A new chapter begins today for Briefing Media
-- Farmers Guardian is a weekly newspaper and website covering the farming and agriculture sector, primarily based in Preston.
-- Pulse is a weekly magazine and website for general practitioners and primary healthcare professionals in the UK, based in London.
The investment was funded by the management team with support from private equity group GCP Capital Partners, a global private equity firm with a strong track record in media investments. GCP's portfolio includes B2B events company World Trade Group and in-flight entertainment provider Travel Entertainment Group.
The total price paid will be £10 million (subject to a working capital adjustment at completion). Cameron Crockett and Adam Maidment from GCP Capital Partners will join the board of Briefing Media Group, which also publishes TheMediaBriefing.com.
The company will invest in the titles (and related products Dairy Farmer & Practical Commissioning) to grow their market position both on and offline. We also plan to accelerate the portfolio of digital, data-led products and physical events.
Briefing Media co-founders Neil Thackray and Rory Brown will lead the new, enlarged group and will be meeting staff at the titles in the coming weeks.
Commenting on the acquisition today Rory Brown said "This is a big day for us, and something we have been working towards for a long time. We see great opportunity in specialist business media markets but recognise that our world is evolving & we need to adapt with it. We look forward to working with the teams on the agriculture and primary healthcare titles as part of our expanded group."
Neil Thackray added "When we founded Briefing Media we had a vision for creating a vibrant new business to business media company. This acquisition gives us both the scale and market opportunity to accelerate that ambition. We are delighted to be acquiring assets with such excellent pedigrees and reputations in important business markets and to be working with GCP Capital Partners. This will be the first but not the last acquisition we plan to make."
Cameron Crockett, partner at GCP Capital Partners, says: "The opportunity to back individuals of the calibre of Neil and Rory to acquire the Farmers Guardian and Pulse operations was an attractive proposition for us.
“Neil and Rory have a long and highly successful track record in the media space.We are delighted to be working with them and are confident in their ability to maximise the potential in these assets. We are strong advocates of buy and build strategies and we will be looking to support them in the acquisition of further businesses in this space."
TheMediaBriefing.com, edited by Patrick Smith, continues to go from strength to strength as well and is firmly part of our plans, with an unrivalled calendar of conferences and seminars on media business strategy, as well as the British Media Awards.
Briefing Media was founded in 2010, with TheMediaBriefing quickly establishing a reputation as a platform for analysis and comment on the fast-changing media business through quality original journalism, aggregation and real-life events. With the company's increased scale we can also accelerate our planned development of complementary sites in other vertical markets.
See UBM's press release on the deal here.
For more information, get in touch with us via our contact page.
* Subject to satisfaction of TUPE conditions