Harbottle & Lewis advises on the sale of performance-io to private equity firm Apiary Capital

Harbottle & Lewis advises on the sale of performance-io to private equity firm Apiary Capital

We have advised the sellers of performance-io, a leading life sciences performance marketing, SEO and GEO agency, on its sale to private equity firm, Apiary Capital.

Founded to deliver cutting-edge performance marketing solutions, performance-io has established itself as a key player in the industry, working with clients to enhance their marketing strategies through data-driven insights and expertise. Headquartered in London, the business now operates globally with teams in the UK, US, India, Japan and South Africa. 

Founder and CEO Matt Lowe and his senior management team will remain with the business, focusing on driving performance-io’s further growth and development.

Our team was led by partner Ed Lane, with support from senior associate Alex Gays, and associates Elizabeth Compton and David Jones. Co-managing partner Tony Littner provided strategic support throughout, with partner David Scott advising on corporate tax matters. Partner Yvonne Gallagher and associate Harry Wade also advised on employment matters.

On working with Harbottle & Lewis, Matt Lowe commented: “I’d not worked with lawyers on a PE backed deal before, and frankly the mood music about the experience wasn’t great. However, the experience with Harbottle and Lewis was. From the first meeting with Tony and Ed, through to working with the broader team through some complex curve balls, we had a superb experience; working in a collaborative manner, learning loads and always with a calming, assured temperament. I can’t recommend H&L enough.”

Ed Lane added: “We are delighted to have supported Matt and his team on this milestone, and we look forward to seeing performance-io’s continued success in its partnership with Apiary Capital.”

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Ed Lane Partner

Ed advises founders, businesses and investors on a broad range of corporate, corporate finance and commercial matters.

Ed advises founders, businesses and investors on a broad range of corporate, corporate finance and commercial matters.

He has a particular interest and expertise in the creative industries, including film and TV, video games and music, and in the broader media, entertainment and technology sectors.

His practice spans mergers and acquisitions, fundraises from pre-seed to series A and beyond, startups, growth equity investments, public takeovers, joint ventures, management incentive arrangements, including EMI options, and SEIS/EIS investments. He is actively involved as a speaker and mentor for a number of different industry accelerators and trade bodies, including Indielab, BAFTA and UKIE.

Ed trained and qualified at Linklaters, where he spent five and a half years in the private equity M&A team acting for a variety of private equity houses and businesses on leveraged and non-leveraged buy-outs, growth equity investments, exits, management incentive arrangements and bolt-on acquisitions.

Ed is ranked as a key lawyer in The Legal 500 UK guide, and is noted for his “sector expertise”, “encyclopaedic memory” and his willingness to “go the extra mile to get the best deal.”

Tony Littner Co-Managing Partner

Tony is the firm’s co-managing partner and co-lead of the firm’s venture capital and emerging companies practice.

Tony is the firm’s co-managing partner and co-lead of the firm’s venture capital and emerging companies practice.

Tony advises on a wide range of corporate transactions, including investments and venture capital deals, buying and selling businesses and shareholder arrangements. Tony is widely recognised as one of the leading venture capital lawyers in the UK and is a trusted adviser to entrepreneurial businesses and to the investors in such businesses, with a particular focus on the technology, media and entertainment sectors.

Tony frequently advises emerging companies and the founders behind such companies on their full lifecycle from inception of an idea through to funding rounds, exit and beyond as well as the venture capital funds and investors that invest in such high growth businesses.

Tony is recognised as a "Leading Partner" by The Legal 500 and ranked by Chambers in venture capital work.

David Scott Partner

David is a corporate tax and share incentives partner in our corporate group.

David is a corporate tax and share incentives partner in our corporate group.

He has a wealth of experience providing corporate and personal tax advice to the full range of the firm’s clients and his core practice involves tax advice for entrepreneurs and their businesses. David has considerable experience advising on the tax aspects of M&A transactions and expertise in all aspects of share incentive arrangements.

David works closely with businesses at varied stages of growth and size, advising both investors and investee companies on tax efficient fundraising, including EIS and SEIS, through to an exit.

He also advises on a range of employment tax issues, including share based incentives and option schemes ranging from the implementation of EMI and CSOP share schemes to highly tailored share-based arrangements for senior management such as growth shares. He also advises on the use of employee benefit trusts (EBT) and employee ownership trusts (EOT).

As the head of the charities and philanthropy group, he advises not-for-profit organisations and individual philanthropists on all charity law issues, including commercial arrangements and corporate governance issues, as well on specific charity tax issues.

David is member of the International Tax Specialist Group (ITSG).

Yvonne Gallagher Partner

Yvonne is an employment partner and head of the firm’s employment group.

Yvonne is an employment partner and head of the firm’s employment group.

Yvonne advises on a full range of contentious and non-contentious employment law matters, including board disputes, employment claims (including discrimination claims) and disputes of all types in relation to remuneration and benefit arrangements. She is highly regarded for her realistic and pragmatic approach to finding resolutions to workplace conflicts.

Yvonne has longstanding expertise in relation to transfer of undertakings (TUPE) and practical management of the implications for businesses of TUPE transfer situations. She has developed a particular specialism working with employers to resolve complex board disputes.

She has considerable experience in advising charities and not-for-profit organisations as well as corporates of all sizes and structures ranging from startups to listed entities. Her advice includes ensuring contracts and policies are fit for purpose and resilient.

Yvonne carries out both senior executive and partnership work alongside a busy corporate employment practice.

She regularly advises high profile individuals who are exiting their roles and taking up new positions. This includes advising on complex remuneration and incentive structures.

She is also very experienced in advising on the enforceability of restrictive covenants in executive service agreements and negotiating the terms of appointments.

Yvonne is well known in the market and is often quoted in national and specialist press in relation to employment and HR topics:

Alex Gays Senior Associate

Alex advises clients on a broad range of corporate and commercial matters in the technology, media and entertainment sectors.

Alex advises clients on a broad range of corporate and commercial matters in the technology, media and entertainment sectors.

Alex has a particular interest and expertise in the creative industries, often assisting founders, entrepreneurs and well-known individuals and brands.

He has experience advising on mergers and acquisitions, financings, fundraises from pre-seed to Series A and beyond, shareholder arrangements, joint ventures, incentivisation schemes (including EMI options) and corporate restructurings.

In addition, Alex has experience working with UHNW clients, international individuals and their families.

Clients describe Alex as “extraordinary” and “stand out amongst all counsels we have used internationally.”

Alex was seconded to the Virgin Group legal team where he supported a number of functions across the business. Alex worked closely with Virgin’s investment group, charitable foundation, Virgin Unite, and not for profit organisation, Virgin StartUp.

Alex spent part of his training contract working in-house for the multi-family office arm of an independent investment group in London serving UHNW clients, which included time spent working in the Cayman Islands.

Alex also has experience working in other offshore jurisdictions.

Elizabeth Compton Associate

Elizabeth is an associate who advises on a broad range of corporate and commercial matters, with a particular focus on clients in the technology, media and entertainment sectors.

Elizabeth is an associate who advises on a broad range of corporate and commercial matters, with a particular focus on clients in the technology, media and entertainment sectors.

She frequently advises on mergers and acquisitions, reorganisations, fundraisings and shareholder arrangements. Elizabeth also has a particular interest in working with charities and not-for-profit organisations.

Elizabeth joined Harbottle & Lewis in May 2024. Before joining, she trained at Macfarlanes and qualified into their corporate and M&A team in September 2022 where she focused on domestic and cross-border mergers and acquisitions and private equity transactions for private equity houses, large corporates and management teams.

David Jones Associate

David advises a wide range of businesses across a broad range of corporate and corporate finance matters.

David advises a wide range of businesses across a broad range of corporate and corporate finance matters.

David has particular expertise in acting on joint ventures and corporate acquisitions, usually with a significant overseas element, often involving substantial real assets.

He joined Harbottle & Lewis from Foot Anstey in October 2024. His previous experience included acting for private equity backed consolidators and b2b media companies, including a number of repeat acquisitions and group re-organisations.

Harry Wade Associate

Harry is an associate specialising in employment law. He advises both employers and employees on a broad range of contentious and non-contentious employment law matters.

Harry is an associate specialising in employment law. He advises both employers and employees on a broad range of contentious and non-contentious employment law matters.

Harry has experience guiding employers through various HR matters, including grievances, disciplinaries, investigations, joining and exit processes. He has also advised employers in their defence against claims brought before the Employment Tribunal, and on the settlement of such claims.

His work also covers assisting employers on the implementation of staff policies and the creation or review of employment contracts and consultancy agreements. Harry also has experience advising clients on the employment law aspects of commercial transactions. For employees, Harry has helped them to negotiate their employment contacts, reviewed and advised on post termination restrictions they are subject to, and advised on internal disputes with their employers.

Harry has advised clients of varying sizes, from startups to multinational companies and asset management firms. His experience spans across a number of different industry sectors, including sport, advertising, theatre, hospitality and financial services.