Next Fifteen Communications Group PLC has exercised an option that gives it a controlling interest in Blueshirt Capital Advisors (BCA), the tech-focused capital markets business.
The business was set up by the management of Next Fifteen’s Blueshirt Agency to create a “separate but complementary business” to work on IPO advisory for its technology clients.
In that time BCA has established a “leadership role” in the area of special-purpose acquisition companies (SPACs) and direct listings.
Under the terms of the deal, Next Fifteen had the option to take its holding to 51% from 20% this year – which it has triggered.
It can take its stake to 80% in two years. In the meantime, the financial results of BCA will be consolidated into Next Fifteen’s.
Last year the business reported net revenues of US$4.1mln and revenues of US$2.8mln.