The company intends to place the shares with institutional investors and expects to be valued at between #25 million and #30 million after taking account of new money raised for the company in the placing.
The proceeds will be used in the acquisition and promotion of businesses, which own and manage events, the acquisition of talent client agencies, the expansion of its existing TV operations and for working capital purposes.
Said CSS Stellar's chief executive officer, Julian Jakobi: "We believe that the opportunity exists to create by acquisition and organic growth, a leading global sports and entertainment management
business capitalising upon a fragmented and rapidly growing market place and the experience of our management team. "
CSS Stellar has organised its operations into three divisions: client representation, events
and television which includes the production of motor racing programming for Sky Sports.
Other clients include Dario Franchitti, Pedro de la Rosa, Richard Burns, Luis Figo, and the England football and Rugby teams.
Sports sponsorship consultancy clients include: Arrows F1 Team, Williams F1 Team, Mobil, Lotus, Orange and Reuters. Event services, (including branding, signage and graphic design) clients include: UEFA, the Royal and Ancient, England and Wales Cricket Board, the Epsom Derby and Coca Cola.
CSS Stellar currently employs approximately 100 people at UK offices in London, and Oxfordshire and overseas offices in the USA and Portugal. In the 8 months to August 2000 the company recorded turnover of #8.9 million and operating profit of #1.0m.
