Briefing Media undergoes MBO
Kester Capital has sold Briefing Media, the publisher of Preston-based Farmers Guardian, to the company’s management. No financial terms were disclosed.Lyceum Capital has backed the buyout of Briefing Media as a well as a portfolio of other online and print agriculture brands and events including Agrimoney.com, providing an exit for Kester Capital.
Briefing Media has 80 staff across offices in Preston and London and reported revenues of £13m in the year to December 2014, up from £11m a year earlier.It also owns a number of events and exhibitions including the UK's largest agriculture event LAMMA and the British Farming Awards, and operates the Media Briefing, which provides strategy insight and market intelligence for senior decision-makers in the media industry.
Lyceum, which has invested alongside the management team, will support Briefing Media in its strategy of organic and acquisitive growth through providing premium paid-for content, including online portals Agrimoney and FG Insight, marketing services and advertising, and industry events and exhibitions.Neil Thackray, co-founder and chief executive of Briefing Media, said: "Kester Capital has been a supportive partner for us as we have grown Briefing Media over the past three years, providing us with the backing to build a leading portfolio of assets that offer those in the UK agriculture industry an unrivalled range of information, services and events. "The business is now well-positioned for its next phase of growth. With their track record of supporting management teams and offering the expertise and financial backing to make complementary bolt-on acquisitions, we felt that Lyceum was the perfect new investment partner."