LBG Media acquires Uncovered
June 22, 2026

By Chris Forrester



LBG Media, the social entertainment powerhouse with a focus on young adults, has acquired 75 per cent of the share capital of Uncovered Holdings Limited, a UK‑based, Gen-Z native social‑first creative agency specialising in the end‑to‑end design, production and management of social media strategies.

Founded in 2017 in London by two co-founders – Chris Cookson and Catherine Orr (pictured) – who are both remaining with the business post-completion, Uncovered is recognised as the #1 TikTok partner in the EU. Its services include creative support to businesses to deliver measurable results across paid media, organic and creator social channels, using fast and repeatable data-led strategies, delivered through its team of around 120 employees.


Uncovered’s expertise in short-form content, platform partnerships and emerging creative technologies to help drive engagement and brand growth have delivered transformative results for its brand partners. In the year ended December 31st 2025, Uncovered generated £10.2 million of revenue and delivered £2.7 million adjusted EBITDA, representing a margin of approximately 26 per cent, having grown revenues by over 80 per cent on the prior year. Uncovered is expected to deliver revenue growth of at least 50 per cent in the calendar year to December 31st 2026, while maintaining similar adjusted EBITDA margins.

The acquisition is for an initial cash consideration of £26.8 million, including customary adjustments for working capital, cash- and debt-like items, with an earnout cash payment of up to £7 million, based on the financial performance of Uncovered in the calendar years 2026 and 2027. The acquisition includes partial value realisation for the founders and management of Uncovered, and full value realisation for early-stage investors in Uncovered. The minority shareholding will not accrue dividends or rights to further profit distribution, profits generated from Uncovered will accrue in full to LBG Media.

Pursuant to the Put & Call Options, the Group has the right to acquire, or may be obligated to acquire, the remaining 25 per cent of the share capital of Uncovered, for an exercise price which is to be calculated on agreed nine times multiple of respective adjusted EBITDA in each of the calendar years 2028, 2029 and 2030 which, if and to the extent exercised, will become payable in cash following the end of each such calendar year.

Uncovered will continue to operate as an independent brand within the Group, leveraging LBG Media’s established US presence and client relationships to develop larger, full-funnel brand partnership opportunities that span both organisations’ audiences.