Investment led by TowerBrook and FL Entertainment in The Independents
FR
Sycomore Corporate Finance acted as financial advisor to TowerBrook in the context of its investment alongside FL Entertainment in The Independents, a leading global marketing and communications group for luxury and lifestyle brands
The Independents Group (‘The Independents’ ‘the group’) announces a USD 400 million investment led by TowerBrook and FL Entertainment to accelerate its development and international expansion.
Rationale
The group has seen more than five years of strong growth since its creation in 2017, and now reaches a new milestone with this significant investment which will support the Company in realizing its ambition to more than double in size by 2025, through a strong acquisition strategy and dynamic international expansion.
Following the successful recent debt financing lead by BIL, Société Générale, LCL, La Banque Postale and CIC Private debt, the investment from TowerBrook and FL Entertainment finalizes The Independents’ USD 400 million fundraising. The partnership with TowerBrook – the London and New York-based international investment firm with strong experience in supporting companies with high growth potential – and FL Entertainment – a global independent leader in the entertainment industry with unparalleled expertise in bringing together entrepreneurs of the entertainment industry – will bring the financial backing and expertise necessary for The Independents to accelerate its growth trajectory, both organically and via an ambitious acquisition strategy. This new partnership will allow The Independents to further consolidate its position as a global communications, marketing and event management partner to the most iconic luxury brands in the world.
The Independents’ robust growth trajectory since its creation demonstrates the strength of its positioning as well as the success of its careful consolidation strategy, which offers its 380 top-tier clients unparalleled knowledge, access, and resources to execute relevant projects in localized markets around the world. This latest successful fundraising round will further cement the Group as a pioneer in brand positioning for luxury, fashion, design, lifestyle, hospitality, and the arts.
The Independents at a glance
The Independents is a global group of agencies for industry leaders across luxury and lifestyle, comprising Bureau Betak & Bureau Future, Karla Otto, K2, The Qode, Lefty and Prodject. The agency collective is powerfully positioned to offer streamlined strategy, creative, talent, influencer marketing, experiences and communications services for leading brands across key territories – (Milan, Paris, London, Munich, New York, Los Angeles, Hong Kong, Beijing, Shanghai, Tokyo, Seoul, Dubai, Riyadh)
TowerBrook is a purpose-driven, transatlantic investment firm that works to grow and improve large and middle-market businesses by partnering with management teams and employees to build excellent companies that make a positive impact on society. Since inception in 2001, TowerBrook has raised a total of $21.9 billion and invested in 90 companies on both sides of the Atlantic. TowerBrook operates as a single, unified team of experienced investment professionals focused on unlocking value in complex situations. The firm’s highly synergistic family of funds make control and non-control investments across the capital structure, providing capital and resources to transform the capabilities and prospects of its portfolio companies.
As a disciplined investor with a commitment to fundamental value, TowerBrook seeks to deliver superior, risk-adjusted returns to investors on a consistent and responsible basis. TowerBrook is the first mainstream private equity firm to be certified as a B Corporation. B Corporation certification is administered by the non-profit B Lab organisation and is awarded to companies that demonstrate leadership in their commitment to environmental, social and governance (ESG) standards and responsible business practices.
Founded by Stéphane Courbit, a 30-year entertainment industry pioneer and entrepreneur, FL Entertainment Group is a global leader in multimedia content and online sports betting and gaming, combining the strengths of Banijay, the world’s largest independent producer distributor, with Betclic Everest Group, the fastest growing online sports betting platform in Europe. In 2022, FL Entertainment recorded through Banijay and Betclic Everest Group, a combined revenue, and Adjusted EBITDA, of €4,047m and €670m respectively. FL Entertainment is listed on Euronext Amsterdam.