February 5, 2019
Willkie advised client Permira Debt Managers on the unitranche financing for the acquisition of Massive Inc.
Willkie advised Permira Debt Managers on the financing of the Deltatre group’s acquisition of Massive Inc.
Permira Debt Managers, through their funds, provided unitranche financing in order to facilitate the acquisition of the Massive Inc. group by Deltatre (a portfolio company of Bruin Sports Capital) and refinance its existing debt. Additionally, Permira provided Deltatre with an acquisition facility to support future growth. The financing also included super senior funding provided by certain banks.
The new group is expected to be valued at approximately $1bn, bringing together Massive’s “next-generation user interface” with Deltatre’s video streaming capabilities, making it the biggest over-the-top (OTT) provider to sports companies.
PDM is an asset management company owned by its partners and focused on investing in private credit. PDM seeks to provide credit solutions to successful, medium-sized European businesses. Since inception in 2007, PDM funds have provided over €6.9bn of capital to over 120 businesses in 12 European countries., supporting companies across diverse industries from publishing, theme parks, cinemas and restaurants, to industrial gears, software providers, sofa retailers and aerospace suppliers.
Massive enables media companies to deliver targeted content and personalized user experiences to specific user groups across devices, in real-time, helping accelerate growth and increase retention across the customer lifecycle. Massive launched 22 years ago and has over 350+ staff across its London headquarters and Sydney, Prague, Singapore, Skopje, and New York offices. Deltatre is an international leader in sports media technology services, including OTT, CMS, and digital platform production, virtual broadcast studios featuring state-of-the-art VR and AR capabilities, broadcast graphics, content and data creation and real-time distribution.
Willkie’s cross-border team included partner Mark Fine and UK partner Aymen Mahmoud in the London office and was supported by the New York, Frankfurt and Milan offices.