HMT acted as reporting accountants for Electra Quoted Management and Clydesdale Bank plc in their funding of the BIMBO of Action Sports Media Limited and the simultaneous acquisition of Permanent Publishing UK Limited and 4130 Publishing Limited.
Darryl Newton and Patrick Franklin, directors of ASM, together with Alastair Ramsay, the previous CEO of Dennis Publishing, which published Maxim, This Week and Auto Express, and James Carter, a current director at Dennis Publishing (“MBO Management”) saw the opportunity within a fragmented market to build a leading publisher of action sports titles, commencing with the MBO of ASM and simultaneous acquisitions of PP and 4130, which operate in the same market.
Operating from headquarters in London with branches in France and Germany, ASM is a well established publisher of titles including ‘Onboard’ and ‘Surf Europe’ brands, which are sold across Europe and the US.
PPUK, another longstanding publisher run by a husband and wife team, operates from Abingdon, and publishes three action sports magazines Whitelines, Sidewalk and The Surfer’s Path, which have readerships across Europe and the US, complimenting the ASM magazines.
4130 is a family owned UK based publisher of five magazines targeting the BMX, mountain bike and motocross market.
Andrew Thomson commented:
“The Management team have huge experience of the market, and we believe that the BIMBO of ASM and the acquisitions of PP and 4130 provide them with an exciting base from which to build on their current success.”