Incisive Media has announced a refinancing agreement that provides a strong platform for future growth. The new capital structure has been agreed between Alchemy and the other minority lenders and provides Incisive Media with a significantly strengthened balance sheet with much reduced net debt.
Commenting on the refinancing Tim Weller (pictured), Executive Chairman and CEO, said: “This is great news for the ongoing development of our company. The strong financial platform and supportive majority shareholder in the form of Alchemy will give us the ability to invest in the business, both in our people and our brands. We have made considerable progress in digital, subscriptions and events over the last few years and look forward to being able to accelerate this by investing in the business to stimulate further growth and by taking advantage of the many opportunities that lie ahead.
“Our markets are showing encouraging signs of recovery which, with the combination of a robust balance sheet and the steps we have taken to position each of our businesses, allows us to look to the future with real confidence.”
Ian Cash, Alchemy Partner, said: “We are admirers of Incisive Media’s leading brand positions and the entrepreneurial management team headed by Tim Weller. We are delighted to have led the restructuring and look forward to continuing to support the transformation and growth of the business as the majority shareholder.”