Turner Parkinson are delighted to have advised MPP Global, a high growth technology business delivering digital monetisation services to the media, sport and retail sectors, on a £12m investment from Albion Ventures and Grafton Capital. As part of the deal Keith Wallington, the former COO of Mimecast, has joined the business as chairman tasked with driving the business’s international strategy.
Head of Corporate James Sheridan and Partner Stephen Hadlow led the TP team consisting of Solicitor Luke Philpott and Paralegal Jonathan Garner. Stephen Hadlow commented on the deal, “Partnering fast growing and innovative businesses is a core part of TP’s focus, and we’re delighted to have supported MPP Global in securing this cornerstone investment.”
Paul Johnson, MPP Global’s chief executive and co-founder, said, “We are incredibly excited to be embarking on the next chapter of MPP Global’s evolution, embracing new markets and launching a stream of new eSuite features. We welcome Keith to the team as we look forward to raising international awareness of our leading eSuite platform in the United States and Asia Pacific region.”
Ed Lascelles, partner, Albion Ventures, said, “This is a compelling opportunity for Albion to invest in a market-leading, high growth and profitable SaaS business run by an entrepreneurial and motivated team. We see the market for paid OTT content growing rapidly over the medium term and MPP Global is well placed to consolidate its position as the category leader.”
Oliver Thomas, partner and co-founder, Grafton Capital, said: “Paul Johnson, Chris Cheney and their team have already demonstrated success in building a profitable, growing business which consistently outperforms major competitors worldwide. We are excited to be supporting the company as a growing number of media, sports and subscription retail enterprises are choosing MPP Global’s integrated capabilities to maximize the lifetime value of their customers.”