TLT advises global media platform on acquisition of leading UK-based fashion publisher

National law firm TLT has advised Future PLC – a global leader in specialist media – on its acquisition of the digital fashion and lifestyle publisher SheerLuxe Limited, and the associated digital-first talent agency Blush Talent Management Limited.

Future PLC is the Bath headquartered publisher behind well-known specialist media titles and a Women and Luxury portfolio including Who What Wear and Marie Claire.  SheerLuxe is a fast-growing UK-based digital publishing group in women's fashion and lifestyle, and which comprises a portfolio of digital brands that reach an audience of more than six million across its website, social media channels, email subscribers and YouTube and podcast subscribers.

The transaction is for an initial cash consideration of just under £40m, with an earnout requiring the successful delivery of an ambitious business plan, continued double-digit EBITDA growth through to financial 2029 and continued employment of SheerLuxe current management team capping the potential total acquisition value at £80m. The acquisition will extend Future’s reach and boost its brand to an established audience of fashion and lifestyle consumers and marks a significant step in its strategy to diversify its audience and accelerate content monetisation across high-growth sectors.

TLT advised on all aspects of the corporate transaction and supported Future PLC on due diligence. The team was led by Philip Barratt, Corporate Partner, with support from Luke Thorngate-Davies, Managing Associate, Alex Morris, Senior Associate and Isabel Evans, Associate.  A cross-practice TLT team across Tech, IP and Data; Employment; Regulatory; Tax; Commercial; Property; and Pensions and Incentives also advised on the transaction.

Corporate Partner, Philip Barratt commented: “Bringing together these iconic brands reflects the changing priorities of the publishing industry, as it transitions towards new models of distribution and targets an audience with more focus on digital platforms and influencers. The whole industry will be taking notice of this.

“Future and TLT place shared value in innovation and creativity, making us an ideal match to deliver this important strategic acquisition. Our ability to work in partnership with Future, applying our cross-practice and cross-sector expertise alongside Future’s in-depth understanding of the sector enabled us to deliver a unified and well-run process for Future. SheerLuxe is highly complementary to Future’s existing portfolio of market-leading brands – we look forward to what comes next for Future and SheerLuxe, and to continued growth together.”

Christopher Flanagan, Head of Legal at Future PLC added: “With a rare combination of strong growth characteristics and a loyal, high-value audience, SheerLuxe will be highly complementary to Future’s portfolio and will benefit from our scale and commercial capabilities.    

“TLT were an integral part of making this happen: pragmatic, responsive, and perceptive.  It really felt as if they were an extended part of our internal team, working with us not for us. We at Future are all really happy to have had them by our side to help deliver this superb outcome."

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