Mooreland Partners advises Telescope in its sale to Private Equity Consortium
Telescope Inc., the U.S. business of Harvest Media Group, has been sold to a management buy-out group backed by H.I.G. Growth Partners and Moorgate Partners.
In the U.K., Harvest Media provides voting and other marketing services to U.K. shows such as The X-Factor, Strictly Come Dancing and Britain’s Got Talent. In the U.S., Telescope is responsible for revolutionising television-audience participation and was first deployed for the worldwide reality-competition phenomenon, “American Idol.” Now, Telescope’splatform is viewed as the industry standard for TV and mass media live events. Telescope’s technology powers engagement across multiple platforms and connected devices, enabling brands to connect and interact with audiences and customers anywhere, anytime. Telescope works with a wide range of partners, including the world’s largest media networks and advertisers, the biggest social platforms and leading Fortune 500 companies.
Investors, led by FF&P Private Equity, the private equity business of Fleming Family & Partners, have nearly doubled their money, achieving a return of 1.9 times from their investment. The consideration for the sale is not being disclosed.
Telescope generates revenue for managing audience engagement and digital technology programmes for media and advertising clients, and its focus on technology and product innovation has resulted in an expanded client base and diversified revenue streams from transactions, technology licenses and professional services fees.
Edward Boddington, co-founder and CEO of Harvest Media said: “Harvest Media is a great example of a U.K. success story replicating success in the U.S. where we have led the market in participation TV now for several years. Audience interaction via social media channels such as Facebook and Twitter also offered new business opportunities through Telescope’s multi-platform approach. FF&P Private Equity has been our partner throughout the growth and we are delighted that the U.S. management team under the leadership of Jason George is going to take the business forward under new ownership.”
David Barbour, Co-head of FF&P Private Equity commented, “This was an investment originated by the FF&P network, having been introduced to us by a member of our Advisory Board.
“We quickly discovered a strong meeting of minds with the founders on the prospects of the then fledgling participation TV sector and together we have grown the business and its profitability, and brought in the next generation of senior management to take the business forward in the U.S. where the opportunities have been greatest. In a challenging exit environment, this investment represents an excellent return to our investors”.
Harvest Media was advised on the transaction by Mooreland Partners.
About FF&P Private Equity:
FF&P Private Equity is focused on investing in dynamic, growth companies in the UK lower-to-mid market. It invests between £3m – £15m in companies valued from £10m to £75m in a variety of situations including minority investments, management buyouts / buy-ins, development and replacement capital. Through its extensive network of contacts and working in partnership with its investors and portfolio companies, it aims to create market-leading companies that deliver superior returns to all shareholders.
FF&P Private Equity Limited is regulated and authorised by the Financial Services Authority. www.ffandppe.com