Brothers Edmund and Danny Truell have completed a substantial growth capital investment in Imagine Publishing to support its next phase of global expansion. Imagine Publishing is a UK-based multimedia content publisher.
Brothers Edmund and Danny Truell have completed a substantial growth capital investment in Imagine Publishing to support the next phase of the multimedia publisher’s global expansion.
Imagine Publishing is one of the UK’s fastest-growing multimedia content publishers. Formed in May 2005, it now publishes 19 regular print magazines, 50 digital apps, more than 250 bookazines, 29 websites and thousands of articles every month in the technology, videogames, photography and knowledge/science markets. An Imagine magazine is purchased every ten seconds, and the Company this month won a Media Pioneer award at the Specialist Media Show for the successful ‘Content is King’ digital strategy that has brought its content to all major mobile smartphone and tablet devices worldwide.
In the financial year to March 2013, Imagine delivered revenue of nearly £20m, and was recently named in the Sunday Times Profit Track 100 of the UK’s fastest-growing companies (with 63.04% profit growth in FY 2009-12). The latest investment from the Truell brothers will be used to accelerate Imagine’s global rollout into the major international markets, notably India, the US and Australia, and to cement its position as the leading global multimedia content provider.
The Truells have been investors in Imagine since inception, and following significant new investment will assume the majority shareholding, which sees the Company’s co-founders Damian Butt (Group Managing Director), Steven Boyd (Group Finance & Commercial Director) and Mark Kendrick (Group Creative Director) each retain significant stakes in the business. HSBC has for the third time also provided debt facilities to give further balance sheet strength.
Imagine is now strongly capitalised and well positioned to develop further its pioneering approach to content delivery on a global scale.
Edmund Truell commented: “I’m delighted to continue to back and at a bigger scale an innovative management team who are true mobile device pioneers, being one of the first to put their content on the iPad, and the first to publish all their titles on every platform. The team is now ideally positioned to lead and transform the migration of published content to digital platforms worldwide.”
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Notes to Editors
Edmund Truell has 28 years of financial services experience in private equity and debt markets. Edmund trained at Bankers Trust Co in New York, following which he was appointed a director of the Hambros Bank in 1991; Chief Executive of Hambro European Ventures in 1994; led the 1998 buyout and formation of Duke Street Capital; and was responsible in 2000 for creating and building Duke Street Capital Debt Management. He was Chairman of the British Venture Capital Association from 2001 to 2002. With his brother Danny Truell, in 2006 he co-founded Pension Corporation, a leading provider of risk management solutions to defined benefit pension funds. Its FSA-authorised and regulated insurance company, Pension Insurance Corporation, has over £4 billion in assets under management and has insured 50,000 pension fund members and amongst other achievements was the first to insure the benefits of a public sector pension scheme, as well as transacting the largest ever UK corporate pension insurance buyout. He is qualified as a Chartered Financial Adviser and a Trustee of The Truell Charitable Foundation and the Charles Darwin Foundation. Danny Truell serves as the Chief Investment Officer at Wellcome Trust and is Chairman of the ALM Operating Committee at Pension Insurance Corporation Limited.