Mid-market private equity firm Straight Bat has taken its next big swing, acquiring a majority stake in Sydney-based events and marketing company Click Click Marketing, reports The AFR’s Sarah Thompson , Kanika Sood and Emma Rapaport . Click Click was founded in 2007 as a one-stop events and marketing business. It had its fingerprints on more than 600 events and 750 lead-generation campaigns across Australia and the Asia Pacific in 2022.
It turns over $23 million in revenue annually. Clients are primarily in the software and information technology sector, shelling out for services such as event management, lead generation, campaign design and copywriting. It is not known what Steve Gledden’s shop paid for the stake.
However, it typically invests in profitable, mid-sized businesses with up to $200 million in revenue; $50 million in earnings before interest, tax, depreciation, and amortisation; and 20 per cent-plus EBITDA margins. [Read more] Sony Pictures Entertainment said on Monday that its chief executive, Tony Vinciquerra , will step down at the beginning of next year and be succeeded by the studio’s president and chief operating officer, Ravi Ahuja , reports The New York Times . Ahuja, 53, will report to Kenichiro Yoshida, who runs the Sony Group, the Tokyo-based technology and entertainment giant.
Vinciquerra, 70, will serve as nonexecutive chairman of Sony Pictures through the end of next year. Ahuja’s appointment is a relatively tranquil change by the standards.