Michelmores’ Corporate team has advised longstanding client Haynes Publishing Group P.L.C. on its acquisition by Infopro Digital Group, for a sum of £114.5m.
Haynes Publishing became famous for producing its iconic car manuals but more recently shifted its focus toward digital products and its global professional HaynesPro offering, supported by a number of strategic acquisitions on which Michelmores advised in the last 5 years. The South West headquartered company employs over 300 people globally and was founded in 1960.
In 2019 Haynes celebrated 40 years of being listed on the Full List of the London Stock Exchange, one of few British companies to be listed for such an impressive duration and a rare South West Full List PLC. Founder John Haynes who passed away in 2019, donated his large collection of classic vehicles to the Haynes Motor Museum in Sparkford, now one of the world’s most famous public collections of over 400 iconic vehicles and an award-winning tourist attraction in the South West.
The Buyer, Infopro Digital is one of Europe’s largest independent group leaders in B2B information and technologies. It delivers data, platforms, events and insights to professionals. Infopro Digital operates internationally in strategic sectors like automotive, construction, insurance and finance, industrials, public sector and retail.
The deal followed a formal process announced to the stock market with interest from potential bidders from around the world. The deal was executed by way of a scheme of arrangement and completed in April 2020. Michelmores supported the company alongside Fieldfisher and lead advisers Europa partners. Norton Rose acted for Infopro Digital.
James Bunkum, Chief Operating Officer at Haynes Publishing commented:
“Over recent years, Michelmores has supported us on a number of strategic acquisitions which have strengthened our brand and evolved our offering, as well as a variety of IP, employment, commercial, competition, litigation and property work.
This deal marks an end of an era, but an important and exciting next stage for the business and the team at Michelmores has been an integral part of the journey, aided by their understanding of our business and how we operate.”
Head of Corporate Richard Cobb, who has led the Michelmores team advising Haynes, said:
“Haynes Publishing is an iconic name in the automotive industry and the whole team at Michelmores is proud to have supported them and the wider team through this complex and significant transaction.
We are sure they will continue to thrive as part of a larger international group while maintaining the heritage brand assets that have supported their growth for so long”