Kester Capital announces second refinancing of Briefing Media
08 December 2014
Following a sustained period of profit growth and cash generation, Kester Capital is pleased to announce the second refinancing of Briefing Media. Barclays provided a new term loan the proceeds of which were used to repay shareholders. Following this second shareholder payment, Kester Capital has realised 1.3x cost on its original investment in Briefing Media.
Kester Capital: Cameron Crockett on +44 20 3747 5700
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.
About Briefing Media
Briefing Media was established to acquire business-to-business media assets with strong market positions. During Kester Capital's ownership, Briefing Media made five acquisitions across three sectors: agriculture, healthcare and media strategy. Briefing Media's agriculture assets formed the UK's leading agriculture information and events group.
Briefing Media was sold to Lyceum Capital in July 2015, delivering an unlevered return of 3.4x to Kester Capital funds and a 57% IRR.