BDB Pitmans advise Electric Guitar Plc on acquisition and admission to AIM

Philip Lamb Partner

Mireille Dagger Legal Director

Gemma L’Esperance Solicitor

Law firm BDB Pitmans has advised Electric Guitar Plc on its acquisition of 3radical Limited, fundraising and the admission of its enlarged share capital on AIM today (3 May 2024).

Electric Guitar Plc is a digital marketing and advertising company that provides first-party data solutions to the creative services sector, empowering businesses to realise the value of their first-party data.

3radical Limited has developed a proven software as a service (SaaS) platform, 3radical Voco, that enables organisations to engage individuals and request their data directly using progressive and interactive digital experiences, at scale.

Data obtained by 3radical Voco can be critical for marketing and for providing a compelling customer experience, optimising communications, designing products and services, and, ultimately, driving revenues.

The acquisition will see Electric Guitar Plc and 3radical Limited well positioned to capitalise on the shift driven by data legislation, consumer sentiment and technology changes, which means that brands and businesses need to acquire data themselves rather than purchasing it from third parties and relying on cookies.

Its admission to the AIM market is expected to see the company raise £2.2 million to fund further growth and acquisitions.

The BDB Pitmans team was led by Corporate Partner Philip Lamb together with Senior Associate Mireille Dagger and solicitor Gemma L’Esperance.

Philip Lamb said:

‘Electric Guitar Plc is a longstanding client of the firm and we are thrilled to have played a part in their growth journey. We look forward to continuing to work with them as it continue to grow through acquisition and in developing their products and services.’

John Regan, CEO of Electric Guitar Plc, said:

‘Today marks an important milestone as our shares are admitted to trading on AIM. Our decision to pursue this path reflects our confidence in the potential for growth that lies ahead. With this enhanced access to growth capital for further investment and acquisitions alongside our initial acquisition of 3radical, coupled with a successful fundraising today, we have made a robust start on our strategy of building a leading provider of first-party data solutions for the digital marketing and advertising industry, in the context of the seismic shift in online marketing away from third-party cookies.

‘3radical not only brings us an existing global client base for its own enterprise SaaS solution but also paves the way for collaborations with other potential acquisitions, especially using AI techniques. We are confident that our combined strength will allow us to grow the business, succeed in the dynamic digital marketplace, and create value for our loyal and new shareholders.

‘I would like to extend our thanks to the team at BDB Pitmans for their support in helping us achieve this significant milestone.’

Allenby Capital acted as nominated adviser and joint brokers alongside Axis Capital Markets, advised by Shoosmiths. PKF Littlejohn acted as reporting accountants. Ashfords LLP advised 3radical Limited.