£4 million management buy-out (MBO) of Faversham House
Matrix Private Equity Partners (Matrix), the small buyout specialist, has invested in the £4 million management buy-out (MBO) of Faversham House Group Limited (Faversham). Faversham is a progressive multi-media business that publishes B2B magazines such as Utility Week, Europe’s largest environmental website www.edie.net and stages the UK’s no.1 environmental exhibition, SustainabilityLive!. Matrix is investing £1.75m and will take a significant minority stake in the business. This is Matrix’s seventh investment in the media and publishing sector following their recent investment in recruitment business RDL Corporation.
Faversham, a family owned business founded in 1960, has developed into a leading media business providing websites, exhibitions and print publications to the environmental, visual communications, home improvement and building services sectors. The business employs over 100 people and is forecasting revenues of £10m in the current year.
Chris Price, investment manager of Matrix who led the deal comments: “Faversham is uniquely placed to benefit from both the strong growth in the environmental sector as well as the continuing media shift towards online assets. Management have demonstrated the ability to grow by acquisition and we look forward to supporting their strategy to develop Faversham into an integrated media player in a number of attractive verticals.”
Matrix has introduced Operating Partner and serial entrepreneur, Bob Fairchild who will join as Chairman and Jill Williams who joins as FD having performed the same role for successful Matrix investment, Tottel Publishing. Bob, currently Chairman of Matrix investee company ATG Media, is highly experienced in the sector and was previously managing director of Landmark Information Group, which was sold to Daily Mail & General Trust Plc.
Amanda Barnes, CEO of Faversham comments: “We are very pleased to have partnered with Matrix and were impressed by their track record of growing businesses within the publishing and media sector. With Matrix’s investment we are now able to take our business up a gear and implement a strong organic and acquisitive growth strategy.”
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