Wolseley Private Equity has sold its stake in nextmedia to Forum Media Group. No financial terms were disclosed. Also, nextmedia CEO David Gardiner and commercial director Bruce Duncan, will both retain a stake in nextmedia. Based in Australia, nextmedia is a publisher of special interest magazines, websites, books and DVDs.
Leading Australian mid-tier private equity firm Wolseley Private Equity (Wolseley) has sold 100 per cent of its share capital in nextmedia to FORUM MEDIA GROUP (Forum) to position the Australian magazine publisher for further growth.
Outgoing Chairman and Wolseley Managing Director, James Todd, said nextmedia was established five years ago through the amalgamation of three specialist publishers.
“Through subsequent acquisitions and licences nextmedia has expanded its portfolio to more than 40 specialist magazine titles and a range of books, posters, DVD’s, events and websites, enewsletters and digital communications,” Mr Todd said.
“During the past three years the business has delivered outstanding growth and has become Australia’s leading specialist publisher and fourth largest consumer publisher.
“As a result of the transaction Wolseley will sell its stake in the business while the executive team, comprising CEO David Gardiner and Commercial Director Bruce Duncan, will retain a financial interest in nextmedia.
“We have been pleased with our investment in nextmedia and delighted to have invested alongside David and Bruce. We are very impressed with their vision and ability to establish a serious media platform which is well positioned for further growth under Forum’s ownership,” he said.
David Gardiner, who will continue as CEO of nextmedia, said: “Since the establishment of nextmedia we have aggregated and grown the business, both organically and by acquisition and licence. We appreciate the support by acquisition and licence.
“We appreciate the support we have been given by our investors. I am very proud of our team of people at nextmedia, their dedication and passion for our magazines.
“We are all very excited about the partnership with Forum and the opportunities for the business and our staff. We will continue further growth and expansion, driven by a common vision and a strong belief in success.”
The medium sized international publishing company Forum is headquartered in Bavaria, Germany. Forum publishes print and digital offerings in the specialist B2B and consumer sectors and operates in 15 countries employing around 780 people.
Commenting on the new strategic partnership, founder and Managing Director of Forum, Ronald Herkert, said: “nextmedia is a terrific addition to the Forum group and we have plans to continue the growth and expansion of Forum in Australia, both within nextmedia’s existing range of products and business fields, and into new sectors.”
For further information please contact:
James Todd, Managing Director, Wolseley Private Equity (02) 8815 4200
David Gardiner, Chief Executive Officer at nextmedia (02) 9901 6100
Ronald Herkert, Founder and Managing Director at Forum Media Group +49 8233 381 386
About Wolseley Private Equity
Wolseley Private Equity is an independent private equity firm established and owned by its managing directors. It has $350 million of funds under management committed from Australian and overseas superannuation and pension funds and the Wolseley team. Wolseley invests in established Australian and New Zealand companies with enterprise values between $20 million and $150 million. Wolseley’s Bankable CEO© program identifies and partners with accomplished business leaders who are looking to take an ownership stake in a venture they can then run as CEO.
nextmedia publishes over 40 leading special interest publications plus websites, forums, books, DVDs and posters including titles such as Inside Sport, Golf Australia, Tracks, Australian Muscle Car, Bluewater Boats & Sports Fishing, PC PowerPlay, Sound & Image, Camera, Healthy Food Guide and a range of kids’ titles. For more information please visit www.nextmedia.com.au
About FORUM MEDIA GROUP
FORUM MEDIA GROUP specialises in the business fields of information, education and entertainment. Located near Munich, Germany the media group was established in 1988 and is based in 15 countries with 24 independent companies. The product range includes print and online media as well as software products and professional training. About 780 employees are working with FORUM MEDIA GROUP worldwide. For more information please visit www.forum-media.com