Kester Capital announces sale of Briefing Media
13 July 2015
Kester Capital is pleased to announce the sale of Briefing Media to its management team, backed by Lyceum Capital.
Kester Capital originally acquired the Briefing Media assets from UBM plc in early 2012 and supported the follow on acquisitions of LAMMA in 2012 and AgriMoney in 2014. The exit is the third from Kester Capital’s first fund and generated a 3.5x money multiple and a 57% IRR.
Commenting on the deal, Cameron Crockett, a founding partner of Kester Capital said, “We would like to thank the management team, led by Neil Thackray, Rory Brown and Rupert Levy, for their exceptional work over the last three years. It has been a pleasure to partner with such an outstanding team and we wish them, the wider team and Lyceum every success for the future.”
Neil Thackray, CEO of Briefing Media said, “Kester Capital have been great investors and perhaps most importantly terrific partners for Briefing Media. They backed an ambitious plan and supported us all the way. Together we have been able to achieve a great result for shareholders and a very positive future for our business.”
Kester Capital was advised on the transaction by Clarity, the Jordan Edmiston Group (JEGI) and Travers Smith. Grant Thornton and Plural Strategy Group provided due diligence services.
About Kester Capital:
Kester Capital is a mid-market UK private equity firm investing in businesses with an enterprise value of £10-50 million. It was established in 2007 as Greenhill Capital Partners Europe, the European private equity arm of Greenhill & Co.
For further enquiries please contact:
Cameron Crockett or Adam Maidment
Kester Capital LLP
+44 (0)20 3747 5700