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Goodman Derrick Acts For Chime Communications PLC
Goodman Derrick's corporate department continues to act for Chime Communications PLC on its buy and build strategy with a further two acquisitions completed in May.
Following on from the acquisition of The Complete Leisure Group Ltd, Lord Coe’s management company, Chime has acquired 100% of the share capital of People Marketing UK Ltd (‘PMUK’) a sports marketing and communications agency based in Shanghai previously owned by well-known South East Asian business woman Irene Cheung. Irene Cheung has joined the Executive Board of CSM Sport and Entertainment which is chaired by Lord Coe. The acquisition of PMUK follows the transfer of all Ms Cheung’s sports management related business activities in Mainland China, Hong Kong and the Far East, to PMUK. Initial consideration for the acquisition was HK$128 million (approximately £11 million).
Goodman Derrick has also recently completed on the acquisition of WARL Group Ltd (‘WARL’), a specialist “shopper” marketing agency which uses data collection and analytics to improve returns on investment in retail outlets. The initial consideration is £4.5 million with further deferred consideration dependant on performance. WARL clients include Tesco, McArthur Glenn and Proctor & Gamble.
Corporate partner Philip Langford commented:
“Goodman Derrick has advised Chime on 14 transactions in the past 15 months. We are delighted to be retained by such a high profile and ambitious company in relation to their global acquisition programme. These were two challenging acquisitions and we were delighted to achieve good results for Chime on both.”
Chime Communications PLC
Chime is an international communications and sports marketing group, which includes CSM, the VCCP partnership in advertising, the Good Relations Group in public relations, Open Health in healthcare communications, Teamspirit a specialist in financial and professional services and CIE the insight and engagement agency.
For more information about Chime please visit www.chimeplc.com.
For further information about Chime Communications PLC's acquisition of People Marketing UK Limited and WARL Group Ltd please visit www.chimeplc.com/announcements/acquisitions.
Goodman Derrick LLP’s Chime team
Experienced corporate partner Philip Langford manages Goodman Derrick's Chime service team.
Acquisition of PMUK Ltd on behalf of Chime was led by Philip Langford and fellow corporate partner Tanya Shillingford.
Acquisition of WARL Group Ltd on behalf of Chime was led by Philip Langford with senior associate Jessica Nugent.
Goodman Derrick's Corporate team advise FTSE-listed, national and international businesses, including many household names. They are recognised as leading lawyers by the independent guides to the legal profession, Chambers & Partners and Legal 500. The team of 14 lawyers, including 9 partners, are known for their commercial and nimble approach to delivering their clients’ transactions.
Goodman Derrick LLP
Goodman Derrick is a highly nimble City of London law firm with a team of 26 experienced partners and more than 30 lawyers, organised into specialist practices and sector groups.
“The kind of firm that gains your trust and never loses it.”
Chambers and Partners Guide to the Legal Profession 2012
If you require any further information please contact James Caulfield, Head of Business Development, Goodman Derrick at email@example.com or on +44 (0)20 7421 7968.