Archive for the ‘Exits’ Category

The North West Fund for Digital & Creative achieves first exit – sale of Adaptis Solutions Limited

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The North West Fund for Digital & Creative is pleased to announce the successful disposal of Adaptis Solutions Limited, a business which provides a range of parking services, including electronic parking permits, automatic number plate recognition systems for car parks and penalty charge notices.

The North West Fund for Digital & Creative invested £250,000 in Adaptis in June 2012, and has achieved a 2.4x cash-on-cash return for its investors, representing an IRR of 70%.

Manni Marway, founder and CEO, said: “The North West Fund for Digital & Creative has been a pro-active and supportive shareholder since its involvement in 2012 and I am delighted their investment and advice has been rewarded with a successful exit.”

The sale represents the first exit for The North West Fund for Digital & Creative and the first cash realisation for the equity side of The North West Fund.

David Smith, Investment Director, AXM Venture Capital, which manages The North West Fund for Digital & Creative, said: “We are delighted to have demonstrated our ability not only to identify and nurture successful growth businesses, but also to achieve a profitable exit: this realisation provides additional finance for the legacy fund which will invest in future generations of North West businesses.”

The North West Fund for Digital & Creative is part of The North West Fund and is financed by the European Regional Development Fund and the European Investment Bank.

Channelflip acquired by News Corporation’s Shine Group

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Channelflip, the UK’s leading producer of short form programming for the internet, has been acquired by Shine Group, the television production company founded by Elisabeth Murdoch and owned by News Corporation.

As part of Shine Group, the Channelflip team will continue to produce original content for online platforms. With its experience in building brand partnerships and online communities, Channelflip will work alongside Shine’s traditional production businesses, and bolster the group’s existing multi-platform and direct-to-consumer offerings. Terms of the deal were not disclosed.

Elisabeth Murdoch said: “Wil and Justin are true like-minded creative entrepreneurs and we welcome them and their team to Shine Group. They have built Channelflip into its leadership position through creative and commercial excellence, producing compelling and innovative online productions whilst persuading advertisers of the deeper relationships they can play within these.”

The Creative Capital Fund invested in August 2009 in Channelflip, which was founded in 2008 by Justin Gayner and Wil Harris. Channelflip has a stable of original productions, with a range of established TV talent, including Harry Hill, Richard Hammond and David Mitchell, and one of Europe’s largest premium YouTube networks with over 500 million aggregate views. It recently licensed 2,500 classic films from Studio Canal to use as short form clips.