A Christmas Cracker
March 2010
Momentum succesfully advise on the sale of the region's largest Christmas party business.
Momentum Corporate Finance advised the private shareholders of Hype Agency, the region's leading Christmas party events organiser, on its sale to Fosters Events. Operating under the Office Christmas brand Hype Agency offers themed party nights at Bristol's premier venues - including the British & Commonwealth Museum, the Paintworks and At-Bristol. Also included in the sale was the rapidly growing national Christmas party website "Office Christmas" (www.officechristmas.co.uk). Following the transaction Hype Agency will become part of Foster Events wider corporate events business.
Mickey Luke, a director and shareholder of Hype Agency said "I was delighted with the way Momentum handled the sale process. They guided me through every step of the process which for me was a new experience and their advice was invaluable. This has been a great result for the shareholders personally and Hype Agency is also looking forward to an exciting future as part of Fosters Events."
Neil Lodge, Chief Executive of Fosters said "We are pleased to have Mickey and his team as part of Fosters. There is a very good strategic fit between the two businesses with Hype Agency's strength in the corporate Christmas party market combined with Fosters ability to smoothly deliver large scale events. We intend to take the successful model developed by Mickey and roll this out to other regions."
Rob Crews, partner at Momentum Corporate Finance said "We were very pleased to help the shareholders of Hype Agency identify a strategic purchaser for the business who had a strong commercial rationale making the acquisition. Our core strength is being able to guide private shareholders through the complexities of selling their business. The market is certainly beginning to improve and we are seeing increasing interest from corporate acquirers seeking to make strategic purchases - which is exactly the case here."
About Hype Agency
Hype Agency offers themed corporate Christmas parties on an exclusive and non-exclusive basis. Venues include the British & Commonwealth Museum, the Paintworks and At-Bristol. Party sizes range from non-exclusive bookings of 10 or more guests through to exclusive bookings of up to 800 guests.
About Fosters Events
Fosters Events Catering is one of the largest and most prestigious catering and events businesses in the South West of England. An independent business with over 50 years of trading, Fosters have grown from their core South West base to having contracts throughout the South of England and undertaking events throughout the UK.