Per a press release from the companies, AAPC, a blank check company, has acquired TLA Worldwide plc for stock and cash consideration which has lead to a company with an estimated value of slightly greater than $200 million. TLA is a fully integrated sports marketing, management and events agency that provides sponsorship activation, sales, merchandising and media services to corporate clients.
TLA’s executive management team will remain in tact with the combined company, and TLA’s co-founders, Bart Campbell (Chairman) and Michael J. Principe (CEO) will be at the helm.
The combination of the two companies has significant benefits, including the expansion of TLA’s existing business in the United States and internationally.
“Our goal in creating AAPC was to identify a unique acquisition opportunity that would bring a proven, global company in Europe to the U.S. capital markets,” said Jonathan Goodwin, President and CEO of AAPC. “Sports is among the most valuable and fastest-growing forms of media, and TLA is well-positioned to continue growing.”
“Partnering with AAPC will also allow us to pursue our strategy of organic and strategic M&A expansion on a global basis to take advantage of a fragmented market in which to build upon our strong position,” said Bart Campbell, Chairman and Co-founder of TLA. “The TLA Board believes that the transaction will further strengthen the prospects for the TLA Group, creating a platform for future growth within the international athlete representation and sports marketing industries.”
For the full release, click here.