Exponent announces acquisition of Dennis Publishing from the estate of Felix Dennis
Exponent has reached an agreement to acquire Dennis Publishing.
Ellie Austin scored a job at Immediate Media as a Features Writer for Radio Times after graduating from the Magazine Journalism MA course at City University. Here she talks about working in the fast-paced world of a major weekly magazine and the power of a good coffee.
Dennis’s portfolio consists of over 30 brands across four main areas of focus: current affairs, technology, automotive and special interest. In addition to The Week, it is home to several well-known brands, including MoneyWeek, The Week Junior, buyacar.co.uk, Auto Express, CarBuyer, Computeractive, Alphr.com, Cyclist and Viz, among others.
Across all of its brands, it reaches over 50 million readers and sells over 2.5 million magazines every month.
Dennis is the first investment to be made from Exponent’s fourth fund, Exponent Private Equity Partners IV, LP.
James Tye, Group CEO of Dennis, said: “I’m thrilled to announce this exciting partnership between Dennis and Exponent. I’m confident that Exponent’s experience in our vibrant industry, coupled with Dennis’s talented and experienced team, allied with our world class brands, will prove to be a formidable and unbeatable force in the publishing sector. As partners, we share the belief that innovation and ambition are the keys to success and it’s this shared vision that will propel Dennis to its next phase of growth.”
Commenting on the acquisition, David McGovern of Exponent, said: “Dennis is a unique, innovative and dynamic publishing and e-commerce business. We believe that there is a significant opportunity to grow both its print and digital platforms, which will allow it to reach and engage even more readers and customers. Exponent is delighted to back James Tye and his team. We look forward to combining their expert knowledge with our own deep experience in consumer media and e-commerce to help further develop Dennis’s strong market positions and build on Felix Dennis’s legacy.”
Dick Pountain, on behalf of the Executors of the Felix Dennis estate, said: “The Executors of Felix Dennis’s estate are delighted to agree the sale of Dennis Publishing to Exponent. We see Exponent as excellent partners for Dennis – its track record in media is extremely strong and we have confidence in its ability to continue to grow the size and reputation of the company that Felix created almost 50 years ago.
“The proceeds of this sale go to the Heart of England Forest, a charity which Felix established during his lifetime. This endowment will enable the charity to create Felix’s ambitious vision – planting and maintaining the largest contiguous, broadleaf woodland for public enjoyment that the UK has seen in a century. The sale ensures not just a bright future for all involved, but will create a lasting and important legacy for future generations.”