Incisive Media agrees debt for equity swap with Alchemy Partners

clock

Incisive Media, publishers of Investment Week, Professional Adviser and a range of other titles, has agreed a refinancing deal which sees private equity firm Alchemy Partners take a majority stake in the business.

The new capital structure, agreed between Alchemy and other minority lenders, will involve a debt for equity swap which will help cut the business's debt pile and allow it to focus on growth. The move will leave Incisive Media with a "significantly strengthened balance sheet with much reduced net debt", it said. Previous private equity backer Apax paid £208m for Incisive in 2006, but later control of the business transferred to its lenders including Royal Bank of Scotland. As part of the refinancing, Incisive Media has also made a number of changes to its board of directors. Dame H...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

FSCS places West Yorkshire-based investment advice firm in default

FSCS places West Yorkshire-based investment advice firm in default

FCA revoked its authorisation in September 2023

Sahar Nazir
clock 26 November 2024 • 1 min read
DE&I progress since Black Lives Matter stagnates in financial services

DE&I progress since Black Lives Matter stagnates in financial services

Reboot Race to Equality report finds no real change or progress

Linus Uhlig
clock 26 November 2024 • 2 min read
PA Awards 2025: Adviser category shortlists revealed!

PA Awards 2025: Adviser category shortlists revealed!

The industry’s best in ESG, client engagement, paraplanning, vulnerable customer care, and more

Professional Adviser
clock 26 November 2024 • 3 min read