Incisive Media Owners Are Said to Consider Company SaleKiel Porter and Kristen Schweizer
The owners of Incisive Media Ltd., the London-based business-to-business publisher, are considering a sale of the company early next year, according to two people with knowledge of the matter.
Incisive, owned by its lenders including the Royal Bank of Scotland Group Plc, will decide on the future of the business in the first quarter of 2014, said the people, who asked not to be identified because the talks are private.
Incisive, which publishes trade titles including Central Banking and Legal Week, has attracted interest from private-equity bidders after recent discussions with an unidentified party for parts of the business were abandoned, two people said.
A sale of the entire company is the favored option rather than disposing of individual units or a refinancing of the debt, although no final decision has been made, the people said.
The company is valued at about 150 million pounds ($241 million), said the people. London-based investment bank Gleacher Shacklock LLP is acting as Incisive’s adviser.
Incisive has been owned by its lenders since 2009 when a restructuring led London-based buyout firm Apax Partners LLP to cede control in exchange for retaining a majority stake in the U.S. unit, ALM. Apax bought the business for 208 million pounds in 2006 and made a number of acquisitions, leaving its total debt at about 400 million pounds at the time of the restructuring, said two of the people.
Tim Weller, Incisive’s chief executive officer, and officials at Gleacher Shacklock declined to comment. An RBS spokesman also declined to comment.