Travers Smith LLP has advised long-standing client Exponent on its buyout of Dennis Publishing.
The Travers Smith team was led by Private Equity Partners Ian Shawyer and Lucie Cawood and also included Private Equity Senior Counsel Alex Dixon, Private Equity Senior Associate Victoria Bramall, and Private Equity Associates Robert Coward and James Thomson. Finance Partner Donald Lowe advised on financing matters, Tax Partner Russell Warren advised in relation to tax, and Commercial, IP and Technology Partner Richard Brown advised in relation to IP issues.
David McGovern of Exponent said: “We believe that there is a significant opportunity to grow [Dennis’] print and digital platforms, which will allow it to reach and engage even more readers and customers. We look forward to combining their expert knowledge with our own deep experience in consumer media and e-commerce to help further develop Dennis’ strong market positions and build on Felix Dennis’ legacy.”
The proceeds of this sale go to the Heart of England Forest (HoEF), a charity which Felix established during his lifetime. This endowment will enable the charity to create Felix's ambitious vision -- planting and maintaining the largest, contiguous, broadleaf, woodland for public enjoyment that the UK has seen in a century. The sale ensures not just a bright future for all involved but will create a lasting and important legacy for future generations."
This is the first investment from Exponent's fourth fund.
Travers Smith previously advised Exponent on the sale of both Trainline and Immediate Media, and the acquisition of Racing Post.