International law firm Trowers & Hamlins has advised on the 100% sale of Backlite Media, the UAE headquartered out-of-home advertising company, to Multiply Group PJSC, the Abu-Dhabi based holding company that invests in transformative organisations.
Founded in 1996 and headquartered in the United Arab Emirates, with offices in Abu Dhabi and Dubai, BackLite Media is a specialist Out-of-Home (OOH) media company renowned for its innovative approach and commitment to pushing the boundaries of advertising. The company has grown to become a key player in the UAE's outdoor advertising sector. The acquisition by Multiply Group marks a significant milestone for the firm, which has assets in locations across the UAE and in 2023 had revenues of AED 232 million. The deal encompasses all operating entities of BackLite Media and is a key step in Multiply Group’s broader strategy to enhance and consolidate its Media interests.
The Trowers team was led by International Corporate Partner, Stephen Sullivan, assisted by Associate Ethan Chye.
The BackLite deal follows a number of similarly successful mid-market corporate deals on which Trowers lawyers across the Middle East have recently advised. The firm has been particularly active working for clients across various industries, including the power sector and assets, information technology, agriculture and healthcare. Notably Trowers acted for various individual shareholders from the Masaood family in relation to their disposal of a majority stake in Berns Brett Masaood (a leading insurance broker in the UAE, headquartered in Abu Dhabi) to BMS (a London based specialist insurance and reinsurance broker) and entry into a joint venture with BMS, which completed in January this year.
