Weller and some titles in the Incisive portfolio
Incisive Media is planning to launch two financial titles by September and hopes to turn both into market leaders.
Speaking after the £16m takeover of Initiative Europe this week, Incisive’s chief executive, Tim Weller, said he hoped to grow the company organically this year as well as through acquisitions.
Both monthlies would be subscription based. The first, for the risk management division, is due out in July. The second, related to mortgages, is scheduled for September. Weller told Press Gazette he is hoping to clinch the number one spot for both.
“The objective would be market leaderships. We’ll be looking for two editors.,” he said.
The takeover of private equity publishing firm, Initiative Europe, includes the flagship title Unquote as well as Private Equity Europe, High Growth Investor and Europe Buyout Review. It will be partly funded by Caledonia Investments, which is taking a 6.4 per cent stake in Incisive and will gain a seat on the company’s board. As a long term investor, Caledonia is also expected to strengthen Incisive’s credibility in pursuing future acquisitions.
Initiative Europe was founded 15 years ago by married couple Antonia Millen and Ajay Sood, who will leave the company as soon as the deal has been completed. Staff are currently based in Redhill and Weller said there were no plans to move them.
“What we have created is a sixth additional division to the company. We have no intention of taking cloth out of the business; it is run very well with very high margins. The journalists need have no fears about their jobs,” he said.
Incisive plans to build its conference and exhibition division off the back of the deal and Weller said he is hoping to have at least one new conference in place by the end of the year.
He dismissed suggestions that the takeover was consolation for being squeezed out of the race to buy Centaur Communications, in which he was outbid by Numis.
“There is no consolation prize about it. This business has margins to die for. We moved on the day we didn’t get Centaur,” he added.
By Ruth Addicott