Media 10 acquires Pro Publishing Media & Events

Media 10Media 10 has acquired Pro Publishing Media & Events Ltd, originally founded by Clara Perry in 2007. The terms of the transaction were not disclosed.

The acquisition will bolsters Media 10’s offering within the kitchen and bathroom sector. Brands include luxury consumer magazine Utopia Kitchen & Bathroom, trade magazine Designer Kitchen & Bathroom, and the Designer Kitchen & Bathroom Awards event. Digital brands kb-eye.com and kb-network.co.uk also form part of the portfolio, as well as The d List, the Designer Guides and the Utopia Supplements.

All brands will continue to be headed up and managed by Perry under a directorship role of the newly formed kitchen and bathroom division at Media 10 Ltd.

Media 10 CEO Lee Newton said, “With over a million people visiting our events each year from both the trade and consumer markets, we are delighted to be able to join forces with Clara and her excellent team; this partnership puts us in a unprecedented position where all products can take advantage of each other’s strengths to continue to build strong brands across all media platforms within the kitchen and bathroom industry.”

UK, Loughton & Colchester

Future plc acquires Newbay Media

FUTURE-logo-Future plc, a global platform for specialist media, has acquired Newbay Media LLC, a US based information and events business, for an initial net consideration of $12.25 million (£8.62 million) cash and $1.55 million (£1.09 million) shares, with a further potential deferred consideration of up to $5.60 million (£3.94 million) in January 2019, depending on the future performance of the acquired business.

Newbay’s information and events business operates in three verticals: Television & Video, Entertainment & Educational Technology and Music. Newbay’s brands include Music Week, Twice and Broadcasting & Cable. Newbay generated EBITDA of $4.2 million in the year ending 31 December 2017.

The acquisition has been funded in part by an increase in Future’s debt facilities of £5m with the remainder of the cash consideration, as well as the expected cash consideration of the acquisition of the Haymarket titles recently announced, funded out of existing debt facilities

The initial share consideration constitutes 283,692 new ordinary shares of 15p each (the “Consideration Shares”) with a holdback on a potential further 18,303 shares. The Consideration Shares will be subject to lock-up restrictions for a period of three months from the date of issue.

Zillah Byng-Thorne, CEO of Future, commented: “This acquisition strengthens our presence in the US, and together with our recent UK acquisition expands our market leadership in music and consumer electronics. Newbay’s B2B titles, including those in audio visual and television broadcasting, will further diversify our revenue streams whilst bringing additional valuable B2B experience to complement Future’s B2C businesses.

UK, London & USA, New York, NY

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GlobalData to acquire Research Views for £90M

GlobalDataGlobalData Plc has agreed to acquire Research Views Limited for £90 million.  Research Views is controlled by GlobalData Chief Executive Officer Mike Danson amongst other shareholders.

Research Views is a portal for Oil & Gas and Power news and analysis. In FY17 the Research Views generated pro forma revenues of approximately £27.0m (an increase of 18.8% over the prior year) and EBITDA of £2.1 million.

Under the terms of the Acquisition, 15,957,447 new Ordinary Shares will be issued to the vendors of Research Views Limited (15.6% of the Existing Ordinary Shares), which equates to £90.0 million based on the volume weighted average price of an Existing Ordinary Share of 564 pence over the 30 days prior to the announcement of the possible acquisition.  GlobalData’s share price at the close of business on 23 February 2018, the last business day before the original announcement of the possible acquisition, was 547.5 pence.

In addition, net debt of £9.8 million will be assumed by the Company on Completion, which includes shareholder debt of £8.4 million. The Company will procure that the shareholder debt is repaid by the Research Views Group to Michael Danson and his associated companies on completion (such repayment to be funded by the Company’s existing banking facilities).

Commenting on the Acquisition, Bernard Cragg, Chairman of the Independent Committee of GlobalData, said: “This transaction consolidates the Group’s transformation into a global data and analytics business with a truly differentiated multi-industry offering. It is consistent with our focusing on data and analytics by strengthening our existing industry offerings and expanding the industries we cover.”

Completion is expected to occur following the General Meeting on 24 April 2018.

 UK, London

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Moneysupermarket.com to acquire home communications comparison business Decision Technologies

moneysupermarket1Moneysupermarket is to acquire Decision Technologies Limited, a home communications and mobile phone comparison business, for £40 million.

Decision Technologies, known as Decision Tech, provides home communications comparison both as a B2B service and via its own consumer comparison brands such as broadbandchoices.co.uk. As a white-label provider, Decision Tech sits behind several of the UK’s comparison tools for home communications, including Moneysavingexpert.com. 

Decision Tech is headquartered in London and employs a team of over 40 staff. The business is forecasting £3.6 million adjusted EBITDA for the year to 31 March 2018. Following completion, Michael Phillips, Founder and CEO, and the Decision Tech management team will join the Group and continue to lead Decision Tech from their current offices in Holborn.

Mark Lewis, Moneysupermarket Chief Executive Officer, said: “Decision Tech is one of the UK’s leading platforms for helping consumers compare and choose home communications, broadband and mobile phone deals.  This is an area people find complex and confusing, and where there are plenty of savings to be made by customers”.

 UK, London

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Phoenix invests in Capital Economics

Phoenix Equity PartnersPrivate equity firm Phoenix Equity Partners has acquired a controlling stake in independent research company Capital Economics. Phoenix’s investment, which values the business at circa £95m, will be made alongside the existing management team and shareholders. Roger Bootle will retain a significant stake in the business.

Capital Economics is one of the leading independent macro-economic research companies in the world. Their team of more than 60 experienced economists provide award-winning macro-economic, financial markets and sectoral analysis, forecasts and consultancy from offices in London, New York, Toronto, Singapore and Sydney. The business provides research subscriptions, data and events to approximately 1,500 global institutions.

Capital Economics’ existing backer LDC, the private equity arm of Lloyds Banking Group, will exit its minority stake. Since their investment in October 2014, the business has grown revenues by 30% to over £22.5m in its latest financial year, launched several new services and opened new offices in New York and Sydney. It has expanded the team by 30% to over 140 employees across its five locations.

The investment by Phoenix will allow Capital Economics to continue to accelerate its growth. Phoenix’s support will enable investments in new services and in technology to enhance and personalise client delivery. A number of potential acquisitions have also been identified.

Chris Neale, Partner at Phoenix, said: ‘Capital Economics is an exceptional business with outstanding economists and staff, and an unrivalled reputation for macro-economic insight. It has grown every year since inception, building up a global base of loyal repeat clients. Demand for high quality, independent research continues to increase and we are excited about the future potential of the business. We look forward to working with Bob and the team to help accelerate growth over the coming years.’

UK, London

Informa publishes documents relating to recommended offer for UBM

In January Informa and UBM announced the creation of combined B2B Information Services Group through an offer for UBM by Informa.

InformaInforma has now published information on the background and reasons for the Offer, the financial benefits, Informa’s intentions and strategic plans and the actions to be taken by shareholders. They have also published a Prospectus relating to the new shares to be issued to UBM shareholders by Informa in connection with the Offer, and the application for admitting new shares to the premium segment of the Official List and to trading on the London Stock Exchange’s main market for listed securities.

The information is available on Informa’s website HERE.

UBMIn addition, UBM has published its scheme document today, which contains, amongst other things, a letter from the Chairman of UBM, the full terms and conditions of the Scheme and the Offer, notices convening the Court Meeting and the UBM General Meeting, details of the Mix and Match Facility, an expected timetable of principal events and details of the actions to be taken by UBM shareholders. The Court Meting and the UBM General Meeting will take place on the same day as the Informa General Meeting.

The Scheme Document is available on the UBM website HERE.

Completion of the Offer is expected to occur in the second quarter of 2018.

UK, London

Silver Lake Partners and Battery Ventures to acquire EDR from DMGT for $205M

Silver LakeSilver Lake and Battery Ventures have agreed to acquire EDR, a leading provider of real estate data and software-as-a-service, from the Daily Mail and General Trust plc for $205m. The investors areBattery Ventures global, growth-oriented firms focused on partnerships with market-leading technology companies. The transaction is expected to close in the coming weeks and is subject to
customary closing conditions.

EDR is a leader in property due-diligence and risk management technology and information. The company’s solutions enable clients — including environmental consultants and engineers, appraisers, and lenders — to manage real estate due diligence processes efficiently and effectively.

Joe Osnoss, Managing Director at Silver Lake, said, ”The real estate sector is continuing to evolve with the introduction of new technologies. EDR has a rich history of thought leadership in this area, and we plan to invest behind the company’s developing product roadmap to serve its important client ecosystem.”

Battery Ventures General Partner Scott Tobin added, ”We look forward to working closely with Chris Aronson and EDR’s management team. We believe that our investment will enable EDR to accelerate growth — including in the state-of-the-art Collateral360 SaaS platform — and extend its reputation as a leader in real estate data and software with a developing range of products and services.”

UK, London & USA, Shelton, CT

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