Lewis Silkin advises Be Heard Group PLC Management on their takeover offer from MSQ Partners Ltd
25 June 2020
Be Heard Group PLC has agreed to a GBP6.2 million takeover offer by marketing communications group MSQ Partners Ltd, in a deal which makes the group better placed to win more and larger clients both within the United Kingdom and internationally, particularly in North America and Southeast Asia.
The acquisition is conditional on gaining at least 75% in shareholder approval at the upcoming scheme meeting and court meeting, as well as being sanctioned by the High Court of Justice in England & Wales.
Be Heard has around 240 staff in MMT Digital (tech and digital transformation), Freemavens (data analytics/insight) and Agenda21 (digital media) based in London and Uppingham that would transfer over to MSQ. Key clients include Vodafone, Unilever and GSK.
MSQ has around 525 people across a number of international offices and operates six agency brands: Holmes & Marchant (branding and design), Smarts (PR and content), Stack (customer acquisition and engagement), Stein IAS (B2B marketing), The Gate (creative and media) and twentysix (digital). Key clients include Unilever, Peugeot, Nestlé and HM Government.
Lewis Silkin’s team was led by corporate partner Sam Pennington and tax partner Matthew Rowbotham supported by corporate associate Joe Lythgoe.
Ben Rudman, COO of Be Heard and co-founder of MMT Digital, says:
“We have worked with the fantastic Lewis Silkin team for many years and it is fitting that they were on hand to advise the management team during the takeover process with MSQ. This deal presents an opportunity for us to grow and invest in our agencies, while exploring ways of bringing even greater value to our existing clients and access to potential clients both in the UK and overseas, and we look forward to working with Lewis Silkin again.”
Sam Pennington, corporate partner, says:
“I’m delighted to have been able to support Ben and the team in this exciting time for Be Heard and MSQ. Lewis Silkin are ideally placed to advise on deals of this nature thanks to our market-leading work in the advertising, marketing and technology sectors and experience acting for buyers, sellers and management teams.”