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LVCG Announces Bright Bricks Acquisition

5th October 2018

Bright Bricks leopard on a branch
The leopard made by Bright Bricks for BRICKLIVE’s Animal Paradise tour

LVCG is pleased to announce the conditional acquisition of Bright Bricks Holdings Limited (“Bright Bricks”), a leading UK-based builder of bespoke brick statues and touring events, for a total consideration of £8.5m (the “Acquisition”). 

Brick dinosaur built by Bright Bricks
Bright Bricks produces incredible models

To part-finance the Acquisition and provide additional working capital to the Group, the Company also announces a conditional placing 4,615,381 of new ordinary shares of 1p each (“Shares”) to raise approximately £3.0m (before expenses) (the “Placing”).

The highlights of the announcement are as follows:

Acquisition of Bright Bricks, one of the world’s premier brick model building companies;

  • Acquisition and Placing enables LVCG to fast-track growth plan in the US and Europe, and provides the opportunity for further partnership models;

  • The Directors believe a combination of the businesses will result in LVCG being one of the most significant brick-based companies in the world;

  • Strengthening of the Board through appointments of Simon Horgan from Bright Bricks as Executive Director, Trudy Norris-Grey as a Non-Executive Director and Bryan Lawrie as Chief Financial Officer. Andy Smith to become Chief Strategic Officer on a part-time basis.

  • Bright Bricks employees, including key personnel, retained within the enlarged Group.

  • • Acquisition of Bright Bricks for total consideration of £8.5m, to be funded by a combination of £2.167m in cash from the Placing (“Cash Consideration”), 8,461,536 new Shares (“Consideration Shares”) and £0.833m consideration deferred until the day following the first anniversary of completion (“Deferred Consideration ”);

  • • £3.0m (before expenses) raised through Placing of 4,615,381 new Shares (“Placing Shares”) at a price of 65 pence per share (the “Placing Price”);

  • • LVCG directors are investing for a total 61,537 Shares in the Placing

  • • Net proceeds of Placing to be used towards financing the Acquisition and to provide working capital for the enlarged Group;

    "A global, brick-based brand"

    David Ciclitira, Chairman at Live Company Group, said: “At the beginning of this year, I had three specific goals for the Group: the consolidation of the BRICKLIVE brand in Asia; the establishment of the BRICKLIVE brand In the United States; and the acquisition of Bright Bricks Holdings Limited. This deal reinforces my final goal. The Group through BRICKLIVE, has created a global brick-based brand, whilst Bright Bricks is one of the world’s premier brick model building companies. With the combination of the businesses, the Directors believe LVCG will be one of the most significant brick-based companies in the world.”

Watch the Bright Bricks team build a Dallas Cowboys’ player in 30 seconds

Simon Horgan, Executive Chairman at Bright Bricks, said: "Over the past 2 years, Live Company Group has become an important customer for Bright Bricks. We have collaborated on many exciting and highly creative projects where Bright Bricks has used its skills to create unique event content. The joining of our two companies will allow us to fully service and supply the global Bricklive network of events from within our own resources. Bright Bricks has an extensive portfolio of touring assets and a highly skilled design and building team that will now be integrated into Live Company Group. We have many new concepts waiting to launch and look forward to an exciting future together.”

Further information on this announcement is available on our RNS page

Copyright © Live Company Group plc. Brick Live Group Limited is an independent producer of BRICKLIVETM and is not associated with The LEGO Group. All rights reserved. LEGO® is a trademark of LEGO Juris A/S.

+44 (0) 207 225 2000

For further information contact
Ruth Cunningham

info@livecompanygroup.com