Nextmedia acquired by Forum Media Group

Specialist publisher Nextmedia – the company behind titles including Inside Sport, Golf Australia and Tracks – has been acquired by Germany-based Forum Media Group.

The announcement:

Nextmedia (“Next”) has today announced that FORUM MEDIA GROUP (“Forum”) has acquired 100% of the share capital of Next from Wolseley Private Equity (“Wolseley”) positioning the business for further growth.

Next was established five years ago through the amalgamation of three specialist publishers and with subsequent acquisitions and licences has expanded its portfolio to over 40 specialist magazine titles and a range of books, posters, DVDs, events and websites, enewsletters and digital communications. Over the last three years Next has delivered outstanding growth and has become Australia’s leading specialist publisher and fourth largest consumer publisher.

As a result of the transaction Wolseley will sell its stake in the business, while the executive team, CEO David Gardiner and Commercial Director Bruce Duncan will retain a financial interest in Next. Outgoing Chairman, Wolseley Managing Director James Todd said “we have been pleased with our investment in Next and delighted to have invested alongside David and Bruce. We are very impressed with their vision and ability to establish a serious media platform which is well positioned for further growth under Forum’s ownership”

David Gardiner, who will continue as CEO of Next, commented “since the establishment of Next we have aggregated and grown the business, both organically and by acquisition and licence. We appreciate the support we have been given by our investors. I am very proud of our team of people at Next, their dedication and passion for our magazines. We are all very excited about the partnership with Forum and the opportunities for the business and our staff. We will continue further growth and expansion, driven by a common vision and a strong belief in success.”

The medium sized international publishing company Forum is headquartered in Bavaria/Germany. Forum publishes print and digital offerings in the specialist B2B and consumer sectors and operates in 15 countries employing around 780 people. Founder and Managing Director of Forum Ronald Herkert commented on the new strategic partnership “Next is a terrific addition to the Forum group and we have plans to continue the growth and expansion of Forum in Australia, both within Next’s existing range of products and business fields, and into new sectors.”

Source: Press release


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