Mayfair acquires 60% stake in LoopMe

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Mayfair Equity Partners has bought advertising analytics software developer LoopMe at a valuation of around USD 200m.

LoopMe had revenues of USD 100m in 2021, having achieved growth of around 50% per annum for the past three years, according to the company. The majority of its revenues come from the US.

Filed accounts show that it was profitable in the full year 2020 (the latest full accounts available), with an adjusted EBITDA of USD 10.8m from USD 62m in revenues.

Mayfair acquired around 60% of LoopMe, having invested USD 120m at a USD 200m valuation. The company’s founders, Stephen Upstone and Marco van de Bergh, alongside wider management and existing institutional investors including BGF, will retain the rest of the ownership.

CEO Stephen Upstone said a lot of the growth has come from mobile video apps and more recently connected TV (CTV) advertising.

BGF led a USD 17m round for LoopMe in October 2018, following a EUR 3m Series A in 2014 led by Holtzbrinck and Open Ocean Capital.

Its venture investors also include HV Capital, Impulse VC, Claret Capital Partners, and Da Vinci Capital.

It will use the proceeds to expand internationally, specifically naming Japan, as well as bring new products to market.

The GP already has investments in digital media, including outdoors advertising agency Talon and children’s digital media platform SuperAwesome.

LoopMe is an outcomes-based advertising platform that leverages AI to optimise media delivery in real-time.

Its customers include brands, major holding companies and publishers such as Dentsu, Publicis, WPP, Omnicom, Pepsi, Microsoft, Sony Pictures, Hyundai/Kia and WarnerMedia.

Raymond James (corporate finance); Orrick Herrington & Sutcliffe (legal); PwC Strategy& (commercial due diligence); Intechnica (IT due diligence); BDO (tax); Deloitte.
Goodwin Proctor (legal); PwC (financial due diligence); BDO (tax); GP Bullhound (technology due diligence).

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