UK - Matrix reaps 4x money on £10m Tottel sale

The sale generates £3m proceeds for Matrix VCT shareholders, a return of 4 times money on the original £750,000 investment. MPEP acquired Tottel in October 2004 from LexisNexis, a subisidiary of Reed Elsevier. MPEP's strategy at the time was to build a much larger publishing business, partly through the publication of new titles and partly via the acquisition of compatible lists.

Based in Haywards Heath, Tottel publishes books for lawyers, accountants and business professionals. The company is named after Richard Tottel, who established one of the first and most successful legal publishers in Fleet Street in the 1550s. Over the course of the investment, annual turnover has grown by 80% to £6.2m and the number of staff has increased from seven to 27.

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