Centaur Media Plc is to sell its business-to-consumer division, Home Interest for £32 million to Future plc and at the same time, acquire MarketMakers Incorporated Limited, an integrated marketing services businesses, for an initial consideration of £13.4 million with a deferred earnout amount based on EBITDA performance.
The proceeds from the sale of Home Interest will be used to pay for the acquisition of MarketMakers. Therefore completion of the acquisition is conditional on completion of the sale.
MarketMakers had revenues of £11.4 million and adjusted EBITDA of £1.7 million for year ended 31 December 2016. It is ranked as the No.1 telemarketing agency in the UK by B2B Marketing and has achieved growth in revenues of 27% over the last three years.
Centaur’s Home Interest division includes Homebuilding & Renovating, Period Living and Real Homes.
The transactions help Centaur focus on becoming a B2B digital, business intelligence and events company and to reduce its reliance on print and advertising .
Andria Vidler, Chief Executive, commented: “These transactions are a major step forward in the continuing transformation of Centaur into a B2B focussed business, providing our increasingly professional customer base with a range of higher value-added products and services.
“The process of taking Centaur up the B2B value chain continues, and these transactions are a very significant step forward in our ambitions.”
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