Skip to: Navigation | Content | Footer

Epiris Fund II announces the acquisition of Time Inc. UK

Epiris yesterday announced that Epiris Fund II, advised by Epiris LLP, has agreed to acquire Time Inc. UK, one of the UK’s largest consumer magazines and digital publishers, from Meredith Corporation. Financial terms of the transaction are not being disclosed.

Author: News Desk

Posted on: 27 February 2018 06:40

Epiris Fund II announces the acquisition of Time Inc. UK

Chris Hanna: "At its heart this is a diverse, robust and cash-generative business."

Time Inc. UK’s (TIUK) 50-plus brands reach 17 million adults and 13 million online and digital users across the UK. TIUK’s market-leading portfolio spans a range of interest areas, from entertainment and women’s lifestyle to luxury, sports and technology. Amongst its titles are household names such as Woman’s Weekly, Country Life, Ideal Home and Trusted Reviews, as well as specialist titles such as Decanter, Wallpaper*, Cycling Weekly and Horse & Hound. Its entertainment titles, including What’s on TV and TV Times, sell more than a million copies each week, says Epiris.

The company is led by CEO and PPA Chairman Marcus Rich, who joined TIUK in 2014 from DMG Media. Sir Bernard Gray, who is Chairman of New Scientist and formerly Non-executive Director of Immediate Media and Chief of Defence Materiel at the Ministry of Defence, will become Executive Chairman.

Alex Fortescue, Managing Partner of Epiris, said: “This is the second investment we have announced from Fund II following the Portals De La Rue deal, announced earlier this month. This deal is a complex corporate carve-out of the type in which we specialise. The business itself offers plentiful scope for transformation through operational improvement and M&A. We are thrilled to have got Fund II off to such a strong start.”

Chris Hanna, Partner at Epiris, said: “At its heart this is a diverse, robust and cash-generative business. We intend to bring clarity and simplicity to it, to focus on maximising the potential of its high-quality portfolio. We are excited about implementing our plans in partnership with Bernard, Marcus and the team.”

Marcus Rich, CEO of Time Inc. UK said: “Time Inc. UK is home to some of the best known brands in the UK and we are delighted to be partnering with Epiris and with Bernard as we continue our transformation journey. They share the same vision for our business and we are excited by the fresh insight they will bring as we shape our shared plans for the business in the years ahead.”

The transaction was led for Epiris LLP by Chris Hanna, Ian Wood and Nicola Gray.

Epiris is being advised by Jefferies International, PwC and Macfarlanes. Debt is being provided by Ares Management and HSBC.

comments powered by Disqus

Most read on InPublishing

These are the most read stories on the InPublishing website over the last 14 days, in order from the top.

Articles

The reader-revenue revolution is a reality

Peter Houston
Posted on: 22 May 2018

Magazine design: 5 minutes with… Ian Blaza

Ian Blaza
Posted on: 30 May 2018

Data-led journalism

Nick Turner
Posted on: 22 May 2018

Craft magazines

Alan Geere
Posted on: 22 May 2018

Count the clicks

James Evelegh
Posted on: 22 May 2018

Family values

Meg Carter
Posted on: 22 May 2018

Off The Page

David Hepworth
Posted on: 22 May 2018

Platforms and Publishers

Charlie Beckett
Posted on: 22 May 2018

Get out of the office and talk to people

Steve Dyson
Posted on: 22 May 2018

This list is based on data from Google Analytics, and is refreshed every 24 hours. (Last updated: 20/06/2018 06:20)

Find out more about

Featured job

Digital Marketing Manager
Salary: £££ highly competitive salary, according to experience
The Chelsea Magazine Company
London

Featured in InPublishing Jobs

InPub Weekly: Sign-up

Click here to sign up for our free weekly email newsletter:

Sign up now!

Magazine registration

Publishing Partners Guide