Acquisition of controlling interest in BCA

Acquisition of controlling interest in BCA

Next Fifteen Communications Plc

Next Fifteen Communications Group plc

Acquisition of Controlling interest in BCA

Next Fifteen Communications Group plc (“Next 15” or the “Company”) is pleased to announce the acquisition of a controlling interest in Blueshirt Capital Advisors LLC (‘BCA’), the tech focused capital markets advisory business.

In June 2016, the leadership team of Next 15’s Blueshirt agency and Next 15 agreed to create a separate but complementary business to Blueshirt, called BCA, which would play a much broader IPO advisory role for its technology clients than Blueshirt had historically played.

During this period BCA has successfully expanded its pre-IPO work to help companies maximise the value of their businesses. The paths to accessing public markets have evolved, particularly in the past 18 months. Already a leader in traditional IPOs in the technology sector, BCA has established a leadership advisory role in SPACs and Direct Listings. BCA has played a key strategic role in many of the largest and most significant transactions in the technology sector that have been publicly announced to date, both in the U.S. and internationally. BCA’s work is highly synergistic to that of Blueshirt as the combined companies offer clients a smooth path from life as a private company to the critical investor relations services required of public companies.

Next 15 initially owned 20% of BCA. As part of the shareholders’ agreement Next 15 had the option to increase its shareholding from 20% to 51%. in 2021, which it has today exercised. Next 15 has the option to increase its shareholding in BCA to 80% in two years’ time.

For the year ended 31 December 2020, BCA reported net revenues of $4.1 million and an operating profit before tax of $2.8 million. Next 15 will consolidate the financial results of BCA with effect from 1 May 2021, with a 49% minority interest. BCA will be included in Next 15’s Business Transformation segment.

Enquiries:

Next Fifteen Communications Group plc

Tim Dyson, CEO [phone]

Peter Harris, CFO [phone]

Numis

Mark Lander, Hugo Rubinstein [phone]

Berenberg

Ben Wright, Mark Whitmore, Arnav Kapoor [phone]

View source version on businesswire.com: https://www.businesswire.com/news/home/20210503005061/en/