In February 2008, Red Reef Media acquired TNT Magazine Group, the business aimed at the growing Antipodean and South African community in the UK, from Trader Media Group (TMG).
The magazine celebrates 25 years as market leader and reaches over 250,000 people each week. It is one of the pioneers in free distribution through its 700 unique distribution points. Known as the 'bible' for Antipodeans, it has been at the forefront for independent travellers' requirements for travel information and deals, jobs, accommodation and providing news and sport information for the Australian, New Zealand and South African readership.
Acuity Capital committed £3.4m of equity capital to support the growth development plans of Red Reef.
The company brings together a very strong new management team, formed by three former senior executives from Trader Media (Tony Goodman), Haymarket Publishing (James Murray Jones) and Dennis Publishing (Phil Parker). They are well positioned to fully exploit the opportunities available to further extend the TNT brand.
Acuity Capital was able to identify TNT's significant brand strength and recognize the opportunity for further organic growth by assisting Red Reef to develop its platform across online, print and events to reach its audience. This strategy will be further complimented through further acquisitions.
Antony Fraser from Acuity Capital will sit on the company's board.
Acuity Capital is a smaller companies investment specialist that looks to support proven management with well developed growth strategies. With significant experience of the media and publishing sector, Acuity Capital is the ideal partner for media companies looking for added value from their financial partner.
Acuity Capital specialises in providing £2 million to £6 million of equity finance for buyouts, buy-ins and development capital for UK companies in transactions with an enterprise value of up to £20 million.
For further information on this transaction, please contact:
Antony Fraser Acuity Capital Paternoster House 65 St Paul's Churchyard London EC4M 8AB
This note is for information only and is provided for Professional use only on a confidential basis. It is not an offer, invitation or recommendation to apply for shares in the VCT or the Company which is the subject of this note.
