Travers Smith LLP has advised longstanding client Exponent Private Equity ("Exponent") and other selling shareholders on the sale of Immediate Media Co ("Immediate") to Hubert Burda Media ("Burda").
The Travers Smith team was led by Private Equity partner Ian Shawyer and also included senior private equity associate Alex Dixon and private equity associates Tom Hartwright, Alexander Cohen-Santi and Alexandra Elkins. Commercial partners Richard Brown and Ben Chivers advised in relation to commercial contracts and intellectual property matters, Finance partner Donald Lowe and associate Daniel Domb advised in relation to banking matters and Tax partner Russell Warren advised in relation to tax.
Immediate, formed in 2011 by Exponent and management upon the merger of a number of media platforms, is the UK’s leading and fastest-growing special interest content and platform company. It is home to some of the UK’s best-loved brands – including Radio Times, the most profitable magazine media brand in the UK. Immediate engages over 19 million consumers each month, offering them world-class content and innovative new products and services, including e-commerce and TV shopping.
Burda, headquartered in Germany, is a technology and media company with over 540 brands world-wide. Today, the corporation is one of Germany’s largest technology and media companies with an international presence and a global reputation. Burda has a long-standing track record of owning and managing major magazine titles in all parts of the globe.
The deal value is confidential.
Travers Smith acted for Exponent on the formation of Immediate in 2011 and have acted for Immediate since then, including on the acquisition of sport and craft titles from Future Publishing in 2014.
Tom Bureau, CEO of Immediate Media Co comments:
“Since we formed Immediate with Exponent in 2011, we have created a dynamic, thriving business. We have grown revenues and profitability substantially, and have invested in people, technology and business models. The business is primed for further growth, and I am happy that we have found a partner that shares our vision for growth and innovation. Burda is an exciting, global business and we are delighted to become part of their network of entrepreneurs.”
DC Advisory provided corporate finance advice to the selling shareholders. Mark Bertram of Olswang advised Burda.