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Matrix completes GBP4m MBO of environmental media business

Matrix Private Equity Partners has invested in the GBP4m management buy-out of Faversham House Group.



Faversham is a multi-media business that publishes B2B magazines such as Utility Week, Europe’s largest environmental website www.edie.net and stages the UK’s no.1 environmental exhibition, SustainabilityLive!.

Matrix is investing GBP1.75m and will take a significant minority stake in the business. This is Matrix’s seventh investment in the media and publishing sector following its recent investment in recruitment business RDL.
 
Faversham employs over 100 people and is forecasting revenues of GBP10m in the current year.
 
Chris Price, investment manager of Matrix who led the deal, says: “Faversham is uniquely placed to benefit from both the strong growth in the environmental sector as well as the continuing media shift towards online assets. Management have demonstrated the ability to grow by acquisition and we look forward to supporting their strategy to develop Faversham into an integrated media player in a number of attractive verticals.”
 
Amanda Barnes, chief executive of Faversham, adds: “We are very pleased to have partnered with Matrix and were impressed by their track record of growing businesses within the publishing and media sector.  With Matrix’s investment we are now able to take our business up a gear and implement a strong organic and acquisitive growth strategy.”

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