Briefing Media, the business behind the Farmers Guardian stable of agricultural publications; the LAMMA and CropTec events; and Agrimoney.com website, has a new investor ready to fund further growth.
Lyceum Capital, a UK-based investment fund, has replaced Kester Capital three years after its original investment. Established in 2010, Briefing Media acquired the Farmers Guardian titles from UBM in 2012 and reported 2014 revenues of £13 million (£11m in 2013). It employs 80 people across offices in Preston and London.
Lyceum says it will support Briefing Media’s management team owners’ strategy of organic and acquisitive growth through providing premium paid-for content across print; the online portals Agrimoney and FG Insight; marketing solutions; advertising and industry events and exhibitions. Two Lyceum executives will join the Briefing Media board, with a new non-executive chairman to be announced.
“The business is highly cash-generative and there is scope for expanding the portfolio, both in the UK market and potentially overseas,” says Lyceum director Daniel Adler. “Lyceum’s investment will provide the management team with the necessary firepower to continue to build its portfolio with targeted acquisitions in what is a fragmented agriculture information sector.”
Briefing Media chief executive Neil Thackray adds: “The business is now well-positioned for its next phase of growth. With its track record of supporting management teams and offering the expertise and financial backing to make complementary bolt-on acquisitions, we felt that Lyceum was the perfect new investment partner.”