Chime buys US marketing firm SJX for £5.3m and extends banking facility

Chime, the comms and sports marketing group that owns London-based PR firm Good Relations, has bought US sports and entertainment marketing company SJX Business for an initial sum of $8.5m (£5.3m).

Satterthwaite: Acquisition part of US expansion
Satterthwaite: Acquisition part of US expansion

Separately, the UK-listed Chime has announced an increase and extension to its current £95m facility, which is due to expire in 2016.

The new £130m facility with RBS and HSBC will expire in September 2019 and offer reduced margin and increased operational and financial flexibility, plus access to a potential incremental liquidity of £25m if required, Chime said.

The SJX Business represents a range of businesses including The US Tennis Association, Cirque du Soleil and Little League Baseball. It generated revenue of $4.4m (£2.8m) and pre-tax profit of $1.9m (£1.2m) in the year to 31 December 2013.

Chime chief executive Christopher Satterthwaite said: "We are delighted with the SJX acquisition which is in line with our stated strategy and expands our presence in the United States, the largest sports marketing marketplace in the world."

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