Inspired Thinking Group (2014)
Catalyst advised the shareholders of Inspired Thinking Group (ITG) on the £28 million fundraising, backed by Bridgepoint Development Capital.
The Birmingham-based company provides a broad range of marketing services which helps marketing teams join up their production processes, take control of their data and work more effectively with their supply chain, delivering benefits in the form of reduced spend, greater efficiency and enhanced quality.
The business was established in 2009 to serve the growing requirement for marketers across all industry sectors to manage increasing channel complexity and increase their speed to market, whilst at the same time reducing expenditure and clearly demonstrating return on investment. Specialising in 'below the line' marketing activity such as point of sale, digital and direct marketing, ITG’s service capabilities include 24/7 multi-channel content production, digital marketing, packaging, local marketing and print management.
What difference did we make?
Having maintained a close working relationship with the business and shareholders since the first acquisition and fund raising, we were able to respond very quickly when the business received two unsolicited approaches from overseas buyers. Our initial role was to manage these discussions to establish whether or not they should be recommended to shareholders and alongside this role, we also investigated alternative deal approaches that could achieve the objectives of the different stakeholders.
This culminated in proposing a refinancing with new institutional funders. Our role included:
- Agreeing an outline deal structure with the existing shareholders, Livingbridge, and management
- Working with the management team to prepare the business for a transaction, including business planning and forecasting
- Identifying a short list of potential funders for the transaction
- Managing presentations and discussions with equity and debt providers
- Project managing the due diligence process
- Advising the management team on their reinvestment in the business going forward
- Supporting Bridgepoint and Lloyds Bank on their investment into Newco
The deal was successfully completed on the terms agreed with the parties at commencement and within the timetable agreed with the various different parties to the transaction. This is the third assignment we have completed with ITG.