Nextmedia was established five years ago through the amalgamation of three specialist publishers. It publishes over 40 special interest publications including titles such as Inside Sport, Golf Australia, Tracks, Australian Muscle Car, Bluewater Boats & Sports Fishing, PC PowerPlay, Sound & Image, Camera and Healthy Food Guide.
“Through subsequent acquisitions and licences nextmedia has expanded its portfolio to more than 40 specialist magazine titles and a range of books, posters, DVD’s, events and websites, enewsletters and digital communications,” said company chairman and Wolseley managing director, James Todd.
“During the past three years the business has delivered outstanding growth and has become Australia’s leading specialist publisher and fourth largest consumer publisher.
“As a result of the transaction Wolseley will sell its stake in the business while the executive team, comprising CEO David Gardiner and commercial director Bruce Duncan, will retain a financial interest in nextmedia.
“David Gardiner, who will continue as CEO of nextmedia, said, “Since the establishment of nextmedia we have aggregated and grown the business, both organically and by acquisition and licence. We appreciate the support by acquisition and licence.”
Wolseley has A$350m of funds under management committed from Australian and overseas superannuation and pension funds. The firm focuses on established Australian and New Zealand companies with enterprise values between $20m and $150m.
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