Gresham has sold its stake in Standard Newspapers, achieving a multiple of 2.9 times its original investment. The group was founded in September 1994 when Gresham bought out the Tamworth Herald’s interest in the Herald Observer Newspapers and formed a new company. The original price of the buyout was undisclosed.
Standard Newspapers is a publishing company with a portfolio of titles including the Warwickshire and Worcestershire areas south of Birmingham and Coventry. The group publishes 18 newspaper titles that it delivers free of charge to over half a million homes every week.
Since Gresham made its investment the group has grown from publishing five titles with a weekly circulation of 97,000 copies to become the 15th largest newspaper publisher in the UK.
Ken Lawrence led the disposal on behalf of Gresham and William Sharpe of Olswang advised Gresham.