New Media to acquire Stephens Media, LLC for $102.5 Million

New Media Investment Group Inc., a publisher of locally based print and online media in the United States, is acquiring substantially all of the assets of Stephens Media, LLC for $102.5 million in cash, subject to working capital adjustments. New Media intends to fund the acquisition with cash on the balance sheet and available capacity under its credit facility. Stephens Media is a newspaper publisher operating eight daily newspapers, over 65 weekly and niche publications, and more than 50 websites serving communities throughout the United States. The assets have a combined average daily circulation of approximately 221,000 and 244,000 on Sunday.

Michael E. Reed, New Media’s President and CEO commented, “We are pleased to announce the proposed transaction to acquire Stephens Media. The portfolio is anchored by an attractive set of print publications with a strong community focus, solid readership base, and stable advertisers with limited customer concentration. These award-winning, daily newspapers are the trusted source of local news in their communities providing journalistic excellence for more than 100 years. We are very excited to welcome Stephens Media into our growing New Media family, and look forward to introducing new digital initiatives, such as Propel and BestRide into their markets, while simultaneously continuing their long standing tradition of providing premier content to the communities they serve.

New Media anticipates the deal will close in the first quarter of 2015. The deal follows New Media Investment Group’s acquisition of Halifax Media Group in November for $280 million.

USA, New York, NY & Las Vegas, NV

Internet Brands acquires Total Attorneys 

Internet BrandsInternet Brands has acquired Total Attorneys, a company founded in 2002 that generates online and phone leads, as well as appointment scheduling services, for small and medium sized law firm attorneys

Total Attorneys“As one of the oldest and largest legal marketing platforms, Total Attorneys helps thousands of attorneys attract and convert consumers into new clients,” said Chris Braun, General Manager of the Legal division at Internet Brands. “The company’s proven track record of helping attorneys grow their practices is an ideal fit within our Legal portfolio, which shares the same philosophy of innovation and superior customer service.”

The Total Attorneys brand will remain intact and the company will continue to operate from its Chicago headquarters.

USA, Los Angeles, CA & Chicago, IL

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Bunzl acquires Quirumed in Spain and Jan-Mar Sales in Canada

bunzl-logoBunzl plc, the international distribution and outsourcing Group, today announces that it has completed the acquisition of two further businesses in Spain and Canada.

quirumedThe Company has acquired Quirumed, S.L. in Spain.  Based in Valencia, Quirumed is principally engaged in the supply of healthcare related products and equipment to an international customer base consisting of medical centres, doctors’ surgeries and other end users throughout Spain and in other countries in Europe.  Revenue in the year ended 31 December 2014 was €18 million.

jan-marBunzl has also purchased Jan-Mar Sales Limited in Canada.  Based in Toronto, Jan-Mar is principally engaged in the sale of cleaning and hygiene supplies to distributors in the region.  Revenue in the year ended 31 January 2015 was C$12 million.

Commenting on the acquisitions, Michael Roney, Chief Executive of Bunzl, said:

“The acquisition of Quirumed is an important development for Bunzl as it takes us into the healthcare sector in Spain for the first time, having previously acquired businesses there in the cleaning and hygiene, safety and foodservice sectors.  The purchase of Jan-Mar complements our existing cleaning and hygiene business in Canada and strengthens our position in the Toronto region.

UK, London & Spain, Valencia & Canada, Toronto

The Quarto Group acquires Lewes Holdings, owner of The Ivy Press

The Quarto Group, the illustrated book publisher and distribution group, is to acquire Lewes Holdings Ltd, the owner of The Ivy Press Limited, through its wholly owned subsidiary, Quarto Publishing plc.  The acquisition is conditional on the approval of Bank of Scotland, lenders to The Ivy Press Limited, to the proposed change of ownership.

Ivy Press is a publisher and packager of creative, highly illustrated non-fiction books. Founded in 1996, Ivy works with publishers and has printed over 20 million books and sold rights in 26 different languages.

The total consideration payable is up to £1.3m plus the assumption of up to £200,000 of debt.  Excluding initial one-off/non-recurring costs in the order of $0.5m, the acquisition is earnings enhancing.  The consideration will be paid in three tranches: on completion, 1 July 2015, and 4 January 2016.

Commenting on the acquisition, Marcus Leaver, Chief Executive Officer of Quarto, said: “We are delighted to welcome the Ivy team to The Quarto Group. We have long admired their creativity and innovation. Ivy’s presence will further underline our Quarto International Co-Editions division as the market leader. Further, we are pleased that Jenny Manstead, one of Ivy’s co-founders, is returning to Quarto after spending time with us earlier in her career.”

UK, London & West Sussex

Reader link acquires Baker & Taylor Marketing Services U.S. and Baker & Taylor Publishing Group

ReaderLinkLogoReaderlink Distribution Services has acquired the Baker & Taylor Marketing Services U.S. (“BTMS”) and Baker & Taylor Publishing Group (“BTPG”) businesses from Baker & Taylor, Inc.

BTMS UK and BTMS Mexico are not included in the transaction and will remain subsidiaries of Baker & Taylor, Inc.

Readerlink is the largest full-service book distribution company to non-trade booksellers in the USA, selling approximately one out of every three trade books sold in the USA. All of the current management and employees of the acquired businesses are joining the Readerlink team, including Sydney Stanley, Executive Vice President and General Manager, who will continue to lead the acquired businesses under Readerlink’s ownership. Sydney will report to Michael Hesselbach, Executive Vice President and Chief Marketing Officer of RDS.

Readerlink will be acquiring BTMS’ 504,000 square-foot Indianapolis, Indiana distribution center, as well as its general offices in San Diego, California, and its editorial offices in Ashland, Oregon.

In the near future, BTMS will re-brand to Readerlink Marketing Services, and BTPG will re-brand to Printers Row Publishing Group. The individual publishing imprints, Silver Dolphin, Thunder Bay, Canterbury Classics and Portable Press will not be re-branded.

“We believe that the businesses’ talented management team, dedicated employees and world-class wholesale club partners distinguish them as leaders in their respective verticals,” said Dennis E. Abboud, President and C.E.O. of Readerlink. “This transaction provides us with additional assets and expertise to continue our long-standing, proven commitment to customer service and to help us and our new retail partners succeed in a dynamic and evolving book market.”

USA, Oak Brook, IL

Sagentia Group acquires Oakland Innovation

Sagentia Group plc has acquired Oakland Innovation Limited, an R&D consultancy specialising in technology innovation and market intelligence for the global consumer and healthcare markets.

Founded in 1989 by Managing Director, Michael Zeitlyn, Cambridge-based Oakland employs 47 staff, of which approximately two-thirds are PhD qualified.  Michael Zeitlyn, and Jennifer Brown, Sales Director and shareholder, will remain with the business. Oakland will be integrated into Sagentia’s Technology Advisory Division.

In the year to 31 December 2014, Oakland generated revenue of approximately £3.9 million and profit before tax of approximately £0.7 million.  Net assets at completion were approximately £0.5 million including £0.7 million in cash.  These figures are all unaudited.  The total cash consideration of £5.0 million will be satisfied as to £3.6 million in cash on completion (payable out of Sagentia’s existing cash resources) and as to £1.4 million satisfied by the sale of Sagentia’s treasury shares, equivalent to 1,043,333 Sagentia shares at the average closing mid-market price of 130.7 pence on the five dealing days immediately prior to completion.  The Sagentia shares are subject to lock-in periods of between 18 months and three years.  There is no deferred consideration.

The total number of ordinary shares in issue (excluding treasury shares) following this announcement is 38,379,948.  Sagentia holds 3,682,087 shares in treasury. Following this announcement the directors of Sagentia Group plc have interests in the ordinary shares of the Company as follows:

No of shares owned

% Holding

Martyn Ratcliffe

12,512,906

32.60%

David Courtley

375,000

0.98%

UK, Cambridge

NAHL Group acquires Fitzalan Partners

national accident helplineNAHL, the UK consumer marketing business focused on the Personal Injury market, operating under the National Accident Helpline brand, has acquired Fitzalan Partners. The Group is paying up to £4.3m for Fitzalan made up of an initial cash consideration of £3.0m and a further cash of up to £1.3m prior to 31 December 2015 dependent on certain conditions being met. Fitzalan reported Profit before Taxation of £0.7m for the year to 31 July 2014.  

Based in London, Fitzalan, which was founded in 2011, is an online marketing specialist that uses proprietary technology platforms to target home buyers and sellers in England and Wales and offers lead generation services to panel law firms and surveyors in the conveyancing sector, providing them with confirmed instructions rather than partially qualified leads. 

Russell Atkinson, CEO of NAHL, commented: “As we highlighted at the time of our IPO, strategic acquisitions are a key part of our growth strategy and we are delighted with the acquisition of Fitzalan.  The acquisition offers NAHL the opportunity to extend its reach into the conveyancing market and utilise its competitive advantage and skill set from the PI market to take advantage of the significant growth opportunities already identified.”

UK, Kettering & London

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