Kester Capital has sold Briefing Media, a publisher of business-to-business news and information, to the company’s management. No financial terms were disclosed for the transaction that was supported by Lyceum Capital. The Jordan, Edmiston Group Inc and Clarity advised Briefing Media on the deal.
New York, NY, July 13, 2015 – Kester Capital is pleased to announce the sale of Briefing Media to its management team, backed by Lyceum Capital. Kester Capital originally acquired the Briefing Media assets from UBM plc in early 2012 and supported the follow on acquisitions of LAMMA in 2012 and AgriMoney in 2014. The exit is the third from Kester Capital’s first fund and generated 3.4x money multiple and a 56% IRR from on the sale.
Briefing Media was co‐advised by The Jordan, Edmiston Group, Inc. (www.jegi.com), the leading independent investment bank for the global media, information, marketing, software and tech‐enabled services sectors, headquartered in New York, NY, and Clarity (www.claritycp.com), a leading independent investment bank serving the media and technology industries, headquartered in London.
Commenting on the deal, Cameron Crockett, a founding partner of Kester Capital said, “We would like to thank the management team, led by Neil Thackray, Rory Brown and Rupert Levy for their exceptional work over the last three years. It has been a pleasure to have had the opportunity to work with such an outstanding team and we wish them, the wider team and Lyceum every success for the future.”
Neil Thackray, CEO of Briefing Media said, “Kester Capital have been great investors and perhaps most importantly terrific partners for Briefing Media. They backed an ambitious plan and supported us all the way. Together we have been able to achieve a great result for shareholders and a very positive future for our business.”
About Briefing Media
Briefing Media was founded in 2010 by Neil Thackray and Rory Brown with a strategy to build and buy business‐to‐business media assets. Briefing Media operates brands in the agriculture, healthcare and media sectors. The company publishes news and information, provides print and online tools for professionals, and runs events and seminars. For more information, visit www.briefingmedia.com.
About Kester Capital LLP
Kester Capital targets lower mid‐market private equity investments of £5 million to £25 million. The firm was established in 2007 as Greenhill Capital Partners Europe, the European private equity arm of Greenhill & Co, and is currently investing its second fund. Other portfolio companies include Garrets International, Frontier Medical and World Trade Group. For more information, visit www.kestercapital.com.
About Lyceum Capital
Lyceum Capital partners with entrepreneurial management teams and unlocks growth potential by providing capital, operations and development support and help with targeted acquisitions. Lyceum typically invests between £5 million and £50 million of equity in fast‐growing, UK‐headquartered, mid‐sized businesses. Over the last ten years, via its three funds, Lyceum Capital will have invested and provided more than £1.5 billion of funding to grow and develop SMEs in the UK. For more information, visit www.lyceumcapital.co.uk.
About The Jordan, Edmiston Group, Inc.
The Jordan, Edmiston Group, Inc. (JEGI) has been the leading independent investment bank for the global media, information, marketing, software and tech‐enabled services sectors for nearly 28 years.
Headquartered in New York, with offices in Boston and Atlanta, as well as affiliates in London and India, JEGI has completed over 500 high‐profile M&A transactions, serving global corporations; middle‐market and emerging companies; entrepreneurial owners and founders; and private equity and venture capital firms. For more information, visit www.jegi.com.
Clarity is a leading international adviser to media and technology businesses. Headquartered in London, with an affiliate in New York, Clarity executes the full range of corporate transactions on behalf of clients, including company sales, private acquisitions, public company takeovers, mergers, management buy‐outs and buy‐ins, equity and debt fundraisings and joint ventures and strategic alliances. For more information, visit www.claritycp.com.