Case Study: Space and Time Ltd
- Deal size:
- Management Buy-Out
- Deal completed:
- July 2018
Meridian advised the Shareholders of Space & Time Media Limited (“Space & Time”) on a structured Management Buy-Out (“MBO”) funded by the company’s incumbent bank.
Space & Time are a multi-award winning, independent media agency who deliver effective, intelligent media solutions online and offline. The business has a national presence with offices in London, Bournemouth, Edinburgh and Manchester.
Space & Time’s existing top team delivered strong growth and created a vibrant corporate culture. The structured MBO effected the succession of the business to the new tier of management who are ‘home-grown’ talent with energy and ideas to continue the Company’s growth.
Peter Jones, Managing Director of Space & Time commented, “Our business thrives on the energy and dedication of its people. Meridian created a bespoke solution to transition ownership to those people as the management team of the future, while also rewarding existing stakeholders for the work and risk they have invested in the past. Meridian ran a highly professional process to implement this solution, coordinating with legal and banking partners to deliver an exciting step in Space & Time’s journey. We enjoyed working with them too, which is a must!”
Daniel Kirtley, Manager at Meridian commented, “It was a pleasure to work with the Space & Time team and we were delighted to find a solution that met the requirements of all those involved in this fantastic business.”
Funding was provided by Ali Trant and Dave Sinclair at Lloyds Bank plc. Legal advice was provided by Stephen Porter and Michael Patterson at Shoosmiths LLP.