LONDON, UK: Miroma Holdings Limited (MHL) has reached agreement to acquire Miroma SET Limited (SET) in a £30 million deal.
The acquisition is intended to enable SET to become part of an organisation which will have the scale to accelerate the delivery of a shared strategic vision.
SET is a global audience engagement and amplification company built for an evolving media landscape. With over 100 years of experience in delivering commercial success for every creative venture it partners with across sports, entertainment and tech, SET combines industry-leading expertise with the latest data and technology to get audiences, fans and customers closer to their passions.
In particular, MHL believes that SET’s agencies will benefit from being part of a larger group, diversified across client verticals, and with seamless access to MHL’s digitally centric resources.
Furthermore, whilst SET and MHL share certain management team members, SET is expected to benefit from access to a broader management team with expertise across media, marketing, operational and administrative functions.
MHL believes that SET Shareholders will benefit from the ability to participate pari-passu with MHL’s shareholders in any future liquidity events, as part of a more diversified group with greater scale.
Furthermore, MHL believes that the combined group is expected to have better access to debt and equity capital to finance further growth as a function of scale and both customer and service diversification.
Commenting on the Acquisition, Lord Grade, Non-Executive Chairman of SET said: “SET has demonstrated considerable resilience since the impact of COVID-19 hit its activities within the live entertainment and theatre sectors, however uncertainties continue. The Independent SET Directors believe MHL is the right partner for SET and the Acquisition by MHL provides a strong fit and gives SET the opportunity to develop and deliver its growth plans within the MHL Group.”
Commenting on the Acquisition, Marc Boyan, CEO of MHL, said: “MHL has been a supportive shareholder of SET since 2017 and remains committed to bolstering its capabilities across its core offering to the sports, entertainment and technology sectors. We look forward to adding to our family of agencies and working together with the talented teams that comprise SET and who diligently service their respective clients.”
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