Octopus-backed Opex acquires EAG

Octopus Investments injected a further £500,000 from its £30m Octopus Capital for Enterprise fund to finance the deal. The venture firm invested £2m in Opex in June 2010.

The merged entity will be rebranded in a few weeks' time. It is forecasting a pro-forma turnover in excess of £40m in 2011.

With joint headquarters in London and Cwmcarn in Wales, the Opex Group supplies services to the events management industry. It supports its clients in the delivery of product launches, exhibitions, seminars, conferences and entertainment events both in the UK and across mainland Europe. Opex was established in 2000 and currently employs 223 people.

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com

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• Topics
• UK / Ireland
• Expansion
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• Octopus Ventures
• Acquisition finance