Nineteen Group has announced that it has divested the magazines it acquired with the backing of Phoenix Equity Partners last year as part of the purchase of the events and magazine business Western Business Exhibitions.
Mark Sennett, Danny Kosifou and Keith Gabriel have successfully completed a management buy-out of eight magazines, digital platforms and the Safety and Health Excellence Awards. The WBE business will separate from Nineteen Group and will be known as Western Business Media going forward.
While the two businesses have separated, they will continue to have a close relationship. The magazines will be the official media partners of the NEC series (The Security Event, The Fire Safety Event, The Health and Safety Event and The Facilities Event), The International Security Event at Olympia and Maintec.
Mark Sennett will continue to play an important role on The Fire Safety Event, chairing The Advisory Council and liaising with industry stakeholders. Nineteen Group will focus on the day to day running of the event.
Nineteen Group CEO, Peter Jones, said: “We are delighted that Mark, Danny and Keith have decided to buy back the publishing business. They are a committed strong management team who will invest to grow their business. We will continue to have a close relationship and I wish them every success.
“After one year of the backing of Phoenix Equity Partners, we are growing at a rapid pace and have ambitious plans to grow the Nineteen Events portfolio further organically and with additional acquisitions.”
Western Business Media CEO, Mark Sennett, added: “Danny, Keith and I are delighted to have been given this opportunity. We are excited to be working closely with Nineteen Group to support their events, which I will remain involved with. This MBO allows us to significantly invest in the publishing business to ensure we maintain our magazines as market leaders and continue to expand our reach across new and exciting digital platforms.”