DVV to acquire Centaur’s HR portfolio for £5M

DVV Media InternationalDVV Media International Ltd is to acquire Centaur Human Resources Ltd from Centaur Media PLC for £5 million. The deal is expected to complete at the end of April.

The sale of the HR business follows the recent disposals of Centaur’s financial services business, including brands such as Money Marketing and Mortgage Strategy, and its travel and meetings exhibitions, including the Business Travel Show and the Meetings Show, which will raise in aggregate £14.25 million. The company announcement reported that negotiations for the sale of other businesses are continuing.

centaur-logoThe portfolio of products includes the website and exhibition covering the employee rewards and benefits sector, Employee Benefits; along with the Forum for Expatriate Management, a service for companies with overseas employees.

“This is a very significant acquisition for our business,” said DVV Media International Managing Director Andy Salter. “Building on the strength of our existing Personnel Today brand, the new additions to the portfolio substantially increase our offering to the HR and recruiter services sector. Both Employee Benefits and the Forum for Expatriate Management have a powerful reputation. This is a perfect fit and we are looking forward to working with the new teams to develop our portfolio further.”

The Centaur HR portfolio consists of the following brands and activities:

  • EmployeeBenefits.co.uk: Digital resource for the UK’s reward and benefits industry, supplying news, analysis and research.
  • Employee Benefits Live: Dedicated reward and benefits exhibition with around 2000 visitors and 100 exhibitors and a comprehensive conference programme.
  • Employee Benefits Connect: Conference for senior reward and benefits decision makers.
  • Forum for Expatriate Management: Worldwide community for global mobility professionals. FEM serves the sector through 3 Confex and Awards events (US, APAC, EMEA), a European Confex, research reports, and through the provision of information and news online.

DVV’s current HR brands and events include Personnel Today, Personnel Today Awards, Personnel Today Jobs, Occupational Health & Wellbeing, WhatMedia and the RAD Awards.

All staff currently employed at Centaur Human Resources are expected to remain with the business and the company will remain in central London at DVV’s office there.

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Centaur Media Plc agrees sale of travel and meetings exhibitions to Northstar

centaur-logoCentaur, the international provider of business information and specialist consultancy, has entered into a conditional agreement to sell Centaur Media Travel and Meetings Limited, the owner of the Business Travel Show and The Meetings Show, to Northstar Travel Media UK Limited, a leading B2B information and marketing solutions company focused on the global travel and meetings industries. Completion of the disposal is expected to take place on 30 April 2019.

The disposal follows Centaur’s decision last October to explore the divestment of its smaller businesses in order to simplify the Group’s structure and to focus management resources on its leading brands. Centaur announced on 1 April 2019 that it has raised £5m from the sale of its financial services business, which includes brands such as Money Marketing and Mortgage Strategy.

Northstar will pay a cash consideration of £9.25m (subject to customary post-completion adjustments) for CTM, which formed part of the Group’s professional services division. Centaur will consider the best use for the sale proceeds following the completion of its divestment review.

Centaur’s professional services division comprises The Lawyer and a portfolio of market leading event brands across three sectors: travel and meetings, human resources and engineering.

Andria Vidler, Chief Executive of Centaur, said, “[This] is another important milestone in Centaur’s ongoing transformation. As we focus on building more robust and stronger recurring revenues, we are reducing Group complexity and overheads that will allow us to deliver efficiencies and improve our operating margins.”

For the year ended 31 December 2018, Centaur’s travel and meetings exhibitions made normalised earnings before interest, tax, depreciation and amortisation operating profit of £1.7m (before central overhead allocations), up from £1.6m in 2017, on revenues of £6.4m (2017: £6.1m). At 31 December 2018, the business had gross assets of £1.7m.

UK, London & USA, Secaucus, NJ

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