Private equity group Apax Partners has bought 49.9% of TMG, which owns printers Apple Web Offset, based in Warrington, Bristol-based Wiltshire, and Acorn Web Offset in West Yorkshire.
Trader Media Print Group managing director Alan Turner said: “Apax has considerable experience in the area. As far as the print divisions are concerned, it is business as usual.”
GMG will retain a majority stake in the business of 50.1% and the transaction values TMG at £1.35bn.
In a statement, the board of GMG said the sale of the minority stake to Apax Partners created the greatest value for the group.
TMG to continue after Apax sale
Trader Media Group's (TMG) print division will continue "business as usual" following Guardian Media Group's (GMG) agreement to sell a stake in the subsidiary group.
