Catapult is pleased to announce that its portfolio business, Hangar Seven Limited, a marketing services agency specialising in content creation has been acquired by The Hut Group, and has delivered an excellent return for the Catapult Growth Fund with a 3 times cash return.
Catapult invested in Hangar Seven in September 2011 to support its ambitious plans for growth. Hangar Seven has become a leader in the planning, creation, production and distribution of powerful content that changes consumer opinion, stimulates consumer interaction and drives retail footfall and sales. Its clients include, DFS, B&Q, Boots, Tesco, Diageo and Unilever, amongst many others.
Private equity backed The Hut Group, is a global leader in health, beauty, fitness and lifestyle and is home to well-known online brands such as Myprotein, lookfantastic and more. It operates over 100 high-profit websites that sell premium, non-perishable FMCG direct to the consumer.
Ed Wass, who led the transaction for Catapult Ventures, comments: “We are delighted that Hangar Seven has been such a successful story. Catapult backed the management team because we recognised that they had the passion, ideas, skills and enthusiasm to grow the business with our help. We are very proud to have supported them through this period of the company’s development.”
Jeremy Middleton, Hangar Seven Chairman, comments: “Over the last five years Catapult Ventures has been a hugely supportive partner, with its investment and guidance, enabling us to successfully deliver our strategic goals. The management team now look forward to the continued success of the business under new ownership.
“Becoming part of The Hut Group is great news for both our people and our customers. It brings many new career opportunities for our Crew and, for our customers, it means that we will be able to augment our existing services with The Hut Group’s market leading abilities in both technology and customer data and insight.”
The shareholders were advised by Richard Medd and Vicky Gaskell of Browne Jacobson.