Momentum, the Bristol-based corporate finance provider, has advised the shareholders of Origin Publishing on its sale to BBC Magazines as part of a larger deal with the publisher’s new owner Exponent Private Equity.
Momentum backed Origin’s management buyout in 2006 when it was lead adviser to the management team.
Origin’s wide-ranging portfolio includes craft, hair interest and specialist hobby titles including the award winning 20 Triathlon. The Bristol-based business employs 70 staff and generated operating profits of £1.1m on revenues of £11.4m in the year to March 31.
The management team, led by managing director Andy Marshall and finance director Graham Rose, took a majority stake in the business at the time of the original buyout.
Momentum partner Rob Crews said: “Once again Momentum has successfully advised a management team throughout the complete equity life cycle, helping management to acquire the business and then complete a successful exit.
“Working alongside the business from inception of the buyout through to the completion of the eventual sale is our speciality. Simply getting a buyout completed does not create value – it needs to be a deal on the right terms, structured with the appropriate levels of debt and equity. I’m delighted that our track record of successful deals is testament to this long term approach.”
Origin managing director Andy Marshall added: “Momentum delivered the result we were looking for when we first began working with them back in 2006. Since the original management buyout, they have been with us throughout the entire journey, always being available to provide advice and assistance.
“The support over the past five years has been invaluable. We wanted the personal and long-term approach which Momentum offered and we would unreservedly recommend them to any management team considering a buyout or company sale.”
The deal follows on from Momentum’s £75m sale of Tocris Bioscience and the £19m sale of Response One.
