Howard Kennedy acts on sale of Rewind Festival, Boardmasters, Field Day and South West Four festivals
Law firm Howard Kennedy has advised Impresario Festivals PLC on the sale of its four successful festivals - Rewind, Boardmasters, Field Day and South West Four - to media and entertainment group Global.
The sale of the four festivals was completed in early October 2016 and will effectively double shareholder value for the original investors in the company. Impresario will continue to provide strategic and management advise to the festival operators until April 2017.
Howard Kennedy worked with the team to establish Impresario in 2013 which raised some £9m under the EIS. In 2013, Howard Kennedy also helped Impresario purchase the Rewind festival, and in 2014 the purchase of Boardmasters and South West Four.
Following the sale of its four festivals, Impresario is now looking to acquire further festivals with potential for growth.
At the same time, the team behind Impresario has just launched a new venture, Edition Capital, which has kicked off with its first product, an EIS Fund which will invest in small companies with growth potential in the media and entertainment sector.
Global was advised by Mills & Reeve.
We have worked alongside the team at Impressario for the past three years. It has acquired and created four hugely successful festivals, and their sale has delivered impressive returns for investors – doubling their initial investments. It is now actively looking to purchase festivals with potential.
About Howard Kennedy
Howard Kennedy has 53 partners and numbers 350 people in total and works alongside national and international clients across many disciplines, including banking, corporate and commercial, family, finance, employment, dispute resolution, intellectual property, private client, real estate and tax. Howard Kennedy has particular focus on the Financial Services, Media and Technology, Real Estate, Retail and Leisure, Sports Individuals sectors.
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