ABN puts for sale sign up at Quantum Business Media

by Sam Matthews,, Brand Republic 25-Nov-04, 11:00

LONDON - Quantum Business Media, publisher of Media Week, Press Gazette and The Publican, has been put up for sale by its private equity owner ABN Amro Capital for an estimated £30m, after recently attracting a number of prospective bidders.

ABN Amro has confirmed it has appointed RSM Robson Rhodes to handle takeover talks from interested bidders.

The Croydon-based publisher owns a number of high-profile trade magazines including The Publican. In 1997, it tripled its business by acquiring 14 extra titles from Emap. It also organises The British Press Awards, Media Week Awards and The Publican Awards.

Quantum had operating profits of £2m in 2003 on sales of £22m. Between 1990 and 1996, the company's sales grew from £600,000 to £6m.

In 2000, Quantum was bought by its management from its owner, ports and ferries group P&O, for £20.5m.

The company was then 47.1% owned by a management team, headed up by then-chief executive and founder Richard Flaye, and 51.4% owned by venture capital firm ABN Amro Capital.

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