Global Sports Commerce (GSC) and its affiliate Techfront International, a
supplier of in-stadium LED screens, as well as integrated sponsorship and
digital solutions for sports and media events, has received funding to support
acquisitions of Screencorp in Australia and Oled & Carniegie in New Zealand.
BlackRock's Private Credit team arranged sole financing for the combined
transaction. Financial terms have not been disclosed.
The intended acquisitions will enable GSC to deepen penetration of the
Australian and New Zealand digital sporting solutions markets, while entering
the fast-growing digital billboard sector. Techfront Australia, a subsidiary of
Techfront International, enjoys market leadership in Australia and New Zealand
as partner to the AFL, All Blacks, NZ Cricket and in association with MKTG for
Cricket Australia & BigBash League.
M S Muralidharan, CEO of GSC, said, "These acquisitions will facilitate deep
engagement with sports for GSC and Techfront and amounts to a template for
replicating a successful model throughout Europe and North America. BlackRock's
support provides Techfront with greater impetus and contributes to the
consolidation of sports commerce worldwide via use of technology such as
Neil Maxwell, CEO of Techfront Australia, said, "The addition of these
companies provides TFA with an unparalleled scale in the Australian and New
Zealand markets. We are now able to cater to an increased number of sports and
in the process, provide broader offerings along with an enhanced level of
Neeraj Seth, Head of Asian Credit of BlackRock, commented, "GSC and Techfront's
dominant position in key cricket markets, plus growing involvement in football,
rugby, tennis and other sports, make it an attractive investment opportunity.
Private credit has become an important source of flexible capital for
mid-market companies at a time when banks are being constrained from providing
financing to Asian companies."
He added, "BlackRock is well-positioned to provide companies such as GSC and
Techfront with capital throughout multiple Asian jurisdictions. This enables
such organizations to expand at the same time as allowing us to equip our
investors with diverse sources of investment return."
About Global Sports Commerce (GSC): http://globalsportscommerce.com/
About Techfront: http://techfront.in/
About BlackRock: https://www.blackrock.com/
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SOURCE: Global Sports Commerce (GSC)