Mon 06/08/2020 13:46 PM
Relevant Document:Annual Report 2018
U.K.-based digital communications group Investis Digital has hired advisors from Raymond James to sound out potential bidders, banks and alternative lenders for the expected relaunch of an auction process, according to sources.
The advisory boutique is pitching the ECI Partners-owned company off an adjusted EBITDA of £11 million for full-year 2019 to Dec. 31, sources said.
Investis reported a turnover of £20.4 million, according to its 2018 annual report, an increase from £17.3 million the year before. The company reported an adjusted EBITDA of £5.7 million for full-year 2018, up from £3.7 million for full-year 2017.
In August 2018, the group repaid its £2.5 million Facility B Loan with Alcentra leaving the £30 million Facility A Loan outstanding. At the time it had access to an unutilized £2.5 million revolving credit facility provided by HSBC.
Investis was founded in 2000 and bought by ECI in 2014, according to the sponsor website. The company provides international, digital corporate communications for about 2,000 public companies using Connect.ID technology.
Investis has offices in New York, Phoenix, Dublin, Edinburgh, Gothenburg, Helsinki and Vadodara in India. Clients include Ascential, ASOS, Rolls-Royce, Tarte, Fruit of the Loom and Wyndham.
All parties contacted declined to comment.
-- Emma Roche