Centaur Media acquires Investment Platforms Ltd
Publishing and events company Centaur Media has acquired specialist information business Investment Platforms Limited (IPL) in a deal which could be worth £6.3m.
Centaur has to pay £1.8m in cash and will make further cash payments depending on IPL’s profits up to 30 June 2014, which could rise to over £6m.
IPL, founded three years ago, offers research data, analysis and advice on retail financial distribution, especially on financial wraps or platforms which offer access to asset types, while also organising events for product providers and intermediaries.
Founder Holly Mackay and all staff will remain following the acquisition.
Geoff Wilmot, CEO of Centaur, said: "This earnings enhancing acquisition is an excellent fit with us. IPL provides specialist information and advice to the retail funds and intermediary community, which is a core market for Centaur, served by our leading brands Money Marketing and Fund Strategy.
"This market is in a period of significant change following the completion of the Retail Distribution Review and IPL is the leading expert information provider in the field. Given our strong position in this market, we are ideally placed to provide IPL with full market distribution of its services," added Wilmot.