Partner Article

Centaur Media confirms it's looking to sell its Home Interest business for £32m

Business information group Centaur Media has revealed it is looking to sell its Home Interest division to Future plc for £32m.

Following on from an announcement at the end of March that the London-headquartered publisher was looking to sell off the business, the firm has said the deal now hinges on obtaining shareholder approval.

At the same time, the business has announced that it has also entered into an agreement to utilise some of the funds from the disposal to acquire Portsmouth-based MarketMakers, the B2B telemarketing company.

The acquisition and disposal comes as Centaur, which owns brands including The Engineer, Real Homes and Design Week, embarks on a major transformation process, focusing its business on B2B digital, business intelligence and events media.

Andria Vidler, Chief Executive, commented: “These transactions are a major step forward in the continuing transformation of Centaur into a B2B focussed business, providing our increasingly professional customer base with a range of higher value-added products and services.

“It is the right time for our Home Interest business to fulfil its potential under new ownership and we wish the management team every success.”

Future has said it will look to raise £22m in a share placing to part-fund the deal with the rest funded through a new £12m banking facility with HSBC.

Zillah Byng-Thorne, CEO of Future, said: “Centaur’s Home Interest division will significantly add to our scale and momentum, while further diversifying our revenue streams, as we continue to build a global platform business for specialist media with data at its heart.

“The Home Interest division brings a strong management team and market leading access to an attractive new vertical with clear growth potential.

“Home Interest’s brands, market position, industry leading events and quality content are a strong fit and will further reinforce our position as a trusted destination for consumers and for our customers.”

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