Advising on WestBridge’s exit from bChannels

Our client, private equity firm WestBridge, has exited its investment in marketing agency bChannels, after the business was acquired by US-based The Channel Company.

Our corporate team – comprising Tom Kelleher, Jordan Thomas, Cath James, and Evie Williams – advised all of the sellers – including WestBridge, the chairman and the management team – on the deal. The transaction marks the second successful exit for WestBridge in the last 12 months.

WestBridge originally backed the buyout of the global technology marketing agency in July 2014. Since then, WestBridge has worked closely with the executive team at bChannels to deliver a scalable and repeatable business model.

It bolstered the company’s senior management team with pivotal appointments, including the non-executive chairman, Richard Bandell; oversaw its geographic expansion; and transformed the company from a customised solutions provider to one offering a portfolio of modular, higher-margin services.

James MacLeay, Partner at WestBridge, said:

It was a pleasure to once again work with the Capital Law team. We’ve had the benefit of invaluable support and advice over a number of years, including in respect of this exit from bChannels. Capital assisted us and the wider sell-side team on the legal aspects of the deal, and we view them as a trusted and reliable adviser.

Tom Kelleher, Partner at Capital Law, said:

Working alongside WestBridge, Phil, Mark and the bChannels team since the MBO in 2014, we’ve had the benefit of seeing the business grow and this deal is a significant milestone reflecting their collective efforts since then. This deal is another example of another market leading UK business attracting the interest of a global PE backed business and we look forward to seeing what lies ahead for the new partnership between bChannels and The Channel Company.

Phil Gowing, CEO at bChannels, said:

WestBridge has genuinely been a partner in our growth story. They have been supportive and demonstrated a real understanding of the challenges that face a growing business. Their practical approach has added value to our development and, business matters aside, we have enjoyed working with them.

Read more about the deal here.

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