Smyle sells majority stake to Rockpool Investments

Private equity firm Rockpool will become majority owner, with Smyle's management continuing to run the business.

From Smyle's work on the Ryder Cup
From Smyle's work on the Ryder Cup

Event agency Smyle has agreed an investment deal with Smyle Creative Group Ltd, a new holding company backed by private equity firm Rockpool Investments.

The Smyle management will continue to run the business and retain more than 40% of the new group holding company. Rockpool will become the majority owner. 

Chad Lion-Cachet, formerly of the Events International Group, has been appointed executive chairman of the group and has also made a significant investment. He has worked with Smyle previously and introduced them to Rockpool as a funding partner.

Rick Stainton, CEO of Smyle, said: "This is an exciting development in the Smyle journey and with Chad and Rockpool’s support, the board are excited to take Smyle to the next level.

"This is the right timing and perfect opportunity for the agency, as we all share the same vision and both Chad and Rockpool understand Smyle’s strengths across the business and want to build on them."

C&IT reported in March that Smyle was forecasting a 69% increase in turnover from £16.5m in the previous year to over £28m for its financial year ending 31st March 2018, with operating profit projected to rise to over £2.5m.

Founded by Stainton and Matt Margetson in 2003, Smyle employs 70 full time staff. Recent projects have included producing the opening and closing ceremonies of the Ryder Cup, international projects for Samsung and Salesforce, as well as Red Bulls’ Culture Clash at The O2.

 

For more features and breaking news sign up to C&IT Magazine's daily Newstracker here

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
London venues hosted 37% more events in 2018

London venues hosted 37% more events in 2018

Year-on-year increase from Unique Venues of London shows strong demand for events in the capital.

Why you should design human-centric experiences

Why you should design human-centric experiences

At EMEC19 in The Hague, Kim Myhre of MCI Experience gave an insightful talk on design-thinking in events.

New event producer for HGA

New event producer for HGA

Becky Jones-Williams has previously worked at Event Concept and will work for clients in a range of sectors.

Stagestruck adds event producer to team

Stagestruck adds event producer to team

Sarah Saward is joining the business as a group account director, with responsibility for a portfolio of blue-chip clients.

Incentive review: Club Med Plantation d'Albion

Incentive review: Club Med Plantation d'Albion

With dinner and champagne on a paradise beach, the white sands and the turquoise coral sea ocean of Mauritius are hard to beat.

Premier Events acquires Collective Minds

Premier Events acquires Collective Minds

Acquisition of Leicester-based events agency is part of growth plan to reach £5m turnover and 50 staff.

3 reasons to run wellness incentives

3 reasons to run wellness incentives

Endellion King, incentives account director at Top Banana, makes the business case for incorporating wellness into incentives.

'Procurement and events teams work best when they swap notes'

'Procurement and events teams work best when they swap notes'

Global procurement director of Knect365 Hetal Dassani talks to C&IT about how planners can build bridges for better buying.

ILEA members reveal 'shock' over Fyre Festival failings

ILEA members reveal 'shock' over Fyre Festival failings

Members of the International Live Events Association (ILEA) give their verdict on the event planning disaster of 2017, the Fyre Festival.

Case study: MAN's Apprentice of the Year Awards

Case study: MAN's Apprentice of the Year Awards

Venues and Events International organised an awards ceremony at Liverpool Football Club.

LATEST JOBS