B2B media company Wilmington receives takeover approach

by Daniel Farey-Jones, Brand Republic 28-Jul-08, 11:20

LONDON - Wilmington, the business media company that owns journalists' weekly Press Gazette, has received a takeover approach believed to be from private equity firm HgCapital.

The company today confirmed to the stockmarket it had received a preliminary approach, after The Sunday Telegraph yesterday reported HgCapital was considering making a formal approach to the board.

Wilmington shares climbed 15% this morning to 190p.

The company employs 800 people and made revenues of £81.5m in the year to June 30, 2007.

It owns a range of publications that include Solicitors Journal, Charity Choice and HPCi, as well as events catering to sectors such as law, accountancy, surveying, finance, charity and pharmaceutics, as well as a legal training division.

It bought Press Gazette in 2006, saving the weekly title from closure.