ISIS Equity Partners, a lower mid-market private equity firm, has sold RLA Group, a marketing and communications group, to The Mission Marketing Group in a £20m (US$39.5m) deal.
The Mission Marketing Group will pay an initial consideration of £9.5, with a further £11.5m payable on performance criteria being met. Buckingham Corporate Finance, Burges Salmon and Pinsent Masons advised on the transaction.
The sale has generated a multiple of 3.7 times for ISIS, which invested £2.35m through its Baronsmead VCT funds in a £3.6m replacement capital deal with RLA in December 2002.
RLA is a full service marketing and communications group with 60 staff and clients including Direct Wines, Goodyear Dunlop, Kingfisher, Teleflorist and Volkswagen Group.