Management buy out of Origin Publishing
Momentum advised the management team of Origin Publishing Ltd on their management buy-out from BBC Worldwide.
Deal value
£15 million buy-out
Client's view
Momentum delivered a fantastic result for our team, successfully guiding us through the BBC’s bid process. Momentum also negotiated a very competitive finance package with the right balance of debt and equity. Momentum's commitment to ensuring high levels of partner time on the deal was a real differentiator and I am in no doubt that Rob and Tony's personal involvement throughout all stages of the deal was key – they did a great job.Andy Marshall, Managing Director
Overview
Origin is a specialist consumer magazine publishing business. The magazine portfolio includes craft titles, hair interest titles and specialist hobby titles including the award winning "220 Triathlon" title.
Origin Publishing was purchased in a deal that saw the management team acquire a majority equity interest in the business. Debt was provided by HSBC and BBC Worldwide retained a minority equity interest.
Key features
- The management team achieved a majority equity stake in the deal.
- The MBO was successfully negotiated in competition with a comprehensive auction of the business and was structured to be the most attractive option for BBC Worldwide.
- Momentum assisted with business planning, formulating detailed financial forecasts, deal negotiation as well as overall project co-ordination.
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