Horizon Capital hires Houlihan Lokey for AgriBriefing sale

The process is at an early stage, with non-binding offers due in mid-November, one of the sources said. London-headquartered AgriBriefing provides price reporting, data and intelligence for the agriculture commodity market.

AgriBriefing, which first received investment from Horizon in 2015, is being marketed off EBITDA of roughly GBP 10m-12m, according to the sources. US-based growth investor General Atlantic and EQT could be among logical suitors for the business, an advisor following the situation suggested.

AgriBriefing generated revenues of around GBP 24.7m for the year to December 2021, down from GBP 27.7m recorded in the same period the year before, according to company filings. Adjusted EBITDA fell to GBP 6.5m from GBP 7.6m in the period.

Formally known as Briefing Media, the company has repositioned itself as a price reporting agency following its disposal of agricultural publication Farmers Guardian and machinery and equipment trade show Lamma to Arc Media last year for GBP 20.1m.

AgriBriefing's management completed a buyout of the company with financing from funds managed by Ares Management and Horizon in June 2019 in a process advised by Raymond James. Charterhouse Capital, ECI, Silverfleet and B2B information group Euromoney were also said to have expressed interest in AgriBriefing in the past, according to earlier Mergermarket intelligence.

Established in 2012, AgriBriefing has offices in the UK, France and North America.

Representatives for Houlihan Lokey and AgriBriefing declined to comment. Horizon did not respond to requests for comment.

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• Topics
• Exits
• UK / Ireland
• Media
• Houlihan Lokey
• Horizon Capital (formerly Lyceum Capital)
• Mergermarket