The deal, which was completed this month, follows the Wolverhampton-based group’s acquisition of B2B publisher HPCi Media in late 2021.
Also Precision Colour Printing’s parent company, in 2018 CGL completed purchases of children’s magazine publisher Kennedy Publishing and print management firm Cubiquity.
CGL’s media portfolio also includes regional titles such as Express & Star, and Shropshire Star.
BDO’s Midlands M&A team advised CGL on the acquisition of Lyonsdown. It was the second M&A opportunity BDO has sourced and introduced to CGL in recent times and the fourth acquisition the team has assisted the business on overall.
The BDO team was led by Alper Dervish. BDO also provided tax advice on the transaction, led by Kuljit Singh.
Dervish said: “Claverley is a long-standing client of BDO’s, with a strong foundation in traditional media within the Midlands. In more recent years, the group has successfully diversified into digital media and content production and this latest acquisition demonstrates that drive and ambition.
“Once again, we’ve been able to support Claverley in executing its corporate development agenda through the early identification of a complementary business for the group. Through our continued network of advisors and intermediaries, and eyes on the market, we were able to highlight Lyonsdown as a potential good fit.”
London-based Lyonsdown provides high level media – both content for republication and video services – for clients including Amazon and Bloomberg, among others.
The business was formed in 2006 and provides video content, articles and platforms, and lead generation services, and hosts digital events.
Phil Inman, CEO at Claverley Group, commented: “We are delighted to have concluded the acquisition of Lyonsdown. The business has grown rapidly over recent years and we look forward to working with the current team to support further growth and development.”
He added: “BDO has successfully introduced us to another deal opportunity through its M&A deal origination team. The acquisition of Lyonsdown Limited (trading across several different media titles), provides a further expansion of our specialist content and media brands and will continue to support our wider diversification within our overall group.”
The shareholders of Lyonsdown were supported by financial advisors, The Business Board UK.
According to its most recently filed accounts at Companies House, for the year ended 31 December 2022, CGL achieved a turnover of £115m, up from £92m in the prior year. Commercial printing contributed £36.1m of this total, up from £26.4m, with print management and procurement up to £19.1m from £11.2m a year earlier. The group employed over 600 staff in 2022.
