BDC in exclusivity with LDC over PEI buyout

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Bridgepoint Development Capital is in exclusive negotiations to acquire alternative assets media company PEI Media Group from LDC, Unquote understands.

As recently reported by Unquote sister publication Mergermarket, Livingstone Partners is advising the vendor on the sale of the group, which operates brands including Private Equity International, Infrastructure Investor and Real Estate Capital.

According to the Mergermarket report, the business is being marketed based on an EBITDA figure of £10m and is likely to be valued at more than 10x EBITDA. The publication also reports that US-based GP Flexpoint Ford and Bowmark Capital were also involved in the final round of bidding.

LDC backed the management buyout of PEI in September 2015 in a deal estimated by Unquote Data to have been worth between £25-50m.

The vendor also previously owned Real Deals – a competitor to PEI's Private Equity International publication – having bought the title's publisher Caspian Media in January 2002. It sold Caspian to Ridgeway Capital for an undisclosed sum in April 2017.

Bridgepoint and a spokesperson for LDC declined to comment.