Livingbridge invests in Jungle Creations

The deal is valued at GBP 30m and sees Livingbridge take a stake of 51%. This valuation would imply an entry multiple of 12x, based on Jungle Creations' 2020 EBITDA.

Existing investors Edge Investments and founder Jamie Bolding are to retain minority stakes in the business.

The GP is investing via its Enterprise 3 Fund, a strategy focuses on growing SMEs with enterprise values of up to GBP 50m. Recent investments from the fund include wheelchair and mobility provider AJM Healthcare, which the GP acquired from WestBridge in July 2021.

Livingbridge intends to support the company with its international growth, as well as with increasing content production and launching new brands.

Previous investments in media agencies made by Livingbridge include Brainlabs, a data-focused marketing agency that Livingbridge acquired via its second enterprise fund in March 2019.
Livingbridge reached the GBP 1.2bn mark for the fundraise for its seventh flagship fund in May 2021, as reported.

The GP has now made six platform investments to date in Europe in 2021, according to Unquote Data.

Previous funding
Edge Investments led a GBP 3m Series A round for Jungle Creations in December 2018. The company said in a statement issued at the time that it intended to use the funding to grow its New York, Los Angeles and Toronto offices, as well as producing more long-form content such as documentaries and TV series.

Company
Founded in 2014 by Jamie Bolding, Jungle Creations creates and produces content via seven media brands including Twisted, Four Nine, Level Fitness and Craft Factory. Jungle Creations distributes its content via social media platforms including Facebook, Snapchat, TikTok, Instagram and YouTube. The company also produces branded content via Jungle Studios and runs The Wild, a creative agency that uses Jungle's data for social media campaigns.

According to a statement, Jungle Creations generated revenues of GBP 19.3m and EBITDA of GBP 2.5m. The company expects to generate total revenues of GBP 30m and EBITDA of GBP 5.5m in 2021.

Jungle Creations' clients across its platforms include GSK, Heinz, Silverspoon and Bailey's.

People
Livingbridge – Vernan Richards (associate director).
Jungle Creations – Melissa Chapman, Nat Poulter (co-CEOs).

Advisers
Equity – FRP Corporate Finance (corporate finance); Jegi Clarity (M&A).
Vendor – Deloitte (corporate finance).

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