Multi award-winning event agency Smyle has agreed an investment deal by Smyle Creative Group Ltd, a new holding company backed by private equity firm Rockpool.
The deal sees Chad Lion-Cachet, formerly of the Events International Group, appointed executive chairman of the group.
Founded by Matt Margetson and Rick Stainton in 2003, Smyle has offices in Hertford, London and a satellite office in San Francisco.
It has grown into a leading creative agency delivering live and digital experiences to business and consumer audiences around the world, employing 70 full time staff with global brands as clients from sectors including the tech, media, IT, finance and pharmaceutical.
Key projects have included producing the Opening and Closing ceremonies of the Ryder Cup, international projects for Samsung and Salesforce, Red Bulls’ Culture Clash at The O2 and experiential projects at events such as the World Economic Forum in Davos, Mobile World Congress, and the UEFA Champions League Final.
Smyle is forecasting a 69% increase in turnover from £16.5m (US$22.5m) in the previous year to over £28m for its financial year ending 31 March 2018, with operating profit projected to rise to over £2.5m.
Chad Lion-Cachet has worked with the Smyle management previously while he owned Sportsworld and introduced Rockpool as the funding partner.
The Smyle management will continue to run the business and retain over 40% of the new group holding company. Rockpool will become the majority owner and Lion-Cachet has also made a significant investment in the new group.
Rick Stainton, CEO of Smyle, comments: “This is an exciting development in the Smyle journey and with Chad and Rockpool’s support, the board are excited to take Smyle to the next level. We are all committed to achieving our mission to become the No.1 creative agency in the UK.”
Chad and Rockpool recognise Smyle’s track record and unique positioning as one of the fastest growing agencies with a strong reputation for creativity and excellence in delivery, and the board are looking forward to working with them and realising Smyle’s full potential.”
Photo by Mike Ehrmann/Getty Images
