Integrated business to business (B2B) media company Penton Media
Europe (PME), has announced the successful completion of it’s
management buy out from parent company Penton Media Inc.
PME is a leading integrated business-to-business media and
exhibition company specialising in the IT, internet and leisure
sectors. Initially focused purely on exhibitions, the
company’s range now includes magazines, online events and
roadshows as well as niche business trade shows and conferences.
Key events include Leisure Industry Week, Internet World and
Corporate finance boutique Livingstone advised the management team
and the private equity funders Northern Venture Managers (NVM), to
whom they introduced the deal.
Andy Center, who led the MBO team, comments: “We were initially
sceptical of taking on professional advisers, but soon realised
that Livingstone would be pivotal to the transaction happening. We
could not have gone into the negotiations in a better position. We
were confident we were receiving the best advice
“Within a few weeks of meeting Livingstone director, Alex
Sheffield, we started treating him as one of us, and that is the
biggest compliment I can pay him. At the end of the day they stuck
to everything they promised and they delivered”.
Alex Sheffield comments: “Andy and his team have a strong
track record of successfully growing B2B media businesses. This
made the MBO an attractive proposition for private equity backers,
who continue to demonstrate strong interest in investing in the
media sector. We were able to generate significant interest from
the private equity community before agreeing a transaction with
Northern Venture Managers”.
The transaction is a further example of Livingstone’s
activity in the media sector, having advised on the MBO of John
Brown Citrus Publishing, backed by Bridgepoint Capital, less than
six months ago.
Peter Hodson, the investment manager leading the transaction for
NVM, said: “PME represents a great investment for NVM. Andy
heads up a first rate team who have positioned the business to
benefit from the improving market conditions within IT and leisure.
We are delighted to support their expansion plans and look forward
to partnering the team during the coming years”.
Alex Sheffield, Director
Tel: 020 7484 4700