MBO is the right medicine for healthcare publisher

  • mar. 2007

Campden Publishing, publishers of Nursing In Practice, The New
Generalist and Hospital Healthcare Europe, has been acquired from
its founders in a £6 million management buy-out
(‘MBO’) of the 18 year old company.

John Pettifor, the Managing Director leading the buy-out, joined
Campden in early 2003 at the request of co-founders John Learmonth
and Jonathan Regan as part of a planned phased exit. Livingstone
helped negotiate John’s investment in Campden in 2003 and has
now delivered this latest deal on behalf of the management
team.

He comments “It became clear in the middle of 2005
that the original founders were ready to exit and I felt sure that
Campden’s growth potential would be very attractive to
venture capitalists with an understanding of the Media
sector”.

“This MBO is the culmination of a considerable amount
of effort by the management team and Livingstone whose dedication
over an extended period has made this deal
happen”.

John adds “I have enjoyed a most fruitful
relationship with Livingstone since we started working together on
the partial buy-in of Campden Publishing three years ago. At a very
early stage Livingstone demonstrated an excellent grasp of the
dynamics of Campden’s publishing business based on their
successful track record in media
generally”.

Livingstone’s Technology and Media sector team identified a
short list of qualified investors and narrowed the field to a clear
favourite: a consortium consisting of Matrix Private Equity and the
London-team of international Media and Technology investor
Beringea. HSBC provided new banking facilities as part of the
deal.

Alex Sheffield, director at Livingstone comments:
“With the backing of the incoming private equity
investors, John and his team are now poised to further develop this
highly scaleable business in its exciting niche
markets”.

He adds: “This is the third buy-out in the media
sector on which Livingstone has advised in the last twelve months,
having previously worked on the buy-outs of John Brown Citrus
Publishing, backed by Bridgepoint Capital, and of Penton Media,
with funding from NVM”.

Alex Sheffield, director
Tel: 020 7484 4734
Email: asheffield@livingstonepartners.co.uk

Graham Carberry, deal leader
Tel: 020 7484 4728
Email: gcarberry@livingstonepartners.co.uk


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