LH Media was a specialist magazine publisher acquired from United Newspapers in 1995. The company published magazines in a number of diverse sectors including motoring, boating, music and biking. The portfolio comprised 25 monthly and bi-monthly publications and 27 annual publications.
The strategy of the business was to publish magazines in niche areas. Growth was achieved through the launch of new publications complementary to the existing portfolio of titles and the acquisition of small specialist publishers with niche market magazines. In addition there was scope for cost reduction.
The management moved quickly to grow the business and was able to double profitability within two years. It closed unprofitable publications and acquired complimentary ones. Within three years of the acquisition by Cinven, LH Media was acquired by the IPC Group in a trade sale.
Multiple returned on investment: 4.6x