Euromoney Institutional Investor plc, the international online information and events group, is expanding its project finance and infrastructure business with the acquisition of Infrastructure Journal.
Infrastructure Journal is an information source for the international infrastructure markets. Its business model is centred on premium subscription content that tracks market activity and is delivered in real-time through its online platform which is accessible from desktops, tablets and smartphones. Infrastructure Journal also runs a portfolio of events which includes conferences, forums and awards attended by senior investment professionals, industry practitioners and advisors. The Infrastructure Journal Awards are held annually in London.
Euromoney is acquiring 100% of the assets of Infrastructure Journal from Top Right Group (“TRG”) for a cash consideration of £12.5 million, funded from its existing committed borrowing facility. The acquisition is expected to be earnings enhancing for Euromoney in its financial year 2014. Infrastructure Journal had revenues of £3.1 million for the year to December 2012. The transaction will complete after the required TUPE (Transfer of Undertakings Protection of Employment) consultation period, expected to conclude by November 1, 2013.
“Infrastructure Journal is a business we have long admired and we are delighted that it is now part of our stable of global brands,” said Richard Ensor, chairman of Euromoney. “With an estimated 57 trillion dollars of investment into infrastructure projects required around the world by 2030, we believe this part of the business-to-business information sector offers attractive growth fundamentals. Euromoney aims to create a comprehensive market-leading infrastructure information provider by combining, under the Infrastructure Journal brand, the deals database and news coverage of Infrastructure Journal and the deals analysis, awards and conferences of Project Finance.”
Duncan Painter, CEO of Top Right Group, said: “Infrastructure Journal is well respected in its sector and delivers valuable insight and expertise to its customers. The skill of the team, investment in content and the launch of new topical forums each year have kept the brand ahead and we are delighted that the Infrastructure Journal name will continue in the marketplace. We believe Euromoney Institutional Investor will be a good long term home for the brand and we wish the business every success in the future.”
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