Top Story

e4m_logo.png

Home >> Digital >> Article

GSC gets funds for acquisitions in Australia and New Zealand

18-February-2017
Font Size   16
Share
GSC gets funds for acquisitions in Australia and New Zealand

Global Sports Commerce (GSC) and its affiliate Techfront International, a supplier of in-stadium LED screens as well as integrated sponsorship and digital solutions for sports and media events, have received funding to support acquisitions of Screencorp in Australia and Oled & Carniegie in New Zealand. BlackRock’s Private Credit team arranged sole financing for the combined transaction. Financial terms have not been disclosed.

The intended acquisitions will enable GSC to deepen penetration of the Australian and New Zealand digital sporting solutions markets while entering the fast-growing digital billboard sector. Techfront Australia, a subsidiary of Techfront International, enjoys market leadership in Australia and New Zealand as partner to the AFL, All Blacks, NZ Cricket, and in association with MKTG for Cricket Australia and BigBash League.

MS Muralidharan, CEO of GSC, said, “These acquisitions will facilitate deep engagement with sports for GSC and Techfront, and amount to a template for replicating a successful model throughout Europe and North America. BlackRock’s support provides Techfront with greater impetus, and contributes to the consolidation of sports commerce worldwide via use of technology such as Commerce Optimiser.”

Neil Maxwell, CEO of Techfront Australia, said, “The addition of these companies provides TFA with an unparalleled scale in the Australian and New Zealand markets. We are now able to cater to an increased number of sports and in the process, provide broader offerings along with an enhanced level of service.”

Neeraj Seth, Head of Asian Credit of BlackRock, commented, “GSC and Techfront’s dominant position in key cricket markets, plus growing involvement in football, rugby, tennis, and other sports, makes it an attractive investment opportunity. Private credit has become an important source of flexible capital for mid-market companies at a time when banks are being constrained from providing financing to Asian companies.”

He added, “BlackRock is well-positioned to provide companies such as GSC and Techfront with capital throughout multiple Asian jurisdictions. This enables such organizations to expand at the same time as allowing us to equip our investors with diverse sources of investment return.”

Tags

Abhishek Punia, Co-founder and COO of ARM Worldwide, tells about how they re-branded themselves from ARM Digital to ARM Worldwide and in the process marked their presence globally

Srinivasan opens up on what prompted their recent rebrand, their foray into bus depots and developing the software that displays Bengaluru Metropolitan Transport Corporation's (BMTC) Passenger Information System for all the major bus depots in Bangalore.

Software and Technology, Consulting, Healthcare seem to be increasingly using Webinars to engage with their clients and employees

Chandy indulges in his love for reading and learning something new over the weekends

Though revenue from media operations grew by 10.6% yoy to Rs 760.8cr, the film production revenue declined by 18.0% yoy

At the inaugural one-on-one session between Aroon Purie, Chairman & Editor-in-chief of India Today Group and Anurag Batra, Chairman & Editor-in-chief BW Businessworld & Exchage4media Group, Purie spok...

At the 11th Indian Magazine Congress in New Delhi Rajdeep Sardesai, Consulting Editor, India Today, remembered the time when he used to work for Times of India