BSR
BSR
  • Home
  • Distressed Businesses
    • All Distressed Businessess
    • Administrations
    • Liquidations
    • Winding Up
    • Insolvency Advice  New
  • Buy a Business
    • All Businesses for Sale
    • Find a Business for Sale
    • Raising Business Finance
    • Buyer Acquisition Service   New
    • Escrow Service   New
  • Sell a Business
    • Sell Your Business
    • Seller Accounts
    • Need Help Selling?
    • Help With Finance New
    • Business Valuation
    • Business Wanted Adverts
  • Insights & News
    • View All News
    • View All Insights
  • Off-market
    • Source deals
  • Log In
  • Join Now
Join now
11111111

Home / News / Business consultancy Elixirr acquires Essex-based digital marketing firm

Business consultancy Elixirr acquires Essex-based digital marketing firm

Thu, 29 Oct 2020 | BUSINESS SALE

Business consultancy Elixirr acquires Essex-based digital marketing firm

Business consultancy Elixirr International has acquired the Essex-based digital marketing firm Coast Digital, in a deal that could rise to £3.8 million. The deal will see Elixirr pay an initial £2.2 million cash consideration, along with the issue of 444,752 ordinary shares of 0.005 pence per share.

Elixirr added that there will be potential earn out payments of new ordinary shares totalling £400,000. These are contingent on Coast Digital achieving underlying earnings targets for 2021 and 2022. An additional cash payment will also be made based on the working capital of Coast Digital upon completion.

Elixirr moved for Coast Digital, which employs 48 staff, as it looked to grow its existing digital capabilities and offer its clients a full-service digital capability. Elixirr forecasts the acquisition will immediately enhance earnings.

Stephen Newton, Chief Executive of Elixirr, said: "As our first acquisition post-IPO, today's announcement marks the next step in our ambitious growth plans and enables us to support clients in all aspects of digital - something more important than ever in the current market.”

"Coast Digital's expertise will be highly complementary to the quality service Den Creative already provides and their capabilities will be hugely beneficial to many of Elixirr's clients, while our strategy and innovation-led approach has the potential to assist Coast Digital's clients on broader strategic topics."

Coast Digital Chief Executive David Wharram said: "Very quickly from meeting the Elixirr team we saw huge similarities in the way we operate, our culture and appetite for growth.”

"The platform they can offer to our business is unique, and allows us to retain what has made Coast Digital the firm it is today, while dramatically expanding our potential market reach. We are excited to be starting this next stage of our journey."

According to Coast Digital’s most recent accounts, made up to the year ended April 30 2020, its fixed assets are valued at £45,705, while its current assets stand at £2.19 million, with net assets of £1.38 million.

In Elixirr International’s most recent accounts, for the year ended December 31 2019, it reported gross profit of £4.4 million on revenue of £13.1 million, with total comprehensive income of £1.1 million.

Its non-current assets amounted to £55.9 million, while current assets were valued at £8.9 million, with total assets standing at £64 million and net assets of £44.6 million.


Find businesses for sale here.

If you are looking for an exit, we can help!


Share this article



Latest Businesses for Sale

Leadership Development Business
UK Wide

The company is an innovative leadership development business that focuses on enhancing the performance and engagement of CEOs and senior managers, along with that of the wider company culture. Operating across multiple sectors, the company designs...

Asking Price: Offers Invited
Turnover: £1,400,000

LEASEHOLD


Provider of ICT Support & Consultancy Services
UK Wide

The company’s offering comprises intelligent, realistic consultancy services in line with each client’s specific requirements and budget. This is backed up by engineers with a strong working knowledge of each business’s infrastructure, thus enabling...

Asking Price: Offers Invited
Turnover: £760,000

LEASEHOLD


HR Consultancy Practice
UK Wide

An outsourced employment law and HR specialist offering a comprehensive range of services for clients throughout the UK.

Asking Price: Offers Invited
Turnover: £500,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
03
 
Feb
 

Social media marketing firm acquired at up to 41.6x operating profit | BUSINESS SALE

Manchester-based social media and influencer marketing agenc...

 
03
 
Feb
 

Pub group planning to sell 1,000 sites as pressures on hospitality mount | COMMERCIAL PROPERTY

Stonegate Group, the UK’s largest pub company, is repo...

 
02
 
Feb
 

Babble hits 12 acquisitions in a year with double takeover | BUSINESS SALE

London-based cloud technology firm Babble has continued its ...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news

logo
Our Services Distressed Businesses
  • Businesses for Sale
  • Distressed Companies
  • List a Business
  • Help with Finance
  • Buyer Acquisition Service
  • Small Businesses for Sale
Company Buy a Business
  • About BSR
  • Pricing
  • Insights
  • News
  • FAQs
  • Reviews
Get In Touch
020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm
About BSR
Business Sale Report is the UK's leading
independent business for sale & distressed business listing service.
Established in 1995, BSR offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.
Subscribe

Subscribe to our newsletter to receive news about the latest businesses for sale.

  • Terms
  • Privacy
  • linkedin
  • facebook
  • twitter
© 1995-2023. Business Sale Report Ltd. All rights reserved. www.business-sale.com.