financing needs coupled with an impressive reach of global institutional and strategic investors. This financing validates Firecomms’ consumer and automotive product offerings and will enable us to accelerate POF deployments.”
This fundraising represents the completion of GP Bullhound's first private placement announcement for 2009, confirming its position as the leading European Technology Private Placement house.
5 January 2009 -- GP Bullhound publishes new research report: "A recessionary environment will drive new innovation in 2009"
Posted On: 2009-01-05 07:10:10
For a second year running, GP Bullhound is publishing its TMT Predictions for 2009, and we expect continued strong innovation and development in the TMT markets – despite the overhanging cloud of global recession and financial crisis.
Several of our predictions do have a recessionary theme, as we expect consumers and businesses to aggressively scrutinise how they manage and prioritise investments and purchases in 2009. Due to some abrupt changes to spending patterns, we expect that many traditional business models will fail, whereas new will emerge.
17 December 2008 -- GP Bullhound advises leading online multiplayer game and virtual world developer Playdo AB on its EUR3m funding round
Posted On: 2008-12-17 10:54:43
GP Bullhound, the technology investment bank, today announces the completion of a €3 million financing round for Playdo AB, the Internet game developer responsible for Spineworld (www.spineworld.com), a fast growing online multiplayer game with over 1 million registered users.
The funding round was lead by Miniclip Ltd. and Northzone Ventures. The funds will be used for the development of Spineworld as well as for marketing and general corporate purposes.
Rob Small, CEO and Co-Founder of Miniclip, one of the world’s largest casual game destinations, comments that “We are truly impressed with the Spineworld look and feel and long term game vision. We look forward to bring our experience to the table to make this one of the most popular online games in the market”.
According to Torleif Ahlsand, General Partner at Northzone AND Chairman of the Board of Funcom; "The casual MMO market shows great promise, but is also getting increasingly crowded. We believe Spineworld stands out by delivering an attractive combination of a deep story, attractive gameplay, a proven business model, and a unique distribution partner with Miniclip”.
Martin Ericsson, CEO of Playdo AB, commented on GP Bullhound's role: "I was impressed by the strength and global reach of GP Bullhound’s network of institutional investors. This combined with deep domain expertise means they are truly value add advisors. We are delighted to work with Northzone, one of Europe’s premier VC’s and Miniclip, who has become one of world’s largest gaming portals. This financing will enable us to accelerate our rapid growth and roll-out new innovative additional features in Spineworld.”
This fundraising represents the completion of GP Bullhound's tenth private placement for the year, confirming its position as the #1 European Technology Private Placement house.
15 December 2008 -- GP Bullhound publishes new research report: "Proliferation of Internet Widget Applications."
Posted On: 2008-12-15 06:51:56
With the rise of social media properties and Web 2.0 applications, we have seen a dramatic increase in the creation, use and distribution of Internet widgets. An entire industry has arisen around Internet widget applications with numerous companies receiving significant amounts of venture capital financing. However, this market remains nascent with business models and monetization methodologies still developing and evolving. As the Internet widget industry begins to mature and real revenues are generated, we foresee a select group of players taking the lion’s share of the market. Those players with compelling and unique applications, significant reach and strong distribution have the potential to rival some of the biggest players on the Internet today.
27 November 2008 -- GP Bullhound publishes new research report: "Connected Home, the New Wave of Silicon Growth"
Posted On: 2008-11-27 10:45:27
Media content is continually moving from a physical product to the digital form. Consumers are moving away from buying CDs and instead download mp3 tracks, storing them on a PC or media centre. In addition, the scalability and reach of the Internet has created a distribution platform for new content categories, such as user generated video and IPTV.
Such market trends are driving demand for digital home networks that enable multiple devices around the home to access content. However, the high bandwidth, quality of service and reach required of digital home networks means that existing solutions, such as WiFi (802.11g) are insufficient and new networking solutions are required.
This report highlights the need for new solutions in the home network and that both wired and wireless networks will drive demand for silicon.
26 November 2008 - GP Bullhound Throws Open its Doors for the Next Generation
Posted On: 2008-11-26 07:29:04
GP Bullhound will welcome 20 students, aged 16-19, from Swansea College, on the morning of Thursday 27 November, to give them a unique ‘behind-the-scenes’ insight into its workplace.
In the morning, representatives from GP Bullhound will allow the students exclusive access to the company, run workplace tours and allow students to quiz senior executives on what life is like running an investment bank.
The inspiring visit is part of a day-long event, “A Capital Experience”, organised by aspiration-raising business-education programme Career Academies UK and will involve one thousand young people and forty leading London-based companies.
GP Bullhound currently support the Career Academy programme all year round. The programme sees sixth form students undertake a two-year curriculum equivalent to three A-levels, complemented by real life workplace experience, visits to businesses and guest lecturers in the classroom.
Manish Madhvani, Co-Founder and Partner at GP Bullhound said: “Particularly in this current climate, we have a responsibility towards working closely with the next generation to develop a diverse and skilled future workforce. We hope that by welcoming these young people as part of A Capital Experience, we can equip them with inspiring, work-related learning experiences and open their eyes to the career options available to them”.
After their visit to GP Bullhound, students will gather at the Royal National Theatre to share their experiences, participate in a range of business-related activities and hear inspiring words from Miles Templeman, Chief Executive of the Institute of Directors (IoD) and top motivational speaker Action Jackson.
The students will also hear from three of the Prime Minister’s Global Fellows, who have recently returned from placements in the developing economies of Brazil, India and China.
John May, Chief Executive of Career Academies UK, said: “A Capital Experience is a day when the doom and gloom of the continuing economic crisis should be put to one side as businesses across London throw open their doors to young people who aren’t a million years away from entering the workplace. After all, the future of this country – and our place in the global economy – will be in their hands.”
Working particularly with students from diverse backgrounds and areas of social need, who would not normally have access to such opportunities, the Career Academy programme has a demonstrable impact on progression rates into higher education and retention rates between Years 12 and 13.
92% of Career Academy graduates go on to higher education, or an equivalent level of work-related training, compared with a predicted 40% based on their GCSE performance at the start of the programme.
24 October 2008 - GP Bullhound Office Expansion to include additional meeting space
Posted On: 2008-10-24 11:53:09
GP Bullhound, the leading European investment bank, is pleased to announce its new office expansion to include five meeting rooms. These new meeting rooms are situated on the second floor at 52 Jermyn Street, London, SW1Y 6LX. Per Roman, a founding Partner, stated “We are always increasing our commitment to building the leading independent investment bank for TMT growth companies and are looking forward to welcoming our new and existing clients at these new meeting rooms.”
GP Bullhound's partners and executives are always at your disposal to discuss potential co-operation opportunities.
14th October 2008 - GP Bullhound advises leading Internet registry of consumers' belongings MyThings.com on its $5m funding round
Posted On: 2008-10-14 12:18:29
GP Bullhound, the technology investment bank, today announces the completion of a $5 million financing round for MyThings Inc.(www.mythings.com) the Internet based registry of consumer belongings.
The funding comes from new investors, Dotcorp and GP Bullhound Sidecar, as well as current investors, Accel Partners and Carmel Ventures. The funds will be used for sales and marketing as well as integrating its leading partner brands such as Dell, Tesco, ASDA, Currys and Woolworth.
Steve Rosenblum, General Partner at Dotcorp, Co-Founder and CEO of PixMania.com and a member of the Executive Committee of the DSG International Group commented on the deal: "We are delighted to be involved in the growth of MyThings. We believe they have developed very strong partnerships with leading online retailers and are well positioned to sign up new partners through their distinctive platform and services. With nearly one million active members to date, the company is building one of the strongest targeted advertising platforms for online retailers."
Benny Arbel, CEO of MyThings, commented on GP Bullhound's role: "I was amazed by the strength and global reach of GP Bullhound s network with VCs, hedge funds and strategic investors. This combined with deep domain expertise means they are truly value add advisors. We are delighted to work with the fund set up by the founders of Pixmania.com which they built to be one of Europe's largest retail websites, with over €725m revenue in 2007. This financing will enable us to accelerate our rapid growth and roll-out new innovative services to our current and new partners worldwide."
This fundraising represents the completion of GP Bullhound's ninth private placement for the year, confirming its position as the #1 European Technology Private Placement house.
3nd October 2008 -- GP Bullhound advises Cybercom Group AB on the sale of its UK subsidiary to Digital Marketing Group plc
Posted On: 2008-10-03 12:25:20
GP Bullhound, the research-centric technology investment bank, has acted as sole advisor to OMX-listed Cybercom Group AB ("Cybercom"), on the sale of its UK subsidiary to AIM-listed Digital Marketing Group plc ("DMG"). This divestment is part of Cybercom’s strategy to focus on its key growth markets of Eastern Europe and Asia.
"Working with GP Bullhound has been nothing but a pleasure. Throughout the various stages of the sale process, they have been professional, capable, supportive and most importantly successful. They have found the right buyer for our UK division at the right price. I would not hesitate to work with them again and/or recommend them to anyone who was considering undertaking a sale of an IT business” commented Peter Keller, VP of Cybercom Group AB.
The acquisition of Cybercom UK, a leading London based IT systems consultancy and systems integrator specialising in e-commerce and electronic trading, will highly complement DMG’s e-commerce offering, further strengthening DMG’s position in the market and creating significant potential for cross-selling to clients across the group.
This transaction represents the completion of GP Bullhound's third transaction in four weeks, following the funding of The Cloud and Andrino in September. It provides further evidence of GP Bullhound's M&A expertise in the dynamic Internet and e-commerce space.
2 October 2008 - GP Bullhound advises The Cloud on its EUR15m funding round
Posted On: 2008-10-02 13:33:41
GP Bullhound, the European technology investment bank, today announces the completion of a €15 million financing round for The Cloud, Europe’s largest independent wireless broadband provider. The Cloud provides hotel chains, fast food & retail outlets, transport hubs, city councils and regional authorities with state of the art WiFi solutions that provide mobile customers with a fast, simple and cost effective means to connect to the Internet over laptops, mobile phones and mobile entertainment devices.
The funding comes from current investors, a new Norwegian investor Ferd Venture and GP Bullhound Sidecar Fund. It will be used to support aggressive growth plans across Europe where the mobile wireless broadband market is currently fragmented and primed for consolidation. Bjorn Reinseth, Partner at Ferd Venture, commented: “We are happy to join The Cloud as shareholders and enthusiastic about the potential for the wireless broadband market in Europe. The business is already in a strong position with a robust business model and growing revenues. Our partnership will provide the catalyst for further expansion across Europe.”
Steve Nicholson, CEO of The Cloud commented on the deal: "I think everyone appreciates how tough the capital markets are and I believe the timing of this investment is a strong endorsement of the business and its plans for international expansion. The Cloud is pioneering the adoption of out of home wireless broadband and we are strongly positioned to deliver the ultimate mobile Internet experience as the market moves towards critical user mass.”
This fundraising represents the completion of GP Bullhound's eight private placement for the year, confirming its position as the #1 European Technology Private Placement house.
24 September 2008 -- Investor AllStars 2008 a success again with over 600 investment professionals attending
Posted On: 2008-10-01 09:03:18
On 24 September 2008 the 6th Investor AllStars event was held at the Hilton Park Lane, attracting more than 600 investment professionals from across Europe.
“The venture capital industry’s biggest players came together for the Investor AllStars 2008 award ceremony” City AM
“George Coehlo won the award for Outstanding Contribution of the Year at last night’s Investor Allstars awards for the venture capital industry” Financial Times
11th September 2008 - GP Bullhound advises Pan European E-Commerce Company PrivateOutlet.com on its EUR7.3m funding round
Posted On: 2008-09-11 05:11:11
GP Bullhound, the European technology investment bank, today announces the completion of a €7.3 million financing round for PrivateOutlet.com, the Internet based private members designer clothing club.
The funding comes from lead investor BayTech Venture Capital, GP Bullhound Sidecar, Kreos Capital and the management team. It will be used for international expansion and sales and marketing.
Jude Ngu'Ewodo, General Partner at BayTech Venture Capital commented on the deal: "We are delighted to be part of the Private Outlet story. We believe their extensive relationships with the key clothing brands, innovative Pan European infrastructure, network of 1m members and the ability to offer up to 70% off the list price give them a unique position in the market. This financing will enable the management team to exploit the considerable market potential and build a world-class business."
Private Outlet's CEO, Cyril Andrino, commented on GP Bullhound's role: "We have found GP Bullhound to have a true international network of investors and value add partners. As well as having considerable sector knowledge they introduced a number of key strategic partners including media and ecommerce partners and most importantly structured an excellent syndicate of international investors."
This fundraising represents the completion of GP Bullhound's seventh private placement for the year, confirming its position as the #1 European Technology Private Placement house.
1 September 2008 - GP Bullhound strengthens commitment to Scandinavia with two new hires
Posted On: 2008-09-01 11:27:21
GP Bullhound is pleased to announce that Andreas Zartmann joined the firm as a Director. Previously, Andreas was the CFO of two mid-cap technology companies publicly listed on OMX Nordic Exchange, Teleca and Nexus, where he gained extensive experience from the Telecom and IT-Security sectors, Software development and IT services. Most recently Andreas has been running his own TMT focused corporate finance boutique in Sweden. He holds an M.Sc Business Administration from Linkoping University.
Carl Bergholtz has furthermore joined the firm as an Analyst. Prior to joining GP Bullhound, Carl worked as an analyst at Jefferies International covering the TMT and clean technology sectors, working on a number of M&A and capital markets transactions. He graduated from the Stockholm School of Economics with a Masters Degree in International Economics and Business.
21 August 2008 - Paul Rutherford is participating as a panellist at the EVCA Venture Capital Forum
Posted On: 2008-08-21 06:06:45
Paul Rutherford, director at GP Bullhound, is joining a panel debate at the EVCA Venture Capital Forum in Paris on 16 October 2008. The topic under discussion: Can VCs still make good returns from Semiconductor investments? Seasoned professionals join the EVCA Conferences three times a year to debate, network and get up to date with best practices in the fields of venture capital and private equity.
18 August 2008 - Manish Madhvani is participating as a panellist at the Kleinwort Benson Entrepreneurs' Forum
Posted On: 2008-08-18 04:53:19
GP Bullhound's co-founding partner Manish Madhvani will be participating as a panellist at the next Kleinwort Benson Entrepreneurs' Forum on 17 September 2008. The one hour discussion will focus on the growth of digital media and will be attended by around 70 CEO's of private businesses in this space as well as serial entrepreneurs on the lookout for investment opportunities.
19 June 2008 - GP Bullhound is jointly hosting a CEO Summit - 'Countdown to Exit: Paving the Way to a Top Value Exit' on 8 July 2008 in London
Posted On: 2008-06-19 03:19:16
GP Bullhound is jointly hosting a CEO summit on 8 July 2008 at The Royal Bank of Scotland in London. The event will run from around 3:30 to 6pm and is followed by drinks until 8pm.
Our CEO summit 'Countdown to Exit: Paving the Way to a Top Value Exit' is a content rich seminar giving extraordinary guidance into the preparatory work that high growth companies can undertake to improve their chances of a successful exit or IPO. We are building a great line up of panelists such as Michael Jackson, former Chairman of Sage and currently chairman of Party Gaming, who will give us his insight with a key note speech and his forthright views during the panel debates.
It's a short session and the characters involved will ensure it is lively - if you would like to attend please e-mail hanlie.burger@gpbullhound.com.
16th May 2008 - GP Bullhound advises Multiwave Photonics on its EUR5m Series B financing round
Posted On: 2008-05-16 07:11:46
GP Bullhound, the research-centric technology investment bank, today announces the completion of a €5m (US$8m) Series B financing round for Multiwave Photonics, a pioneer and leader in next generation fibre laser systems based in Maia, Portugal.
The round was led by new investor FCR Espirito Santo Ventures II, a venture capital fund managed by ES Ventures (BES Group). The current venture capital investor, Bullnet Capital, also invested in the round.
Proceeds from the round will support Multiwave's aggressive growth strategy and global market expansion plans to allow the Company to become the world's leading provider of next generation pulsed fibre lasers (MOPA) and specialty optical sources based on fibre-optic technologies. The next generation fibre lasers offered by Multiwave allow customers to control its key operating parameters in unique ways. This combination of performance and control provides a higher level of flexibility and value for the customer, to a degree that most currently available laser systems are unable to provide.
Multiwave's CEO, Jose Salcedo, commented: "We have been impressed with GP Bullhound's understanding of our business, international network of VCs, responsiveness and commitment in getting the deal closed. GP Bullhound has proven to be well connected within the global investor community with an excellent reputation. Throughout the process the quality of the advice given and the commitment to the transaction was excellent."
This fundraising with ES Ventures and Bullnet Capital confirms GP Bullhound's pan-European position as the leading European Boutique Technology Investment Bank.
8 May 2008 - GP Bullhound witnesses strong start to 2008 with 5 successful transactions
Posted On: 2008-05-08 12:22:57
GP Bullhound, the leading European investment bank, is pleased to announce a strong start to 2008 with the completion of 5 successful mandates.
The transactions demonstrate GP Bullhound's geographical reach and in-depth understanding of the TMT sector. The successful closures involved parties from the UK, Scandinavia, US, France and Portugal and spanned GP Bullhound's dedicated sector teams in Internet, Software and Semiconductors. The level of activity to date reinforces GP Bullhound's position as one of the most active investment banks covering the sector.
Manish Madhvani, a founding Partner, stated "In spite of the recent volatility in the public markets we continue to witness strong levels of activity with the key strategic and financial players, it is noticeable that several leading funds and well known corporates have stepped up their activity levels since Q2 of 2007. During 2008 we have increased our commitment to building the leading independent investment bank for TMT growth companies, with the expansion of our US office and the recruitment of senior professionals with extensive access to the hedge fund and buyer communities.
GP Bullhound's partners and executives are always at your disposal to discuss potential co-operation opportunities.
26 March 2008 - Alec Dafferner Joins GP Bullhound as Partner and Head of San Francisco Office
Posted On: 2008-03-26 10:21:18
GP Bullhound is pleased to announce that Alec Dafferner has joined the firm as a Partner. Alec will be based in San Francisco, where GP Bullhound recently announced the opening of their new U.S. office at One Maritime Plaza. With over ten years of technology investment banking experience, Alec has executed over 40 transactions for emerging growth companies in the U.S. and abroad, raising over $10 billion in capital and advising on over $2.5 billion in mergers and acquisitions.
Commenting on the addition of Alec to the GP Bullhound team, Christian Lagerling, a founding Partner, stated "We are pleased to have someone with Alec's track record and breadth of experience join the firm. Having focused on the technology sector for over a decade, he brings a wealth of knowledge and deep relationships with key strategic and financial players.
Previously, Alec was an Executive Director at UBS in the Global Technology Investment Banking group where he focused primarily on the Internet and Digital Media sectors. Prior to joining UBS, Alec worked for Volpe Brown Whelan Company where he focused on Internet, Communications and Software-related technology companies.
With offices in London and San Francisco, GP Bullhound is a leading investment bank focused on providing advice on mergers & acquisitions and institutional capital-raising to emerging growth companies in the technology sector. The firm was established in 1999, and has completed over 60 M&A and Private Placement transactions in the technology sector since its founding. With dedicated sector teams in Internet, Software and Semiconductors, GP Bullhound provides preeminent advisory services to entrpreneurs in Europe and the United States.
20 March 2008 - GP Bullhound announces winners of Media Momentum 2008
Posted On: 2008-03-20 13:51:47
It has been yet another great year in the Digital Media sector, and GP Bullhound is proud to announce the Media Momentum top 50 list 2008. At the awards ceremony held at Sketch in London, awards were given out to Net-a-porter, Mobile Interactive Group, Vibrant Media, The Search Works and YouGov. The invitation-only event was attended by UK's top internet and media entrepreneurs.
Competition was fierce and the top 50 companies in this year's list have collectively grown their revenue base from GPB185m to a staggering GPB587m calculated over a three year period.
Manish Madhvani, Co-founder and Partner of GP Bullhound, said: "Media Momentum recognises the hottest, fastest growing digital media businesses in the UK. We recognise the best of the best - wherever they are in the UK and whatever aspect of digital media they're involved in."
The premium sponsors are 3i, Olswang and Sky Digital Media, with ECI and Spectrum as award sponsors, and POD1 doing the event visuals and countdown.
5th March 2008 -- GP Bullhound advises Zinwave on its $10m fundraising
Posted On: 2008-03-10 05:46:25
GP Bullhound, the research-centric technology investment bank, today announces the completion of a $10m financing round for Zinwave, a pioneer and leader in next generation in-building cellular and wireless technology. This Series B financing was led by SEB Venture Capital as well as attracting further funding from existing investors Atlas Venture and Scottish Equity Partners.
Proceeds from this round of financing will support Zinwave's aggressive growth strategy and global market expansion plans. The investment comes hot on the heels of the launch of the Zinwave 3000, a unique wideband active distributed antenna system (DAS), at Mobile World Congress in Barcelona last month and will enable Zinwave to continue its product innovation and strengthen its existing mobile operator and sales channel relationships throughout the US, Europe, and into the rest of EMEA and Asia.
"Everyone hates being out of wireless touch when in-doors or underground," commented James Raby, Investment Manager at SEB Venture Capital. More and more wireless services and network providers are offering greater connectivity to consumers across new pieces of spectrum, a trend we predict will only accelerate. Zinwave leads the way in providing price competitive solutions today that will further enable building owners to ensure the future availability of all these services while also removing their concerns about the risks of future compatibility and capital. We are pleased to be able to support its continued product range growth and sales expansion into the largest US and Asian markets with this new fundraising."
Commenting on GP Bullhound, Jonathan Paget, CEO, said "we were impressed with the work of GP Bullhound. They prepared the company well and ran a very tight and focused process. Throughout the process the quality of the advice given and the commitment to the task at hand was first class."
This fundraising with SEB Venture Capital, Atlas Venture and Scottish Equity Partners confirms GP Bullhound's position as the #1 European Boutique Technology Investment Bank.
28 January 2008 -- GP Bullhound short listed for Boutique of the Year at the M&A Awards 2008
Posted On: 2008-01-28 07:05:44
GP Bullhound is pleased to announced that it has been shortlisted by M&A Magazine for the Boutique of the Year Award 2008. The awards whose headline sponsor is investment bank Landsbanki, recognise the achievements of the most active deal makers and will take place on 21st February at The Hilton Hotel, Park Lane, London from 7pm.
18 January 2008 -- GP Bullhound occupies new offices at One Maritime Plaza in San Francisco
Posted On: 2008-01-18 07:05:14
GP Bullhound, the research-centric technology investment bank, has moved into new offices on the 16th floor of One Maritime Plaza in San Francisco, California.
GP Bullhound Co-founding Partner Christian Lagerling commented: “We’re pleased to see the continued success and momentum of our research led cross border approach. This has enabled us to step up our US west coast commitment further, taking up a larger office for our expanding staff base at One Maritime Plaza, one of the most prestigious office addresses in San Francisco.”
1 December 2007 -- Grant J. Dolkens-Warrell joins as Director
Posted On: 2007-12-01 07:04:42
GP Bullhound is proud to announce the strengthening of its software practise with the hire of Grant Worrell as a Director.
Prior to joining GP Bullhound, Grant was an Operating Partner for PE group Pegasus Capital Advisors and affiliate Manticore Partners. He was an Investment Banker at Lehman Brothers in London and New York where he worked on M&A and Equity Transactions in the Telecom, Media and Technology and Financial Institutions Groups. Grant graduated from The University of Cambridge with MA (Cantab) and BA (Hons.) degrees in Computer Science (with a focus in Mathematics).
28th November 2007 -- GP Bullhound advises Kiala on its $38.5m fundraising
Posted On: 2007-11-28 14:34:57
GP Bullhound, the research-centric technology investment bank, today announces the completion of a $38.5 million financing round for Kiala, the leading independent network of parcel collection points in Europe. The company works with about 4,500 local stores in the Benelux region, France and Austria to distribute parcels. It was created by Denis Payre, the co-founder of Business Objects, the Franco-US software company recently acquired by Germany's SAP for $4.8bn.
The funding comes from lead investor SEP (Scottish Equity Partners), an undisclosed hedge fund and existing investors. This funding will finance the company's expansion in Spain and Russia, countries where the concept of parcel collection points is already established through the way in which the local post currently operates. The capital will also support the continued development of the new collection point networks in the UK and Austria.
Andrew Davison of SEP said: "Kiala is an exciting investment opportunity for SEP. The company's President, Denis Payre is one of the most experienced European technology entrepreneurs and he heads a first class team with a track record in delivering on ambitious growth strategy.
Denis Payre, CEO Kiala, commenting on GP Bullhound's role, said: "GP Bullhound did a great job for us, during the process they had our best interests at heart at all times and had us covered at every turn. They delivered through the preparation, roadshow, negotiation and closing phases of the deal, always thinking one step ahead and consistently providing high quality advice. We are delighted with the outcome."
This fundraising represents the completion of GP Bullhound's eighth announced private placement for the year, confirming its position as the #1 European Technology Private Placement house.
30th October 2007 -- GP Bullhound advises Skinkers on its $16m funding round
Posted On: 2007-10-30 14:34:21
GP Bullhound, the research-centric technology investment bank, today announces the completion of a $16 million financing round for Skinkers, the digital information broadcast leader.
The funding comes from lead investor Acacia Capital Partners, NewMedia Spark and the Skinkers management team. It will be used to further develop their enterprise-wide communication platform business, enhance their Live Notification Platform technology and bring to market LiveStation, the world's first interactive global broadcast network for live television and radio.
Hitesh Mehta, General Partner at Acacia Capital Partners commented on the deal: "We are delighted to be part of the Skinkers story. We believe their innovative approach to the delivery of priority information gives them a unique position in the market. This financing will enable the experienced management team at Skinkers to exploit the market potential for the technology and build a world-class business."
Skinkers' CEO, Matteo Berlucchi, commented on GP Bullhound's role: "We worked with GP Bullhound back in 2003 for our seed round and have once again be delighted by the corporate finance advice they provided for our latest funding round. We believe their strong and personal relationships with the leading venture capital funds across Europe and the USA is unparalleled. Raising finance is never a simple affair and GP Bullhound has helped us navigate through this process with minimum fuss, enabling us to raise finance quickly and efficiently."
This fundraising represents the completion of GP Bullhound's seventh private placement for the year, confirming its position as the #1 European Technology Private Placement house.
8 October 2007 -- Claudio Alvarez joins as Associate
Posted On: 2007-10-08 07:04:07
GP Bullhound is delighted to announce the strengthening of its franchise with the hire of Claudio Alvarez as an Associate.
Claudio has experience in the Equity Research field, and was previously a research analyst at Edison Investment Research covering small-cap IT Services, Mobile Content and Telecom Services companies.
27 September 2007 -- GP Bullhound and Vitesse Media announce winners of Investor AllStars Awards 2007
Posted On: 2007-09-27 07:02:52
London – September 27, 2007 – GP Bullhound, the research-centric technology investment bank, and Vitesse Media, the specialist publisher focused on growth businesses, announced the winners of the prestigious Investor AllStars awards for excellence in the venture capital sector at the fifth annual Investor AllStars awards ceremony last night at the Hilton Park Lane.
The inaugural winner of Jon Moulton's Triumph over Adversity Award was Paragon Group.
Mark Farmer, Eden Ventures won the VC Personality of the Year Award.
Eden Ventures and Kennet Partners won the Exit of the Year Award for the sale of Cramer Systems.
The special Outstanding Contribution of the Year Award was presented to Danny Rimer, Index Ventures.
Nearly 600 of the country’s leading entrepreneurs, venture capital professionals attended the awards ceremony sponsored by MTI, UK Trade & Investment, 3i, Private Equity Recruit, Millnet and Penrose Financial. Media support came from partners City AM and Business XL.
The compere for the evening was BBC News presenter Emily Maitlis and the keynote speaker and principal guest was Dr Steve Garnett, Chairman & Co-President EMEA of Salesforce.com, who drew on his vast knowledge and expertise to talk about the future of the European software industry.
A total of 10 awards were presented at the ceremony, which was preceded by a dinner. The winners were chosen by a distinguished panel of judges, comprising:
George Coelho, Partner at Benchmark Capital
David Holbrook, Partner at MTI Partners
Manish Madhvani, Partner at GP Bullhound
Sara Williams, CEO of Vitesse Media
Gail McManus, MD of PER Ltd
Ian Lobley, Partner at 3i
Derek Goodwin, Head of Global Entrepreneur Programme at UK Trade & Investment
Manish Madhvani of GP Bullhound and Sara Williams of Vitesse Media said: “Venture capital continues to make an invaluable contribution to the UK economy and is establishing a strong reputation for developing world-class growth companies. These awards recognise the investors who are driving innovation and entrepreneurship.”
The complete list of award winners for 2007 is:
Jon Moulton's Triumph Over Adversity Award
Paragon Group
VC Personality of the Year
Mark Farmer, Eden Ventures
Exit of the Year
Cramer Systems – Eden Ventures and Kennet Partners
Outstanding Contribution of the Year
Danny Rimer, Index Ventures
Venture Capital Fund of the Year
Index Ventures Venture Capital Trust of the Year
Octopus Private Equity International Deal of the Year: Safeguard/Sudbrook
Private Investor Network of the Year
Hotbed Group Equity Gap Fund of the Year
North West Business Investment Scheme Service Provider of the Year
Kreos Capital
15 September 2007 -- Raphael Raingold joins as Associate
Posted On: 2007-09-15 07:02:21
GP Bullhound is delighted to announce the strengthening of its Digital Media and Internet team, with the hire of Raphael Raingold as an Associate. Raphael will also be responsible for developing the French franchise. Raphael is joining from Merrill Lynch technology corporate finance team.
Raphael was previously an entrepreneur in 1999, when he set up one of France's leading domain name companies, Domainoo.com, after raising funds with Europatweb. The company was sold in 2003. He then gained experience in the wireless internet space through Wireless Partners. Following that, he joined the Merrill Lynch technology corporate finance team, where he worked actively on leading European technology deals.
7th August 2007 -- GP Bullhound advises Mirics on its Series B Extension
Posted On: 2007-08-07 14:33:46
GP Bullhound, the research-centric technology investment bank, today announces a second closing on the Series B financing round for Mirics Inc, a leading developer of chips used to receive TV and radio broadcast signals in mobile devices. Acacia Capital Partners joins the round taking the total raised up to $12 million, the initial investment was led by Intel Capital together with Pond Ventures.
Founded in 2004, Mirics has developed technology enabling a reconfigurable radio frequency tuner for use in mobile devices. Mobile phone handsets, notebook computers and other mobile devices increasingly incorporate radio and TV reception into their designs. Mirics technologies offer solutions to address challenges facing the fragmented nature of global mobile standards, improve energy efficiency, and meet portability demands of mobile devices.
Mirics’s CEO, Simon Atkinson, commented: “GP Bullhound provided the highest quality advice to us throughout a very well run fundraising process, further validated by their ability to bring Acacia on so quickly. The level of interest after announcing our first close was very high, GP Bullhound worked with us to select the right partner and we are delighted with the result. A large part of the reason we find ourselves in the great position we do is down to their excellent work. I wouldn’t hesitate to work with them again or recommend them to a third party.
6 August 2007 -- GP Bullhound & Vitesse Media Announces Shortlist for Investor Allstars
Posted On: 2007-08-06 07:01:25
London – August 6, 2007 – GP Bullhound, the research-centric technology investment bank and Vitesse Media, the specialist publisher focused on growth businesses, today announced the nominees for the prestigious Investor Allstars awards to celebrate excellence in the venture capital sector. The winners will be announced at the fifth Investor Allstars awards ceremony on September 26, 2007 at the Hilton, Park Lane.
The awards will be presented in ten categories, including Venture Capital Fund of the Year, Exit of the Year, Private Investor Network of the Year and VC Personality of the Year.
Jon Moulton of Alchemy Partners is sponsoring a new awards category in 2007 to be presented for the best survivor in the venture capital investment arena. Other sponsors include MTI, UK Trade & Investment, 3i, Private Equity Recruit, Millnet and Penrose Financial. Media partners include City AM and Business XL.
Nominees for the Venture Capital Fund of the Year include household names such as Index Ventures, the backers of Skype, Esprit Capital Partners, the backers of KVS and Benchmark Capital, the backers of eBay.
For Exit of the Year, the judges will select a winner from high profile contenders including Index Ventures for the sale of social music platform last.fm to CBS for a reported $280 million and Beringea and New Media Spark plc, for the sale of financial information service Mergermarket to the FT Group, a subsidiary of Pearson plc for £101 million.
The shortlist for VC Personality of the Year includes well-known names such as Simon Cook of Esprit Capital Partners, Philip Newborough of Bridges Ventures, Simon Cornwell of Amadeus Capital Partners, Chris Allner from Octopus Private Equity & Frederic Court of Advent Venture Partners.
The panel of judges comprises Wol Kolade, Chairman of the BVCA; George Coelho, Partner at Benchmark Capital; David Holbrook, Partner at MTI Partners; Manish Madhvani, Partner at GP Bullhound; Sara Williams, CEO of Vitesse Media; Ian Lobley, Partner at 3i, Gail McManus, MD of PER Ltd & Derek Goodwin, Head of Global Entrepreneur Programme at UK Trade & Investment.
For a full list of categories and nominees, please go to www.investorallstars.com Manish Madhvani of GP Bullhound and Sara Williams of Vitesse Media said: “Venture capital continues to make an invaluable contribution to the U.K. economy and is establishing a strong reputation for developing world-classgrowth companies. These awards recognise the investors who are driving innovation and entrepreneurship.”
For further information, please contact:
Penrose Financial
Kay Larsen
+44 (0)20 7786 4858
+44 (0)7747 631614
GP Bullhound
Cecilia Roman
+44 (0)207 101 7560
20th July 2007 -- GP Bullhound advises watAgame on its funding from Accel Partners
Posted On: 2007-07-20 14:33:11
GP Bullhound, the research-centric technology investment bank, today announces the completion of a £3 million financing round for watAgame, the Danish company behind goSupermodel, a social networking game for teenage girls centred around fashion.
The funding will be used to launch goSupermodel in new markets and further develop the game. The investment was led by Accel Partners together with Vaekstfonden and Seed Capital.
watAgame's CEO, Henrik Riis, commented:
"The goSupermodel community recently reached 1 million users and is now racing towards 2 million. With such rapid growth we decided to seek funding so that we can hire new people, launch in other markets and expand the features available in the product. We chose Accel because they are a leading international venture capitalist firm with extensive knowledge of our space and an extremely valuable network internationally, crucially in the US."
"We have been very happy working with the GP Bullhound team. They found the perfect VC partner for us and did so within the given timeframe. They get my full recommendation!"
This fundraising represents the completion of GP Bullhound's fifth private placement for the year, confirming its position as the #1 European Technology Private Placement house.
17 July 2007 -- Antony Northrop, founder of Touchstone Securities Limited, joins GP Bullhound on sale of Touchstone to GP Bullhound
Posted On: 2007-07-17 06:55:03
GP Bullhound, the specialist technology investment bank, today announced the acquisition of Touchstone Securities Limited. Antony Northrop, founder and Managing Director of Touchstone has been appointed a Partner at GP Bullhound. Prior to establishing Touchstone, Antony was a Partner at Lazard Brothers & Co. Limited.
Touchstone Securities specialises in M&A and corporate finance advice primarily in the Telecoms and Media sectors and specifically in the Satellite sector. Clients have included SES Astra, Inmarsat, SES Global, 3i Deutschland, OHB Technology AG, Streets online and Nevada Telecom. Touchstone has advised on over 25 transactions in the satellite sector over the past ten years and across the entire business has advised on transactions with a value in excess of US$ 10 billion.
The combination of Touchstone and GP Bullhound is a positive move for both companies. Touchstone gains access to a North American presence and a high quality technology research effort while GP Bullhound secures more experience in larger and publicly quoted company M&A. We see the combination as being highly positive to both sets of clients and look forward to working together over the coming years."
4th July 2007 -- GP Bullhound advises Mirics Inc on its $10m fundraising
Posted On: 2007-07-04 14:32:37
GP Bullhound, the research-centric technology investment bank, today announces the completion of a $10 million financing round for Mirics Inc, a leading developer of chips used to receive TV and radio broadcast signals in mobile devices. The investment was led by Intel Capital together with Pond Ventures.
Founded in 2004, Mirics has developed technology enabling a reconfigurable radio frequency tuner for use in mobile devices. Mobile phone handsets, notebook computers and other mobile devices increasingly incorporate radio and TV reception into their designs. Mirics technologies offer solutions to address challenges facing the fragmented nature of global mobile standards, improve energy efficiency, and meet portability demands of mobile devices.
This fundraising represents the completion of GP Bullhound’s third Semiconductor deal in 2007, following the €20m raise for Nanoradio AB in June and the sale of Nordic Semiconductor’s Data Converter Unit to Chipidea in February. It also represents GP Bullhound’s ninth transaction for the year, confirming our position as the #1 European Technology Private Placement house.
Mirics’s CEO, Simon Atkinson, commented:
“GP Bullhound provided the highest quality advice to us throughout a very well run fundraising process. A large part of the reason we find ourselves in the great position we do is down to their excellent work. I wouldn’t hesitate to work with them again or recommend them to a third party.
4th July 2007 GP Bullhound advises Graphico New Media on its sale to Digital Marketing Group plc
Posted On: 2007-07-04 09:11:29
GP Bullhound, the research-centric technology investment bank, has acted as sole advisor to UK based digital agency Graphico New Media ltd ("Graphico"), on its sale to AIM listed Digital Marketing Group plc ("DMG"). DMG is acquiring the entire share capital of Graphico.
"Working with GP Bullhound has been nothing but a pleasure. Throughout the various stages of the sale process, they have been professional, capable, supportive and most importantly successful. I would not hesitate to work with them again and/or recommend them to anyone who was considering undertaking a sale of creative media/IT based business" commented Mark Bennett, CEO of Graphico.
The acquisition of Graphico, a leading full service creative digital agency with skills in mobile marketing, reaffirms DMG's 'buy and build' strategy of acquiring companies that have activities in 'online' marketing, 'offline' direct marketing and database marketing.
Graphico's CEO, Mark Bennett, commented "As part of a specialist group, we are confident we will be able to drive the growth of our business and provide our clients with an enhanced comprehensive digital marketing offering."
This transaction represents the completion of GP Bullhound's third M&A transaction in 2007, following the sale of Nordic Semiconductor's Data Converter Unit to Chipidea in February and the acquisition of Aramova by Birdstep in January. It further strengthens GP Bullhound's expertise in the dynamic UK digital media space, following other successful transactions such as Passado.com and Handbag in 2006.
Graphico, founded in 1990, is an award-winning full service creative digital agency with mobile marketing skills. The core business area lies in the design, development and maintenance of web-sites, from brand extension sites to full e-commerce based applications. Since the business was established, it has developed by combining both creative and technical skills to provide tailored solutions for its clients. Graphico is based in Newbury and employs approximately 70 people.
17th June 2007 -- GP Bullhound advises Handmade Mobile on its GPB2m fundraising
Posted On: 2007-06-17 14:31:07
GP Bullhound, the research centric technology investment bank, today announces the completion of a 2,000,000 Series B financing round for Handmade Mobile Entertainment Ltd, which devised and launched Flirtomatic, the cross-platform flirting service. The financing was raised from both existing and new investors including Doughty Hanson and Seraphim Capital. Flirtomatic is the UK's first online flirting service, offering an integrated service across both the web and mobile. GP Bullhound also advised on the Series A financing in 2005.
Avi Azulai, the former co founder of iTouch, and Chairman of Handmade Mobile comments "We have now worked with the GP Bullhound team on two very successful rounds of financing and once again have been delighted with their sector knowledge, impressive network and considerable value add."
In the UK alone Flirtomatic now boasts over 100 million page views per month across both the web and WAP and a total registration base of over 380,000. Mark Boggett, Investment Director, Seraphim Capital comments: "Our research demonstrated that, based on current monthly page impressions, Flirtomatic is already one of the top ten mobile internet sites in the UK.
Usage levels on the service are currently four to five times higher than industry norms, with mobile users visiting the site on average more than 8 times a day, and web users spending longer on Flirtomatic than main stream social networking sites such as Facebook.
8th June 2007 -- GP Bullhound advises Nanoradio AB on its EUR20m fundraising
Posted On: 2007-06-08 14:30:26
GP Bullhound, the research centric technology investment bank, today announces the completion of a €20m financing round for Nanoradio AB, a leading supplier of WLAN semiconductors for cell phones and portable consumer electronics. The investment was led by Norwegian firm, Ferd Venture, together with Nordic Venture Partners, Innovacom, Teknoinvest and Industrifonden.
This fundraising represents the completion of GP Bullhound’s second Semiconductor related deal in 2007, following the sale of Nordic Semiconductor’s Data Converter Unit to Chipidea in February.
Nanoradio’s CEO, Par Bergsten, commented:
“We have been impressed with GP Bullhound’s understanding of our business, international network of VCs, responsiveness and commitment in getting the deal closed in a short period of time. GP Bullhound has proven to be a well-known name in the VC community with a good reputation which has clearly contributed to the impressive result."
Founded in March 2004 and headquartered in Kista, Sweden, Nanoradio AB is a semiconductor supplier targeting the cellular handset and consumer electronics market. Nanoradio has developed a state-of-the-art technology for WLAN semiconductors, with a focus on the critical success factors for cell phones and portable electronic devices, namely, power consumption, physical size and total cost for the customer. Nanoradio has a team of 70 people with extensive experience from the cellular and wireless industry.
27 March 2007 -- Top 50 League Table of Fastest Growing Digital Media Companies in the UK
Posted On: 2007-03-27 09:36:57
London, March 2007: Investment Bank, GP Bullhound have announced the launch of their 2007 Media Momentum awards held in association with Sky, Barclays and Olswang.
The awards celebrate & profile the innovative companies that are the UK's next Youtube, MySpace or Google.
The 2006 event saw 150 of the most influential decision makers from the media industry attend the invitation only event where the 50 fastest growing media and new media companies were announced. The Top 50 companies in the 2006 list successfully grew their revenue base from GPB150m to GPB600m in a 2 year period, media coverage for the winners was extensive with coverage in publications such as The Times, The Independent, Media Week, New Media Age, Revolution and Yahoo.
To qualify for the awards, media companies will be ranked according to annual revenue growth rates between 2003-2005. Latitude, the UK's leading search engine marketing agency, emerged in pole position in the 2006 awards with a reported revenue growth rate of 3659%.The remaining top 5 companies in descending order of growth where Inspired Broadcast Networks, iFone, Aura Sports and Optimad Media Systems.
The announcement of winners and the top 50 companies will take place at the Awards Dinner at Sketch restaurant on 27th March 2007.
The judging panel each year also selects 5 "Media Momentum Stars" - the companies they believe have the most exceptional growth potential. The panel of industry experts includes Anil Hansjee, Head of M&A Google Europe, Bishop, President of Miva and Co Founder of Espotting and Avi Azulai Co-founder and Ex-Managing Director of iTouch, In 2006, the Judges award went to Betfair who operates the world's leading betting exchange, for their innovative system that has revolutionised gambling.
For more information please contact:
Cecilia Roman
Head of Events - GP Bullhound Ltd
T:+44 (0) 207 101 7560
email:cecilia.roman@gpbullhound.com
21st March 2007 -- GP Bullhound advises Nordic Semiconductor ASA on the sale of its Data Converter Business Unit to Chipidea
Posted On: 2007-03-21 23:38:14
GP Bullhound, the specialist technology investment bank, has acted as sole advisor to publicly-quoted Nordic Semiconductor ASA on the sale of its Data Converter Business Unit to Portugal-based Chipidea. The transaction successfully closed on Tuesday 13th March 2007. Hans-Petter Hauge, Nordic Semiconductor’s CFO, commented that “we have been very pleased with GP Bullhound’s close involvement in this transaction. GP Bullhound’s global network of semiconductor companies ensured that we found a buyer with an optimal fit as well as provide a stimulating working environment for the team.
The acquisition of this business further strengthens Chipidea's position in the data converter market and adds a significant catalogue of IP to what is already the industry's widest, end-to-end, analog and mixed-signal portfolio. The Data Converter Business Unit of Nordic Semiconductor is a long-term technology leader in data conversion IP products for in-house projects, third-party ASIC designs, and standard products.
The designs are leading-edge analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) for use in areas such as digital photography, wireless networks and video. The sale of Nordic's Data Converter Business Unit will further strengthen Nordic Semiconductor's focus on radio frequency (RF) components for the wireless personal area network, primarily in the 2.4GHz frequency band including both proprietary and Wibree radios. “The sale represents another important step in Nordic Semiconductor’s transition from being a provider of design services and IP to a leading European fabless semiconductor supplier of standard RF components," according to Nordic CEO, Svenn-Tore Larsen.
15 March 2007 -- Paul Rutherford joins as Director
Posted On: 2007-03-15 09:34:20
GP Bullhound is proud to announce the strengthening of its semis practice with the hire of Paul Rutherford as a Director.
Paul offers our clients a valuable mix of both industry and financial experience having started out his career at Cadence as a chip design engineer, was later in charge of product dev at Alphamosaic ultimately sold to Broadcom and most recently was a highly ranked semis equity research analyst at ABN AMRO.
25 January 2007 -- Frank Schmitt joins as Associate
Posted On: 2007-01-25 09:32:45
GP Bullhound is delighted to announce the strengthening of its Internet and Digital Media practice with the hire of Frank Schmitt as an Associate.
Frank was previously a technology investment banker at Arma Partners and UBS Investment Bank in London where he worked actively on a number of technology transactions in the IT Services, Software and Internet and Digital Media space.
23 January 2007 -- Senior TMT banker, Matt Rogers joins GP Bullhound as a Partner
Posted On: 2007-01-23 09:31:02
GP Bullhound, the specialist technology investment bank, today announced the acquisition of certain assets from Rogere Capital Limited and Rogere Industries. The transaction also includes the appointment of Matt Rogers as a Partner at GP Bullhound.
Matt is the founder and Managing Director of Rogere Industries and was prior to that the head of Credit Suisse’s European Technology Private Placement business. He has extensive experience in providing fundraising and M&A advice to technology companies in the UK, continental Europe, the US and Israel. In the past few years Matt has closed more than 30 transactions with an aggregate value of more than $1.5bn.
Matt Rogers’ previous clients include Cambridge Silicon Radio, Gemplus and Accenture. Recent fundraising transactions include Optasia Medical ($5m), VirtenSys ($13.5m), Colibria ($10m) and NexWave Solutions ($10m). Recent M&A transactions include the buyside advice and associated fundraising for Napatech’s acquisition of Xyratex assets, the sale of Vidus to @Road ($55m) and DME’s undisclosed sale to ACNielsen (VNU Inc).
“Combining my business with the market leading TMT corporate finance platform that GP Bullhound has built makes a lot of sense. It provides me with a great opportunity to leverage GP Bullhound’s technology research product and their US network as well as benefit from the transactional experience of the rest of the team,” says Matt Rogers. “Together we have a business with an unparalleled track record with an even stronger offering for our clients”
Hugh Campbell comments “we are delighted that a highly successful TMT corporate financier such as Matt has decided to join us. Since 2002 we have been impressed by the high quality of his mandates, his industry-leading close rate and most importantly the reputation he has built up with both entrepreneurs and venture capitalists in the European technology sector. We look forward to closing deals together in 2007.”
15th January 2007 -- GP Bullhound advises Birdstep Technology ASA on its acquisition of Aramova Inc.
Posted On: 2007-01-15 23:39:13
GP Bullhound, the specialist technology investment bank, has acted sole advisor to Oslo, Norway based Birdstep Technology ASA in its acquisition of Silicon Valley, US based Aramova Inc. The transaction successfully closed on Friday January 12th 2007. The acquisition further reinforces Birdstep’s leading market position as a seamless connectivity and mobility client software provider by adding stronger relationships with major European mobile operators.
Aramova also adds leading edge mobility software technology and an R&D centre in San Francisco, California. “The market for connectivity and mobility solutions has become a mass-market opportunity, and the acquisition of Aramova Inc. strengthens Birdstep’s market leading position in Europe and enhances our North American ambitions, according to Petri Markkanen, CEO of Birdstep Technology. Mr. Markkanen further commented that “We have been very pleased with GP Bullhound’s close involvement in this transaction. Beyond identifying the opportunity, GP Bullhound’s in-depth understanding of the communications software markets globally and first class execution ensured an efficient and smooth acquisition process.
12th December 2006 -- GP Bullhound advises Passado on its €10 million fundraising
Posted On: 2006-12-12 14:23:18
GP Bullhound, the specialist technology investment bank, today announces the completion of a €10,000,000 financing round for Passado.com, one of Europe’s largest social networking sites. The oversubscribed funding round was lead by US based Tudor Investment Corporation, with continued participation from existing investor DFJ ePlanet Ventures (who have also backed significant and successful companies such as Skype and Baidu). This investment represents one of the largest in a European social networking business.
Headquartered in London, Passado offers a rich pan-European social networking service with blogs, photo sharing and personal websites in Germany, France and Spain. The UK site will be formally launched in early 2007.
Passado differentiates itself from other social networking sites by offering a ‘trusted community’ of adults connected to each other through their former schools, universities, workplaces or through their hobbies and interests.
With over five million registered users, the investment will allow Passado to accelerate its growth in Europe via new product initiatives, marketing and new site launches in the UK, Russia and Italy.
This transaction is GP Bullhound’s 10th successful completion in 2006, representing over $150m of capital raised for companies and returned to shareholders in the European technology and digital media markets so far this year.
19th October 2006 -- GP Bullhound advises spodradio on its $10 million Series B funding from Benchmark Capital and Baytech Venture Capital
Posted On: 2006-10-19 14:22:37
GP Bullhound, the specialist technology investment bank, today announces the completion of a financing round for spodradio, the first worldwide radio and podcast hub for mobiles. The company raised $10 million of Series B funding from Benchmark Capital Europe, the top-tier venture capital firm behind eBay, Betfair and Bebo, together with Baytech Venture Capital. Baytech is a Munich-based VC firm which backed spodradio in Series A funding with $2.4 million in 2005.
spodradio was exclusively advised by technology investment bank GP Bullhound. Mikko Linnamäki, CEO of spodradio, said: "the GP Bullhound team’s strong knowledge of mobile communications combined with their investor network enabled us to run a very swift and competitive process. We regard them as one of the leading advisers in Europe in this sector."
The funds will be used to accelerate spodradio’s expansion into international markets and help develop new services, establishing spodradio as the world’s leading provider of mobile radio applications.
By intelligently organizing an ecosystem of content, radio providers, mobile operators and handset manufacturers, spodradio exploits the gadget consolidation trend. It enables the mobile phone to become the ultimate music device with a total radio experience anywhere and anytime, including live interactive radio, podcasts, personalized radio and on-demand radio services.
spodradio, developed by Liquid Air Lab, won the ‘Best of Show’ award last month at the Podcast and Portable Media Expo in California and was awarded the German Multimedia Award (DMMA) for the ‘Best Mobile Application’ earlier this year.
This transaction is GP Bullhound’s 9th successful completion in 2006, representing over $140m of capital raised for companies and returned to shareholders in the European technology and digital media markets so far this year.
2nd October 2006 -- GP Bullhound advises Press Holdings on its sale of Handbag to The National Magazine Company
Posted On: 2006-10-02 23:39:55
GP Bullhound the specialist technology investment bank, today announces that it has advised Press Holdings, which is controlled by Sir David and Sir Frederick Barclay, on its sale of the leading digital publishing group Handbag.com Ltd to The National Magazine Company, Hearst Corporation's principal business in the UK.
The Handbag.com Ltd network generates over 30 million page impressions per month and has been attributed as the leading force in encouraging women's magazine advertisers to use the internet for display advertising. The Handbag group publishes four female targeted websites; getlippy.com aimed at 18-24 year old women; allaboutyou.com for 35+ women; gomamatoday.com a specialist pregnancy and birth site; and the core website handbag.com itself.
18th September 2006 -- Analog Devices Acquires Danish Audio IC Specialist, AudioAsics
Posted On: 2006-09-18 23:40:28
GP Bullhound and GP Technology Partners, the technology investment banking group, today announces that it has advised Denmark based AudioAsics, on its sale to Analog Devices Inc. (NYSE: ADI). AudioAsics was founded in 2003 as a privately held company in Roskilde, Denmark, with funding from Danish investors Vaekstfonden, SEED Capital Denmark, and Hvista.
AudioAsics makes low-power microphone and audio signal conditioning technology. Analog Devices said the acquisition will help it develop its low-power audio capabilities and expand its presence in the Nordic and Eastern European regions.
3 August 2006 -- SealedMedia, the Digital Rights Management software vendor, is sold to Stellent
Posted On: 2006-08-03 23:41:08
GP Bullhound and GP Technology Partners, the technology investment banking group, today announces that Stellent, Inc. (Nasdaq: STEL), the global provider of content management software, has agreed to acquire US/UK based SealedMedia, the Enterprise DRM software vendor.
The company was founded in 1996 and was funded by investors including 3i, Crescendo Ventures and Pond Ventures. The acquisition will position Stellent as the leader in the content security market.
22nd May 2006 -- GP Bullhound advises on the sale of the Amerindo Internet Fund and Emerging Technology Portfolio to Saints Capital and Willowridge Incorporated
Posted On: 2006-05-22 23:41:40
GP Bullhound, the specialist technology investment bank, announces that it has completed the sale of the entire portfolio of unquoted investments and certain restricted quoted investments of Amerindo Internet Fund PLC (“AIF) and Emerging Technology Portfolio (“ETP) to funds managed by Saints Capital and Willowridge Incorporated for cash. AIF and ETP had investments in a large number of unquoted technology businesses covering sectors such as communications software, IPTV, online advertising and Wi-Fi infrastructure.
Saints Capital, based in San Francisco, is a leading global acquirer of direct venture capital and private equity investments on a secondary basis. Willowridge Incorporated, is managing its fourth fund dedicated to purchasing limited partnership interests in venture capital, buyout, and other private equity funds as well as secondary direct investments.
3rd April 2006 -- GP Bullhound completes £3.5m private placement for enterprise mobility solution provider Blackbay Ltd
Posted On: 2006-04-03 14:18:34
GP Bullhound, the specialist technology investment bank, today announces the completion of its third private placement of 2006, a £3.5m financing round for Blackbay, a provider of real-time mobile worker solutions.
Blackbay has operations in London, New Zealand, Australia and Singapore and raised the development capital from Close Venture Management. The capital raised will be used for product development and to fund the company’s sales and marketing drive.
Blackbay is a market leader in the rapidly growing enterprise mobility market, delivering mobile data solutions for over 12 years to a growing list of premium clients. Current customers include Parcelforce, Dyson, and Konica Minolta.
Managing Director of Blackbay, Larry Klimczyk, commented “The professionalism and speed to deliver in our complex cross- border transaction, places GP Bullhound as a truly ‘trusted advisor’ for our business.
30th March 2006 -- GP Bullhound completes private placement for TXT4
Posted On: 2006-03-30 14:17:51
GP Bullhound, the specialist technology investment bank, today announces the completion of a financing round for TXT4, a provider of automated advertising response management. Oxford Capital Partners and Noble Fund Managers have invested following an investment from the Capital Fund in December 2005.
TXT4 is focused on effectively managing advertising response: extracting the important elements of a consumer's response; validating, formatting and enriching this data; and passing it securely to their clients. The London-based company was founded in 2002 by James Critchley and the investment will enable the company to grow sales and marketing as well as expanding in mainland Europe.
Tim Carrigan, CEO at TXT4 commented "We have been impressed by the time and effort that senior Partners at GP Bullhound have committed to getting this deal closed. We are looking forward to working again with them in the future."
Stuart Nicol, Investment Manager at The Capital Fund, commented: “We have now invested in GP Bullhound's clients on more than one occasion. Due to their ability to both source high quality technology dealflow and work tightly with their clients through to completion we regard them as one of the leading technology advisers in the venture capital market. We look forward to doing more deals with them in the future.
21st February 2006 -- GP Bullhound advises communications software provider Hotsip AB on its sale to Oracle
Posted On: 2006-02-21 23:42:24
GP Bullhound, the specialist technology investment bank, today announces that Oracle Corporation (Nasdaq: ORCL) has entered into an agreement to acquire Sweden-based HotSip AB. HotSip is a provider of telecommunications infrastructure software. GP Bullhound acted as exclusive financial advisor to Hotsip in the transaction. "The addition of HotSip's technology will allow Oracle to build on its leadership in middleware and in carrier-grade communications infrastructures," said Thomas Kurian, senior vice president, Oracle Server Technologies.
HotSip is a provider of telecommunications infrastructure software and Session Initiation Protocol (SIP) enabled applications for IP telephony, presence, messaging and conferencing on new converged networks. With the addition of HotSip's technology, Oracle will be better able to build on its leadership in middleware and in carrier-grade communications infrastructures. Hotsip was founded in 1999 by Jens Lundström and Johan Liseborn. Among Hotsip's customers are: TeliaSonera, Telenor, Ericsson, HP and Nokia.
8th February 2006 -- GP Bullhound completes $30m private placement for communications software provider Apertio
Posted On: 2006-02-08 14:16:15
GP Bullhound, the specialist technology investment bank, today announces the completion of a financing round for Apertio, the leading independent provider of subscriber-centric networks. The $30 million Series B funding round was closed with existing investors: Add Partners, DVC Deutsche Venture Capital, Eden Ventures, Motorola Ventures and The Tokarz Group. T-Mobile Venture Fund, managed by T-Venture, the venture arm of Deutsche Telekom, also joins the round after the adoption of the Apertio One-NDS (Network Directory Server) by T-Mobile.
This investment, secured late last year, represents one of the largest funding deals of 2005 in the European technology sector. It delivers the catalyst for Apertio to fulfil the strong global demand for its unique Apertio One network infrastructure software, and provides a clear path to a full Initial Public Offering.
Apertio offers a unique alternative to the high cost and complexity inherent in telecoms' core network infrastructure, delivering proven reductions in capital and operational cost by as much as 50 percent, increasing revenue potential by slashing new service roll-out time from 12 months to 12 weeks, and building the foundation for convergence into fixed and mobile networks today.
“Apertio has had a tremendously successful 2005, more than doubling revenue, and securing over 10 new operator customers, said Paul Magelli, CEO at Apertio. “This investment round is proof of the clear market demand for our Apertio One portfolio, and a reflection of our investors faith in our continued rapid growth. I am particularly pleased to welcome T-Mobile Venture Fund as a new investment partner, following our success with T-Mobile in Europe.
Apertio customers already number among the largest and fastest growing telecommunications operators in the world, and include: T-Mobile, Orange, Vodafone and AIS.
18th November 2005 -- Doughty Hanson Invests in Handmade Mobile
Posted On: 2005-11-18 14:15:33
GP Bullhound the specialist technology investment bank, today announces the completion of a financing round for Handmade Mobile Entertainment Limited.
The company was formed by a high profile management team including Avi Azulai, co-founder of iTouch, one of Europe’s leading mobile entertainment companies which was sold earlier this year to Forside.com for £180m, and Mark Curtis, a former managing partner of Fjord. Handmade Mobile provides consumer applications for mobile phones and will aim to capitalise on the shift in value creation in mobile data services from the corporate to the consumer market. Handmade’s first commercial service is Flirtomatic – an entertainment service that is available on mobile phones and over the web.
Latest figures from Mintel estimate that the mobile content industry alone will be worth £740 million by the end of the year, a substantial increase from £40 million in 2002. The financing for the company was provided by leading venture capital firm Doughty Hanson Technology Ventures.
Avi Azulai, commented:
“GP Bullhound was key to closing this transaction. The team's network of international VC's, structuring expertise and commitment was first class. The best advisors I have used in this sector.
Ivan Farneti, a partner at Doughty Hanson Technology Ventures, added:
“Handmade’s innovative technology allows every phone, not only the most advanced smart phones, to have a very rich media experience. Handmade Mobile’s model is validated and it works worldwide. Big brands and top UK media partners have already shown positive interest in developing business models with Handmade Mobile.
6th October 2005 -- Nordic Trio Invests in TFS Technology
Posted On: 2005-10-06 14:09:48
Three leading Nordic venture capital companies have invested $5.3 million in the software company TFS Technology, a leader in Identity and Access Management for large companies with stringent security requirements.
Uppsala, Sweden and Herndon, VA - October 6, 2004. Northzone Ventures, IT Provider and Eqvitec have signed an agreement to invest $5.3 million in TFS Technology.The investment is one of the largest thus far in Swedish IT industry in 2004.
"We look forward to developing TFS’ significant business potential in the international IT security market. TFS has delivered systems to several of the world’s largest banks and institutions in both the USA and Europe. TFS’ customers are very pleased with the user-friendly core product, BoKS™, which delivers Identity and Access Management solutions to primarily large company’s system environments. TFS is now well positioned for a global sales expansion," comments Pär-Jörgen Pärson, Chairman of the Board and Partner in Northzone Ventures.
TFS’ business concept is to offer solutions that enhance, simplify, and protect companies and organizations’ existing infrastructure. TFS solutions for administration and security in a heterogeneous Unix and Linux environment have aroused a great deal of interest and are in operation today at several of the world’s largest companies.
Identity and access solutions (Identity and Access Management) are one of the fastest growing areas within the IT sector. IDC estimates the market for this sector will grow 15 percent every year, and that sales of products and services will pass the $5.1 billion mark in 2007.
"This investment means that we receive both the capital and entrepreneurial experience that will make it possible for us to expand our operations in a number of strategic markets. We also receive a strong financial footing, which is a requirement for working with the world’s largest companies," said Krister Fransson, CEO for TFS Technology.
GP Bullhound Ltd acted as a financial advisor to TFS Technology during this investment phase.
18th July 2005 -- GP Bullhound completes private placement for Zensys
Posted On: 2005-07-18 14:14:54
Zensys secures a $16m round for market development and R&D, led by Bessemer Venture Partners.
GP Bullhound today announces the completion of its 4th successful transaction of 2005 and its 36th transaction since its foundation in 1999. The specialist investment bank arranged a US$16 million private placement for Zensys, a leading provider of wireless networking technology. The funding round, which is one of the largest done for a European company in the past 12 months, was led by Bessemer Venture Partners, the longest-standing U.S. venture capital operation with more than US$1bn under management. Other participants in the round include Zensys’ first-round venture capital partners, Palamon Capital Partners, and Vaekstfonden, the Danish growth fund.
“This third round of funding is a strong statement about the confidence investors have in our product, vision and team and a validation of the success we have achieved to date, said Per Nathanaelson, Zensys’ President and CEO.
“We are investing in Zensys based on its proven and widely accepted wireless home control technology, as well as its ability to secure support throughout the industry and continually produce more efficient and more cost-effective Z-Wave chips, said Bob Goodman, managing partner at Bessemer Venture Partners. “Zensys is clearly a company poised for significant continued growth, he added. Mr Goodman is joining the Zensys board of directors as his first European board position.
GP Bullhound acted sole advisor on the transaction, further demonstrating the firm’s success in driving cross-border technology private placements and its strong commitment to the US market.
8th July 2005 -- GP Bullhound completes private placement for Mtivity Ltd
Posted On: 2005-07-08 14:14:19
Mtivity poised for Growth after Securing £1.5 million through Albany Ventures and The Capital Fund.
GP Bullhound today announces the completion of its 3rd successful transaction of 2005 and has closed over 30 transactions since its foundation in 1999. The technology investment bank arranged a £1.5 million private placement for Mtivity Ltd, a leading provider of marketing management software to companies and media agencies. The funding round was led by Albany Ventures, the specialist earlier stage technology investor, and included follow on investment from The Capital Fund, a £50 million venture capital fund which backs fast-growing, small and medium-sized enterprises in Greater London.
Mtivity’s new chief executive, Patrick Kremer said:
“We are delighted to have secured this important capital injection from Albany Ventures and The Capital Fund. This is the second time that I have worked with the team at GP Bullhound and once again I have been delighted by the high quality of the investors they introduced, their skill at issue resolution and their commitment to driving all parties towards a successful closing.
Founded in 2000 by Matthew Atkinson, a serial entrepreneur, Mtivity has rapidly established itself as a leading player in the emerging field of Marketing Resource Management. The company’s innovative on-demand software provides simple, cost-effective ways for marketing departments and their agency and print suppliers to collaborate on campaigns and improve brand control.
Hugh Campbell, Partner as GP Bullhound said:
“We have been working closely with Mtivity for nearly two years during which time we have secured two rounds of funding, initially with The Capital Fund and more recently with Albany Ventures. Furthermore, I am delighted that our introduction to Patrick Kremer has been beneficial with his recent appointment as Chief Executive.
GP Bullhound Ltd acted as a financial advisor to Mtivity during this investment phase.
7th April 2005 -- Bullhound & GP Capital Merger
Posted On: 2005-04-07 09:26:18
TECHNOLOGY RESEARCH AND ADVISORY FIRMS GP CAPITAL AND BULLHOUND MERGE; COMBINATION CREATES LEADING SOFTWARE AND SERVICES FOCUSED INVESTMENT BANK
Bullhound and GP Capital today announced a merger that will create a research and advisory house focused exclusively on the software and IT services sector. The combined company will be named GP Bullhound Limited and will provide technology research, private placement and M&A advisory services to entrepreneurs, venture capitalists and institutional investors.
GP Bullhound provides technology entrepreneurs with a more effective way to access venture capital, enhance shareholder value and secure a successful exit. Furthermore, GP Bullhound provides investors and corporate buyers with unique access to the most interesting venture and public market investment opportunities in Europe and North America. “Entrepreneurs and investors are looking for an advisor who has a true understanding of their market. Our singular focus on software and IT services make us a valuable partner said Per Roman, co-Founder and CEO of Bullhound Ltd. The entrepreneurial team has injected a breath of fresh air into the corporate finance sector and is poised to take advantage of improved valuations for technology companies which is driving both entrepreneurs and venture capitalists back into the market. “To be effective as an advisor it is our belief that industry knowledge, access and transaction expertise are extremely important.
The seniority and experience of the combined team provides a fantastic platform for further growth? said Hugh Campbell, co-Founder of GP Capital. The merger will also see the appointment of a new Chairman. Martin Smith joins GP Bullhound with a 30 year career history dedicated to Investment Banking. Martin was a founder and Chairman of Phoenix Securities and following the sale of Phoenix Securities to Donaldson, Lufkin & Jenrette, he became Chairman of their European Investment Banking Group. Current roles include Deputy Chairman of New Star Asset Management and being Chairman of English National Opera. Martin Smith added: “I’m very excited to be joining such a dynamic company. GP Bullhound has shown they have great potential and I am looking forward to helping extend their presence in this niche area of investment banking.
Current and future clients of GP Bullhound will benefit from access to:
*Software and IT services research with particular emphasis on communications, security, entertainment and new media
*Proven service in European venture-backed private placements
*Relationship and knowledge driven approach to technology M&A
*Valuable IT-focused CEO/CIO contacts and investor network in Europe and the USA
*Innovative industry events such as Investor Allstars and Media Momentum
In 2004 GP Bullhound completed 10 deals, 7 private placements and 3 M&A mandates. Already in 2005 the firm has completed two transactions.
11th March 2005 -- Kingston Communications PLC Acquisition of Technica UK Limited
Posted On: 2005-03-11 23:43:56
Kingston Communications (HULL) PLC today announces the acquisition of Technica UK Limited, a leading supplier of network storage services in the UK. Technica is one of the UK's largest independent storage consultancies. It employs a team of 30, who work with key strategic partners to provide a range of specialist services including analysis, design, implementation and management of customers' storage solutions.
Technica has built a strong relationship with the Omnetica Group, recently acquired by Kingston, and as an independent consultancy, has Partner relationships with leading Storage Technology vendors, including EMC, Dell, HDS and Veritas. The initial consideration of GPB3.5 million will be satisfied by the payment of GPB2.1 million in cash with the balance through the issue of 1,986,779 new shares in Kingston. Additional consideration, up to a maximum of GPB3.0 million, is payable based on future performance over the two years to March 2007. Application has been made for the shares to be listed.
Commenting on the acquisition, Malcolm Fallen, Chief Executive, said: "The acquisition of Omnetica combined Kingston's capabilities in carrier services with Omnetica's skills in IP, network services and enterprise data. Technica now strengthens a key area for us, bringing a unique set of market leading skills in the fast growing UK storage market, thus deepening our business-to-business service proposition".
4th February 2005 -- Media Momentum Awards ranks the UK’s most Dynamic Media Companies
Posted On: 2005-02-04 23:51:26
GP Capital announced today the 50 fastest growing media companies in the UK at their Media Momentum awards, held in association with the Barclays Media Team and Olswang. Additional awards were given to 5 “Media Momentum Stars showing exceptional growth potential and management. Ranked according to annual revenue growth rates between 2002-2003, Espotting emerged in the pole position - as the fastest growing and most dynamic media company in the UK . The remaining top 5 companies in descending order of growth were Macrospace, Optimad Media Systems, Aura Sports and IBN.
Espotting also won one of the 5 “Media Momentum Stars awards, judged by a panel of industry experts including Robert Leach, the Head of Interactive BSkyB, Nick Horswell, the Founder of PHD and Jon Farley, the Head of the National Barclays Media SME team. Other winners in this category included, Inspired Broadcast Networks, Opera, Avanti and Zone Vison. The Judges choice for their overall winner of Media Momentum went to Inspired Broadcast Networks who has developed the world's largest digital jukebox with over 2.1 million tracks available.
GP Capital partner, Manish Madhvani, commented on the awards: “We are delighted to announce the top 50 as they not only represent the future of the UK media industry but are exciting examples of companies at the forefront of innovation. Despite a tough environment for the media sector, these 50 companies successfully grew their revenue base by an average of 149% in a 1 year period. It was interesting to see the list draw upon leading companies from areas as diverse as music album compilations and digital MP3 terminals to Chelsea FC’s media sales agency and leading international broadcasters. The results also indicate certain emerging industry sectors - internet advertising, and mobile content being ones to watch for 2005.
14th July 2004 -- GP Capital Structures Corporate Spin-out for Wi-Fi Leader, The Cloud
Posted On: 2004-07-14 14:09:05
GP Capital today announces the completion of its 5th successful transaction of 2004. The specialist corporate finance advisor arranged one of the largest deals to date in the UK Wi-Fi sector. The financing for the spin-out of The Cloud™ from Inspired Broadcast Networks (Inspired) was provided by leading venture capital firms, Accel Partners and 3i.
George Polk, Managing Director of The Cloud™ said: "GP Capital was key to closing this transaction. The team’s structuring expertise & commitment to getting the deal done was first class."
GP Capital was engaged by Inspired to advise on the complex spin-out of The Cloud. This involved a number of distinct phases:
*Preparation of financial model and business plan with The Cloud’s senior team
*Project management of the due diligence process to ensure both 3i and Accel received the necessary financial, legal and commercial information at the right time
*Brokering the resolution of outstanding commercial and legal issues
*Expectation management of Leisure Link, Inspired’s parent, as well as their financial backer, Henderson Private Equity.
*Completion of two key legal documents; firstly the asset transfer agreement which details the assets, people and IP that spun out of Inspired; and secondly the
*commercial agreement which articulates the ongoing terms between The Cloud and Inspired.
*Corporate tax structuring with PwC to ensure that the corporate structure adopted by The Cloud provided Inspired with the most tax-efficient solution. The final structure required Inland Revenue approval.
*Personal tax structuring for management alongside PwC
Luke Alvarez, Co-CEO of Inspired said: "Brokering a deal between three parties with different agendas is never an easy task. GP Capital has had to wear many hats during this transaction and struck the right balance between playing the "honest" broker and fighting our corner. We have been impressed by the ‘street fighter’ attitude of the GP Capital team."
The Cloud™ delivers high speed, omnipresent, secure and affordable Internet access to the general public. It is Europe's largest, fastest growing and most sophisticated public access wireless LAN (also called "Wi-Fi") network. The Company also supports the highest levels of reliability and security, and constant upgrades that allow the network to run the latest generation of security, air interface standards and emerging applications like voice-over-WiFi.
Stuart Chapman, Technology Director at 3i, comments: "The Cloud is a perfect example of the kind of fast growing, dynamic company that we back as part of our venture capital business. We have enjoyed working with GP Capital over the last six months and have been impressed by their non-confrontational approach and responsiveness. We look forward to working with them on more deals in the future."
Finally, Hugh Campbell, Director of GP Capital added, "This deal required complex and precise structuring in order for the spin-out to be a success for all three parties. We are delighted to have been able to contribute to the launch of this new phase for The Cloud™."
1st July 2004 -- GP Bullhound advises Lastminute.de Group on its sale to lastminute.com to create the number one online travel brand in Germany
Posted On: 2004-07-01 23:44:33
lastminute.com plc, Europe's leading independent online travel and leisure group, today announces the acquisition of the lastminute.de group of companies in Germany, which comprise Anixe Systems GmbH, Avinex AG and Cinetic Internet Touristik GmbH to create the number one online travel brand in Germany.
The lastminute.de group of companies offers online access to package holidays and flights to German consumers to all popular travel destinations including Spain, Turkey, The Dominican Republic, Cuba and Egypt. Passenger numbers in the business have been growing since 2001 and during the year to 31 December 2003 total transaction value (TTV) amounted to €49.3 million from 115,000 customers.
In addition to the lastminute.de name, the acquisition includes the ownership of the domain name lastminute.tv, which will be initially licensed to a small independent tv operation. This operation is not being acquired as part of this transaction
With offices in London andSan Francisco, GP Bullhound is a leading investment banking firm providing advice on mergers & acquisitions ...Read more »
