M&A Deal Summary

Johnston Press Acquires Local Press

On September 16, 2005, Johnston Press acquired publishing company Local Press from 3i Private Equity for 65M GBP

Acquisition Highlights
  • This is Johnston Press’ 1st transaction in the Publishing sector.
  • This is Johnston Press’ 2nd largest (disclosed) transaction.
  • This is Johnston Press’ 1st transaction in Ireland.

M&A Deal Summary

Date 2005-09-16
Target Local Press
Sector Publishing
Buyer(s) Johnston Press
Sellers(s) 3i Private Equity
Deal Type Add-on Acquisition
Deal Value 65M GBP

Target

Local Press

Belfast, Ireland
Local Press is a newspaper publisher, which owns a range of regional titles in Northern Ireland. Local Press has nine titles. Some are subscription only, others are free circulation.

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Buyer(S) 1

Buyer

Johnston Press

Edinburgh, United Kingdom

Category Company
Founded 1767
Sector Media
Revenue 245M GBP (2016)
DESCRIPTION

Johnston Press is a multimedia company operating around 200 newspapers and associated websites around the United Kingdom and the Isle of Man. The company's flagship titles included UK-national newspaper the i, The Scotsman, the Yorkshire Post, the Falkirk Herald, and Belfast's The News Letter. Johnston Press was formed in 1767 and is based in Edinburgh, United Kingdom.


DEAL STATS #
Overall 2 of 2
Sector: Publishing M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: Ireland M&A 1 of 1
Year: 2005 M&A 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-09 Score Press

London, United Kingdom

Buy £155M

Seller(S) 1

SELLER

3i Private Equity

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1945
PE ASSETS 21.0B GBP
Size Mega
Type Sector Agnostic
DESCRIPTION

3i Private Equity is the private equity arm of 3i Group, a publicly held, global investment firm focused on private equity and infrastructure investing. 3i Private Equity generally targets buyout and growth capital financings and looks for opportunities across Europe, North America, and Asia. The Firm's targeted transaction range is €100 to €500 million. Industries of interest include business services, healthcare, consumer, media, oil/gas & power, technology, and financial services. 3i Group was originally formed in 1945 and is based in London.


DEAL STATS #
Overall 28 of 196
Sector: Publishing M&A 2 of 4
Type: Add-on Acquisition M&A Deals 4 of 63
Country: Ireland M&A 1 of 1
Year: 2005 M&A 11 of 15
Size (of disclosed) 57 of 78
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-01 De Boer Structures Holding BV

Alkmaar, Netherlands

De Boer Structures Holding BV is an international supplier of temporary and semi-permanent (aluminium and PVC) structures. The company specialises in the creation of temporary event venues, hospitality units, storage halls, supermarkets, offices, retail outlets, emergency shelters and structures for numerous other uses.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-20 Salamander Energy

London, United Kingdom

Salamander is listed in the UK, but its operating activities are focused and located in South-East Asia, which has extensive hydrocarbon-producing basins and frontier exploration regions. At the time of its formation in 2005, Salamander’s key asset was a stake in the Phu Horm gas field development in North-East Thailand. Since then, the business has built a balanced portfolio of production and exploration assets, giving it proved and probable reserves of 42.3 mmboe and output of 7,500 boepd.

Buy -