Octane Lending, a US company serving the lending needs of consumers in the motorsports market, has bought the digital assets of Bonnier Corporation’s US Motorcycle Group whose brands include: Motorcyclist, ATV Rider, Cycle World and Cycle Volta.
Octane was founded in 2014 and has established a finance platform and partnerships with motorsports dealers. The acquisition now adds product reviews and tests and research to its e-commerce site.
The US subsidiary of the Sweden-based Bonnier Corp. has more than 15 brands including: Popular Science, Saveur, Field & Stream, Yachting, Flying, Sailing World, Salt Water Sportsman, Working Mother and Outdoor Life.
In February this year, The Wall Street Journal reported that the $110m-revenue company was exploring the “possible sale” of most of its 14 American special interest magazines including Boating, Sailing World, Popular Science, Saveur, Field & Stream, and Outdoor Life. But the Octane deal is the first so far completed.
The US company had been formed in 2007 when Bonnier AB acquired 18 magazines (with revenues of $230m) from the former Time Inc for a reported $260m. It merged the magazines with World Publications (in which it previously held a 50% share), to create a business of 40 brands, $350m revenue and 300 people.
The WSJ had reported that Bonnier was expected to retain its Working Mother Media Division including: The Working Mother Research Institute, the National Association for Female Executives, Diversity Best Practices, Culture@Work, diversity consulting companies, and Working Mother magazine. It was believed that the company also planned to retain Bonnier Events.
The parent Bonnier Group is the 200-year-old family owner of some of the Nordic region’s leading print and digital media companies, as well as wholly-owned operations in 12 countries. In 2018, Bonnier’s worldwide media operations had EBITDA of SKr 824m (2017: SKr 625m). Revenue was SKr 26.4bn (SKr25.7bn). It sold its broadcasting group in 2018.