Last Word Media business bought for up to 9x EBITDA

Thu, 04 Apr 2019 | BUSINESS SALE



International B2B media company Last Word Media has been acquired by Bonhill Group for up to £10 million.

Founded in London by Rob Boulogne, Jamie Hinchliffe and Dylan Emery in 2005, Last Word Media also has offices in Hong Kong and Singapore which are headed by co-founder Tom Porter. The company provides information required by those in the wealth management industry, and addresses the sales and marketing needs of clients in global asset management.

More specifically, the business generates content, sales and marketing campaigns, and leads networking events to support its clients in increasing assets under management.

The company has a portfolio of 190 clients, and some of its major customers include Allianz Global Investors and BNY Mellon Investment Management.

Bonhill will acquire Last Word Media through an initial cash consideration of £6 million and £2 million in share issues, and a deferred payment of £2 million depending on Last Word’s financial performance in the years ending 31 December 2019 and 31 December 2020.

Last Word Media generated a revenue of roughly £10.2 million in the year ending 31 December 2018 (up from £9.2 million in 2017) with an EBITDA of £1.1 million (£0.3 million in 2017). In 2018, it had acquired net assets amounting to £1.42 million – an increase from £0.78 million in the previous year.

In this time, 71 per cent of all revenue was generated in the UK, with 59 per cent of the total a result of producing live events, 26 per cent due to providing business information, and 15 per cent generated from data & insight and content marketing.

Chief executive of Bonhill Group, Simon Stilwell, said: “We are pleased to announce the acquisition of Last Word, a leading international B2B media business servicing the global asset management sector. Bringing our two businesses together will enable Bonhill to provide a truly global sales and marketing proposition to the international asset management community and provides the opportunity to leverage InvestmentNews’ presence and platform to expand its existing propositions in the US. These are exciting times for the company, and we look forward to the period ahead.”

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