The publisher of titles including Heating & Ventilation Review and DIY Week has undergone a management buy-out (MBO).

The publisher of titles including Heating & Ventilation Review and DIY Week has undergone a management buy-out (MBO).

Croydon-based Faversham House Group was acquired for a consideration of £4 million in a deal backed by Matrix Private Equity Partners.

The buy-out was led by Amanda Barnes, Faversham’s CEO, whose father Vic Gould founded the company in 1960. The exiting shareholders included several members of the Gould family, some of whom have reinvested in the new structure.

During the course of the MBO, Faversham House acquired the assets of Utility Week from publisher Reed Business Information.

Corporate finance firm Meta advised Faversham House, which has sales of around £10 million, on the deal.