Spectrum advises on the disposal of Oliver Smith & Partners
Spectrum Corporate Finance has successfully completed the disposal of Oliver Smith & Partners (“OSP”) to Hamburg based Gruner + Jahr AG & Co (“G + J), a subsidiary of Bertelsmann AG.
OSP is one of the UK’s most respected international media representation organisations and provides sales solutions to leading media companies from around the globe, across print, digital and audio-visual media. The combination of G+J and OSP creates one of the largest and most diversified portfolios of international media on offer in the UK market.
This new joint organisation benefits both the publishing partners and media buyers, providing extended advertising opportunities and a multiple market approach for media buyers. Complementary portfolios, similar organisational structures and comparable levels of customer service were among the most important motives for the combination between the two companies.
“Spectrum worked tirelessly right from the outset through to completion to ensure that the transaction was delivered within a relatively short time frame, despite an intensive due diligence process and the challenges of the summer holiday season. They adopted a robust, yet pragmatic approach to navigating potential deal issues, and applied great attention to detail throughout the lifespan of the transaction, in particular during the working capital negotiations, where their technical knowledge and experience enabled us to secure a very favorable outcome. We are delighted with the overall result and feel that Spectrum’s advice and expertise really maximised value for us.”David Oliver, Director and joint-owner of OSP
“OSP has always been one of the best international representation companies in the UK. Thus, adding this outstanding company and team to our international sales network is a great asset to us. Moreover, the cooperation is perfectly aligned to our global strategy of extending our high quality portfolio.”André Freiheit, Director or International Sales, Gruner + Jahr