August Equity has backed a £29 million (€43 million; $56.5 million) management buyout of Boat International Group, a yacht magazine publisher.
Macfarlanes gave legal advice to August Equity while LongAcre Partners, a technology and media-focused corporate finance house, advised Boat International Group.
Boat International’s magazines are published in the UK, Europe, USA and Russia.
August Equity’s previous investments in the publishing sector include City Financial Communications, Timothy Benn Publishing, Incisive Media, Octopus Publishing and Imagine Publishing.
Last week August Equity sold Securistyle, a window fixtures manufacturer, to Bank of Scotland Integrated Finance for £42.3 million.
August Equity, formerly Kleinwort Capital, invests in UK-based companies valued between £10 million and £100 million in the media, technology, healthcare and specialist manufacturing sectors. The firm has £250 million under management from pension funds, insurance companies, local authorities, private banks and clients worldwide.