The UK-based Pageant Media has acquired the UK-based Savvy Investor (£2m-revenue/ £800k EBITDA) from its owner Andrew Perrins for an earnout price that is believed to include £6m upfront and some £1.5m in performance linked payments over the next two years.
The nine-year-old Savvy self-describes as “the world’s leading platform for the distribution of white papers and thought leadership to institutional investors. By aggregating content from around the industry in a single location, Savvy Investor enables its 50,000 members to work smarter…We refer to ourselves as a ‘knowledge network’. Imagine a niche version of LinkedIn, but better – a professional network for institutional investors, with a curated content library of over 12,000 white papers – meticulously categorised, tagged, rated and uploaded daily by an expert team of former fund managers.”
The deal is Pageant’s fifth acquisition since February 2020 when Intermediate Capital Group bought majority control for £106.5m in a deal which is believed to have valued the company at £145m.
Pageant Media is believed to have made revenue/EBITDA of £35m/£11m in its financial year ended 28 February 2021. It is said to be targeting some £18m of profit for 2021-22.
The company is planning to re-brand later in the year.
