Diversification attracts £27.5m package for Emerald
A FAST-GROWING publishing business has signed on the dotted line for a £27.5m finance package as it looks to grow even further.
The Emerald Group has agreed to the Barclays and HSBC package following the acquisitions of Bristol-based Research Media in 2013 and Edinburgh-based GoodPractice in 2015.
Originally a publisher of academic journals, the acquisitions allowed Emerald to expand into marketing and learning resource sectors.
Headquartered in Bingley, Emerald employs 400 people across its operations and turns over £40m.
More than 80% of revenues come from overseas markets, particularly Beijing, Boston and New Delhi.
Simon Cox, group finance director, said: “Emerald is strongly positioned to continue its 50-year growth story, despite the current political and economic turbulence. Our international diversity is a key strength and allows us to take a global perspective on risk and growth opportunities.
“We’re delighted to have agreed a flexible financing package with Barclays and HSBC that will support our ambitious growth plans and accelerate our acquisition programme. We need to be continually developing our offering and developing the ideas, skills and technologies that drive us to innovate and evolve.”
Jamie Farrell, director from Barclays, said: “We’ve had a very successful partnership with Emerald for almost 50 years and have enjoyed being part of the group’s development. We look forward to working alongside them for a further 50 years!”
Wayne Shadlock, relationship director from HSBC, said: “HSBC has an excellent relationship with Emerald across a number of international markets. It’s a high quality business with an excellent management team and exciting growth plans. We are delighted to be part of that story going forward.”
Emerald was advised by Anna Robson and Charlotte Hall of DLA, and Barclays and HSBC were advised by Phil Scott of Pinsent Masons.
Founded by chairman Dr Keith Howard in 1967, Emerald is celebrating its 50th anniversary in 2017.
