Intermediate Capital Group (ICG) has acquired control of UK-based Pageant Media for £106.5m in a deal which is said to value the financial services publisher at £132m.
The company, which claims more than 2,500 institutional clients including 94 of the world’s 100 largest asset managers, was 56% owned by CEO Charlie Kerr who founded Pageant 22 years ago.
In 2018-19, it had EBITDA of £5.5m on revenue of £24.3m. It was expected to make some £9.5m on £32m revenue in the 12 months ending in February 2020 – 60% revenue growth in the past two years. It is understood that Kerr’s remaining shareholding may now be just under 30%.
