Wilmington Group plc has acquired the trading assets of Inese, the provider of information and events to the insurance industry in Spain, from Reed Business Information for a net consideration of €1.4m in cash. The consideration will be financed out of the Group’s existing £65m multicurrency debt facility.
Inese was established in 1892 and was acquired by RBI in 2000. Inese is a leading provider of Spanish language subscription based 
publications, online services for the Spanish Insurance Industry along with a number of annual events including the leading industry congress; “Insurance Week”. Inese also operates a digital news service in Latin America.
Approximately 40% of Inese’s revenue is derived from subscriptions, and a further 30% from annual awards and events. Throughout the last 3 years revenue has been stable and the business has enjoyed overall renewal rates on its subscription base of around 90%. Approximately 30% of total revenue is delivered digitally. In the year to 31stDecember 2012 Inese made a profit before taxation of €0.7m*1 and had gross assets of €0.8m.
The Business will form part of the Wilmington Pensions and Insurance Division and will work closely with the Axco insurance information business, providing Axco with access to Spanish language insurance markets.
UK, London & Spain, Madrid
Related articles:
1. Wilmington
- A Fusion Deal: Wilmington Group acquires NHiS Posted on February 11, 2013
- Wilmington Group reports full year results for the year ended 30 June 2012 Posted on September 18, 2012
- Wilmington Group plc to acquire Axco Insurance Information Services for upto £22 million Posted on September 28, 2010
- Wilmington Group acquires Millennium ADMP Posted on May 18, 2012
- Wilmington in talks to acquire Dods Posted on July 4, 2010
- Wilmington Group – Full Year Results Posted on September 20, 2011
2. RBI
- UK: RBI’s Variety Group to acquire TVtracker Posted on June 29, 2011
- Air Business acquires subscription and publishing services bureaux Quadrant Subscription Services from RBI Posted on June 1, 2011
- TechTarget completes acquisition of Computer Weekly from Reed Business Information Posted on April 29, 2011
- TechTarget to acquire Computer Weekly from Reed Business Information Posted on March 29, 2011
- EPPG acquires Reed Business Information GmbH Posted on April 20, 2010
- RBI-US sells Publishers Weekly to former publisher George Slowik Posted on April 6, 2010
- Sandow Media acquires Interior Design and Furniture Today from Reed Business Information-US Posted on March 19, 2010
- Reed Business Information-US sells School Library Journal and Library Journal to Media Source Posted on March 1, 2010
- Canon Communications acquires design engineering media properties from RBI-US Posted on February 16, 2010: Updated on March 1, 2010
Fusion Corporate Partners 
You must be logged in to post a comment.