Centaur agrees sale of engineering portfolio to Mark Allen Group

 

Centaur Media Plc has announced that it has entered into a conditional agreement to sell its engineering portfolio, including The Engineer and Subcon, to Mark Allen Group.

This transaction follows the recent disposals of Centaur’s financial services business, its travel and meetings exhibitions and its HR business. The sale of Centaur’s engineering businesses will take aggregate proceeds to £21.75m in cash.

Centaur has been exploring the divestment of its smaller businesses following the conclusion of a strategic review last October and its decision to improve operational execution by focussing on its leading brands. Mark Allen Group will pay a cash consideration of £2.5m (subject to customary post-completion adjustments). The transaction is expected to complete on 31st May.

Andria Vidler, Chief Executive of Centaur, said: “This is the fourth disposal following Centaur’s divestment review. Throughout the process we have been pleased with the interest our businesses have received, and we are delighted that our engineering portfolio is joining Mark Allen Group who recognise its value and are well positioned to take it forward.

“I would like to say a huge thank you to the teams across the portfolio. The continued success of the brands and contribution to Centaur over the years is a testament to their hard work and ongoing commitment.”

Ben Allen, Chief Executive of Mark Allen Group, added: “The acquisition of these premium brands is part of our strategy to target well-established products in markets where we believe there are exciting growth opportunities. These assets will further strengthen our existing manufacturing and engineering publishing and event portfolio, which includes titles such as New Electronics and Eureka, as well as the Engineering Design Show.”

Tuesday, 14 May 2019

Share this article

Any questions? Any comments?

Your instant reactions to this article can be posted here. Use your own name or a nom de plume.

Be the first to make a comment...

Please log in to make a comment

Already registered?

Haven't registered?

Register for FREE - it only takes a couple of minutes

Not registered? Click here.

Centaur agrees sale of engineering portfolio to Mark Allen Group