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13 August 2024
Literacy Capital plc ("Literacy Capital" or the "Fund")
Literacy Capital announces new investment in Campfire Group
New investment
Literacy Capital is pleased to announce an investment into Campfire Group ("Campfire"), a leading digital marketing agency, specialising in the provision of technology-led influencer marketing services.
Literacy Capital has made an investment for a significant minority stake to support and accelerate Campfire's growth under the founders' continued leadership. Further financial terms have remained undisclosed.
Literacy Capital completes investment into Campfire
Literacy Capital plc is pleased to announce it has made a significant minority investment into Campfire, a leading digital marketing agency based in Manchester.
Founded in 2019 by Alex Brown and Joe Gradwell, Campfire is focused on providing technology and data-led influencer marketing services, with the business's proprietary trend spotting and prediction tool, Spark, at the core of its service offering.
Campfire have completed 10,000+ influencer collaborations to date, generating market leading engagement rates and return on investment for its clients. The business's service offering includes influencer marketing, strategy, organic social, paid media, content creation and data analytics.
The investment from Literacy Capital will support Campfire's continued growth, both organically and via strategic acquisitions, with a focus on their technology-centric proposition. Alex and Joe will remain at the heart of business activities, ensuring Campfire continues to deliver deep industry insights to its roster of blue-chip clients.
Jim Brigden (Non-Executive Chairman) and Paul Cooper (Non-Executive Director) join the business at completion, bringing a wealth of marketing and digital media related experience from successful operational and advisory roles at Brainlabs, I Spy, The Search Works and Overture.
The transaction is Literacy's 24th platform investment since the inception of the Fund in 2017 with Campfire joining a growing group of exciting portfolio companies.
Enquiries
For further information, please contact:
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Literacy Capital plc / Book Asset Management LLP: Richard Pindar / Tom Vernon
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+44 (0) 20 3960 0280 |
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MHP Group: Reg Hoare / Ollie Hoare / Matthew Taylor
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+44 (0) 20 3128 8100 |
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Singer Capital Markets Securities Limited: Robert Peel
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+44 (0) 20 7496 3000 |
About Literacy Capital:
Literacy Capital (BOOK.L) is an investment trust that was co-founded by Paul Pindar and Richard Pindar in 2017 with £54m of capital. Literacy subsequently listed on the London Stock Exchange in June 2021. The Fund focuses on opportunities to invest for the long-term in growing private businesses where a clear route to creating additional value can be seen with its support. The fund structure is evergreen, allowing it to be more flexible and to accommodate the wishes or needs of founders.
It also has a unique charitable objective, to donate 0.9% of annual NAV to charities focused on improving UK literacy in children. £10.0 million has been donated or reserved for donation to charities since the trust's creation in 2017. For more information, please visit our website: www.literacycapital.com.
Website:
www.literacycapital.com
LEI: 2549006P3DFN5HLFGR54
A copy of this announcement will be available on the Company's website at www.literacycapital.com.
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