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The private equity firm behind Immediate Media and the Gorkana Group has acquired Dennis Publishing, owner of magazines such as Cyclist, The Week and Viz.
Proceeds from the sale – financial details of which have not been released – will go to the Heart of England Forest charity, established by Dennis Publishing founder Felix Dennis, who passed away in 2014.
A statement from Dennis said the buy-out was via Exponent Private Equity Partners IV, LP.
David McGovern of Exponent said:“Dennis is a unique, innovative and dynamic publishing and e-commerce business. We believe that there is a significant opportunity to grow both its print and digital platforms, which will allow it to reach and engage even more readers and customers."
Dennis CEO James Tye added: "I’m confident that Exponent’s experience in our vibrant industry coupled with Dennis’ talented and experienced team, allied with our world-class brands, will prove to be a formidable and unbeatable force in the publishing sector.
