LDC backs management buyout of PEI Media Group

The GP also currently owns Real Deals – a competitor to PEI's Private Equity International publication – having bought the title's publisher Caspian Media in January 2002.

The PEI transaction comes hot on the heels of BC Partners-backed Mergermarket's acquisition of Incisive Media's private equity portfolio, comprising the unquote" and Asian Venture Capital Journal titles.

LDC will take a significant minority stake in PEI via the deal, while the group's original founders David Hawkins and Richard O'Donohoe also remain minority investors. Furthermore, Hawkins and O'Donohoe will take on non-executive director roles at the company.

Following completion of the deal, PEI will invest in new product development and look to expand its distribution across the EMEA, US and Asian markets.

Company
Founded in 2001 and headquartered in London, PEI is a publishing company with brands including Private Equity International, Private Funds Management and Real Estate Capital. The company has additional operations in Hong Kong and New York, with a total headcount of 150.

PEI has experienced annual revenue growth of 21% between 2012 and 2015, with compound annual EBITDA growth of 52% in the same period.

People
LDC investment director Chris Neale led the deal, alongside Troy Harris-Speid and Rob Apollo. Tim McLoughlin is chief executive of PEI.

Advisers
Equity – Quayle Munro (M&A), PwC (Corporate finance), Alvarez & Marsal (Other due diligence); CMS Cameron McKenna (Legal).
Company – Livingstone Partners, Richard Fetterman (Corporate finance); Squire Patton Boggs (Legal).
Management – Liberty Corporate Finance (Corporate finance); Pinsent Masons (Legal); PwC (Corporate finance).

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• Buyouts
• UK / Ireland
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• United Kingdom
• LDC