Faversham House Publishing Sale

Peter Counsell of Meta was introduced to Amanda Barnes, the chief executive of FHthe business having been founded by Amanda’s father, Vic Gould, in 1960;the senior management and staff included four other members of the Gould family, including Amanda’s mother, Margaret. Amanda’s colleagues in the management team are her fellow directors Chris Trayers and Carl Myers.

Peter’s role was to advise on the development of the business plan, its presentation to potential funding parties and to negotiate with the other family shareholders. A number of private equity funders expressed interest in FH and its growth plans. However, there was a significant understanding and chemistry with Jonathan Gregory and Chris Price at Mobeus Private Equity, who funded the transaction.

Mobeus introduced Bob Fairchild, who already sat on one of their investments, ATG, to act as chairman. Also introduced to the deal was Jill Williams, whose role as incoming finance director facilitates the retirement of John Gould, Amanda Barnes’ brother, from his twin roles as finance director and chairman. Chris Price also took a seat on the board of directors.

During the course of the MBO, FH also acquired the assets of Utility Week from Reed Business Information, adding a well-regarded title to its portfolio.Amanda Barnes, chief executive of FH, said, “I thank Peter most profoundly for his advice and for bringing a most welcome perspective to the deal when needed. He has achieved the difficult task of making everyone feel that he was on their side”.

Peter Counsell, director of Meta said, “I am delighted to have helped Amanda, Chris and Carl to acquire FH. They are a very high quality management team. FH is a highly regarded business that is well-placed to capitalise on the growth opportunities available in its sectors. I am particularly pleased that the involvement of Mobeus, Bob Fairchild and Jill Williams will strengthen the company and look forward to advising the business through its next phase.”

Since the original MBO, Meta has advised Amanda, Chris and Carl on the successful buy-out of the Mobeus investment and repayment of the debt financing ahead of schedule.