Edmond de Rothschild Capital Partners exits free magazine group

Media group Sud-Ouest has bought free magazine group H3S from Edmond de Rothschild Capital Partners as the buyout firm registers its third exit to date.

French buyout firm Edmond de Rothschild Capital Partners has sold its controlling stake in free magazine group H3S to S3G, a subsidiary of the media group Sud-Ouest, for an undisclosed sum.

The buyout firm bought the magazine group in April 2005 in partnership with its founder, Nicolas Brunel.

The group has predicted sales of €43 million in 2007 as well as turnover growth of 80 percent over the last three years and doubled earnings in two years.

The deal is the third exit by Edmond de Rothschild Capital Partners which has €210 million under management. The fund invests exclusively in middle market leveraged buyouts of between €30 million to €200 million.

H3S Group publishes a range of free trade advertising magazines. Its 66 titles in France include L’ Offre Immobilière, and Mag Nautic in France. The company also has ten other magazines in Spain, Switzerland and eastern Europe.

Buyout firms have warmed to the magazine market of late, with Quadrangle buying Maxim owner Dennis Publishing’s US arm for $250 million yesterday.