GMT takes French weekly stake

The UK-based private equity firm has taken a stake in French recruitment publication “Le Marché du Travail”.

( UK-based communications sector investment specialist GMT Communications Partners has taken a stake in French weekly recruitment publication Le Marché du Travail.


GMT has invested through Cimarosa Communications Holdings, alongside William Riedel, the publishing director of Le Marché du Travail. Terms of the transaction were not disclosed.


“GMT had not invested in consumer special interest press in France since 1996,” Jeff Montgomery, managing partner at GMT Communications Partners, said in a statement. “Le Marché du Travail is the independent leader of the French recruitment press, and has a unique brand illustrated by its customer database of 70,000 companies.”


The partners of GMT have worked together since founding Europe's first Communications fund, Baring Communications Equity, in 1992, and have created three funds over the intervening years, closed their most recent fund on E365m at the end of 2000.


The firm has made 25 investments across 12 countries. These include Casema (Netherlands), PEPcom (Germany), Telemedia (Netherlands), Internet Network Services (UK), Media Publications (France), Mobifon (Romania), EUSA (Spain), Quote (Netherlands), Orion Publishing (UK) and Nexus (UK).


In January, French conglomerate Vivendi Universal sold its Hungarian telecommunications unit to GMT Communications Partners and AIG Global Investment, the private equity arm of insurance company AIG.