Last checked at 12 Feb 2021 07:00
12 February 2021
Ascential plc
DeHavilland sale concludes £257.9m BEP disposal
Ascential plc (LSE: ASCL.L), the specialist information, data and analytics company, today announces that it has sold DeHavilland, a brand within its Built Environment & Policy (BEP) segment, to the alternative asset management group Bridgepoint for £15m in cash.
This concludes the disposal of Ascential's BEP businesses, following the recent agreement to sell Glenigan and the sale of Groundsure, with total consideration for the three businesses amounting to £257.9m. As previously noted, this capital will be allocated to core areas of focus for Ascential and, in particular, the fast-growing Digital Commerce segment, including organic investments and potential M&A opportunities.
In the financial year ended 31 December 2019, the BEP businesses generated revenue of £35.9m and Adjusted EBITDA after allocation of central costs of £17.0m. Following the disposal, central costs allocated to the businesses amounting to £4.2m in 2019, will be mitigated through transitional services agreements and cost savings over the coming year.
Duncan Painter, Chief Executive Officer of Ascential, said:
"We are delighted that Groundsure, Glenigan and now DeHavilland have found new owners who will continue to support their development as strong, independent businesses. For Ascential, this transaction marks the achievement of a strategic priority to bring clearer focus to our core customer proposition: enabling our customers to design and create the right products, maximise their marketing impact and optimise their digital commerce performance."
Contacts
Ascential plc | ||
Duncan Painter | Chief Executive Officer | +44 (0)20 7516 5000 |
Mandy Gradden | Chief Financial Officer | |
Rory Elliott | Investor Relations Director | |
Media enquiries | ||
Edward Bridges, Matt Dixon, Jamie Ricketts | FTI Consulting LLP | +44 (0)20 3727 1017 |
Ascential was advised by Raymond James on this transaction.
About Ascential
Ascential is a specialist information, data and analytics company that helps the world's most ambitious businesses win in the digital economy. Our information, insights, connections, data and digital tools solve customer problems in four principal disciplines:
● Digital Commerce via data, analytics and managed services brands Flywheel Digital, Yimian and Edge;
● Product Design via global trend forecasting service WGSN;
● Marketing via global benchmarks for creative excellence and effectiveness, Lions and WARC, and MediaLink; and
● Retail & Financial Services, including the world's premier payments and FinTech congress Money20/20 and events, data and tools for retailers.
About Bridgepoint
Bridgepoint is an international alternative asset management group focused on investments in the middle market, operating in Europe, US and China, with over €26 billion of assets under management.
The firm invests in six principal sectors: business services, consumer, financial services, healthcare, medtech & pharma, manufacturing & industrials and digital, technology & media, through offices in Amsterdam, Frankfurt, Istanbul, London, Luxemburg, Madrid, New York, Paris, San Francisco, Shanghai and Stockholm.
Additional information can be found at www.bridgepoint.eu