Last checked at 29 Mar 2017 07:05
29 March 2017
Centaur Media plc
("Centaur" or the "Group")
Creating a more digitally focused B2B business
Potential disposal of Home Interest
The Board of Centaur Media Plc (LSE: CAU), the business to business information, insight and events group, announces that it has commenced a process to explore the sale of its business to consumer segment, Home Interest.
The Home Interest segment has undergone a significant transformation in the past three years, generating improved returns. However, Centaur's long term future is as a more digitally focused B2B business. The Board has therefore decided that now is the appropriate time to consider the sale of the segment with the proceeds to be reinvested towards the corporate objective. Given the progress made under Centaur's ownership, the Board believes that Home Interest is well-placed to achieve continued growth under new ownership.
The Home Interest portfolio consists of three key brands; Homebuilding & Renovating, Period Living and Real Homes, and comprises seven market leading exhibitions, print and digital assets.
Under Centaur's ownership, the Home Interest segment has benefited from considerable investment. This investment has driven a marked improvement in performance and particularly in Homebuilding & Renovating over the past three years has seen revenue CAGR of 9%. Revenues of Home Interest were £12.9m in 2016 with proforma EBITDA of £4.9m with exhibitions comprising 50% of revenues.
Livingstone Partners LLP has been appointed as exclusive financial advisor to Centaur in relation to the sale of the segment.
Andria Vidler, CEO of Centaur, commented:
"We believe that Centaur's long term future as a focused B2B media group will generate better returns for Shareholders. Therefore we are exploring the sale of Home Interest, which under Centaur's ownership, has been transformed into a profitable and growing asset.
"We are very proud of what the business has achieved and Home Interest is now strongly positioned to realise its full potential with a new owner."
Enquiries
Centaur Media plc
Andrea Vidler, Chief Executive 020 7970 4000
Swag Mukerji, Chief Financial Officer
Livingstone Partners LLP
Richard Fetterman, Partner 020 7484 4739
Patrick Groarke, Partner 020 7484 4707
Tulchan Communications
James Macey White 020 7353 4200
Will Smith