Ion Equity backs media company buyout

Ion Equity, a UK private equity and corporate advisory firm, has invested £41.5m in the management buyout of Inside Communications, with debt provided by Anglo Irish Bank.

Ion Equity, a UK mid-market private equity firm, has backed a £41.5 million (€61 million) management buyout of Inside Communications, a media company, from Trinity Mirror.

Anglo Irish Bank provided financing for the deal.

Ion Equity was not immediately available for comment.

As part of the transaction, Inside Communications has been rebranded Ocean Media Group. Ocean Media operates consumer and trade exhibitions, conferences and magazines focusing on public sector, outdoor and leisure and weddings and bridal sectors.

Ocean Media has a reported turnover of £27 million and employs approximately 130 staff based in London and the Midlands.

Based in London and Dublin, Ion Equity is a corporate finance advisory and private equity firm. The private equity arm typically invests between €5 million and €20 million in transactions of up to €200 million.