Disposal of BSG division

RNS Number : 2830X

Bonhill Group PLC

26 August 2022

 

26 August 2022

Bonhill Group plc

("Bonhill", the "Company" or the "Group")

Sale of Business Solutions Group

Bonhill Group plc (AIM: BONH), a leading B2B media business specialising in financial services providing media, events and data & analytics, announces the sale of its Business Solutions & Governance ("BSG") division for cash consideration of £723,000 to Stubben Edge Group Limited (the "Sale").

The BSG division comprises brands, including SmallBusiness.co.uk, GrowthBusiness.co.uk, Information-Age.com, and DiversityQ which includes the 'Women in…' events series. In FY 2021, the BSG division reported audited revenues of approximately £2.4 million and EBITDA of approximately £0.4 million. It currently employs approximately 20 staff.

The consideration payable comprises an initial payment of £650,000 for the core trade and assets of the division and the balance of £73,000 will be payable to reimburse the Company for any deposits paid to secure venues less any advanced revenue received. The Company intends to invest the net proceeds of the Sale in:

· Live events;

· Global ESG brand extensions and initiatives;

· Content marketing solutions and video creation capability; and

· Working capital purposes.

The Sale will also enable the Group to achieve approximately £0.6 million in annual cost savings from streamlining central support headcount, reduced office space and lower IT costs. The full benefit of these will be achieved in 2023. Furthermore, following the Sale, the Group will be more focused, less capital intensive, less complex and will generate higher margins.

Patrick Ponsford, Bonhill's Group CEO, commented:

"We are pleased to have concluded the sale of the brands in the Business Solutions Division. Following completion, Bonhill is a global financial services specialist, expanding its product offerings and building expertise in its core markets in the US, UK, Europe and Asia."

Chris Kenning, Stubben Edge's Group CEO, commented:

"Customer tastes are changing quicker than the financial services industry is.  Bringing together the BSG capabilities to offer insight, analytics and high-quality content with Stubben Edge Group's Broker and IFA network creates a unique proposition to help solve some of the problems the SME market faces."

For further enquiries please contact:

Bonhill Group plc   [phone]

Patrick Ponsford, Group CEO

Shore Capital (Nominated Adviser and Broker)          [phone]

Tom Griffiths/David Coaten

About Bonhill Group plc

Bonhill Group plc is a leading, AIM-quoted, B2B media company providing Business Information, Events and Data & Insight propositions to the global Financial Services community. Bonhill operates multiple digital platforms, has market leading media brands, hosts over 100 events per annum, offers a portfolio of data & analytics propositions and provides a range of content marketing solutions.

Bonhill operates exclusively in the financial services space where its brands and services are acknowledged as market leaders. It specialises in enhancing the relationship and flow of information between the global community of financial services providers and the advisers who recommend their products. Bonhill was early to recognise the growing importance of ESG in asset allocation and fund selection and now owns the leading global platform in this space, serving the adviser community.

Flagship brands include: InvestmentNews, ESG Clarity, Portfolio Adviser, Fund Selector Asia, Expert Investor Europe, UK Adviser and International Adviser.

Offices in New York, London, Singapore and Hong Kong.

For more information visit www.bonhillplc.com .

About Stubben Edge Group Limited

Stubben Edge Group specialises in creating innovative products and technology for the financial services and insurance industries.

With a private client heritage and backed by Lloyd's Names, the group has expanded to building systems, technologies, and cutting-edge analytics. The result? A new distribution portal that's the only single, networked system for IFAs, brokers and ARs looking to really grow their businesses.

For more information visit www.stubbenedge.com .

 

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