The deal sees Chad Lion-Cachet, formerly of the Events International Group, appointed executive chairman of the group.

Founded by Matt Margetson and Rick Stainton in 2003, Smyle has offices in Hertford, London and a satellite office in San Francisco.

It has grown into a leading creative agency delivering live and digital experiences to business and consumer audiences around the world, employing 70 full time staff with global brands as clients from sectors including the tech, media, IT, finance and pharmaceutical.

Key projects have included producing the Opening and Closing ceremonies of the Ryder Cup, international projects for Samsung and Salesforce, Red Bulls’ Culture Clash at The O2 and experiential projects at events such as the World Economic Forum in Davos, Mobile World Congress, and the UEFA Champions League Final.

Smyle is forecasting a 69% increase in turnover from £16.5m (US$22.5m) in the previous year to over £28m for its financial year ending 31 March 2018, with operating profit projected to rise to over £2.5m.