A Travers Smith team led by head of Private Equity, Paul Dolman has advised long standing client Kester Capital LLP ("Kester") and management on the sale of Briefing Media to a Newco backed by Lyceum Capital.
Briefing Media was established to acquire business-to-business media assets with strong market positions. To date, it has made four acquisitions across three sectors: agriculture, healthcare and media strategy. Briefing Media's agricultural assets form the UK's leading agriculture information and events group.
The exit is the third from Kester's first fund and generated a 3.4x money multiple and a 56% IRR.