Harwood PE buys two music magazine brands
Harwood Private Equity has acquired the rock magazine brands Classic Rock and Metal Hammer from listed media group Future for £10.2m.
The acquisition was completed through a newly created company, TeamRock, a multimedia content creation and distribution business.
Company
Founded in 1985 and listed on the London Stock Exchange, Future is an international media group. The company has operations in the UK, US and Australia and has 200 specialist publications, apps, websites and events.
Classic Rock is a monthly magazine dedicated to classic rock music, focusing on music from the 1960s to early 1990s. The magazine published its first issue in 1998 and in 2004 began its annual awards program, The Classic Rock Roll of Honour Awards.
Metal Hammer is a monthly heavy metal music magazine. The publication launched its first issue in 1986 and also organises an annual awards ceremony, The Golden Gods.
The sale includes all brand extensions of the magazines as well as the branded events.
People
Jeremy Brade led the transaction for Harwood Private Equity.
Advisers
Equity - Trillium Partners (Corporate finance).
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