Rcapital, the private investment firm who invested in a management buy out of photo agency Splash in 2018, have sold one of their 2020 local newspaper group acquisition Archant.
Newsquest Media Group has completed the acquisition of Archant Community Media Ltd from Rcapital.
• Archant owns a portfolio of leading local news brands principally in East Anglia, and also publishes a portfolio of successful regional County Life magazines. Its news brands include the Eastern Daily Press (EDP), the East Anglia Daily Times, Norwich Evening News, and Ipswich Star. Archant employs 760 staff and its head office is in Norwich.
Ash Reek, Operating Partner at Rcapital say: “Archant’s management team, led by Lorna Willis (CEO) and Nick Steven-Jones (CFO/COO), should be very proud of what they achieved over the past 18 months. With the support of Rcapital, they have formed a unique partnership with the courage and confidence to successfully transform this business. The working relationship has been fantastic from the outset and the progress we have made in a relatively short period is extremely impressive. I wish them every success for the future as they move into their next phase of Archant’s long and celebrated history.”