Publishing firm NPI Media has secured funding for the £15 million acquisition of three rivals. It received £5.5 million from Octopus Investments and debt finance from GMAC Commercial Finance.

Publishing firm NPI Media has secured funding for the £15 million acquisition of three rivals. It received £5.5 million from Octopus Investments and debt finance from GMAC Commercial Finance.

The acquisitions comprise Phillimore and Co, Sutton Publishing and Jarrold Publishing. They are part of an expansion plan at NPI, following reorganisation of the company’s debt and equity.

Exeter-based NPI specialises in local interest history books. It owns subsidiaries in France, Germany, Ireland and the US.

Following the acquisitions, it now owns more than 2,000 titles and is expected to generate a turnover of at least £17 million. The company is looking to grow organically and make more acquisitions, with one due to be completed over the coming month.

NPI made a turnover of about £7.2 million and a pre-tax loss of £870,800 for the year to December 2005.

Axis International and Ashfords acted for NPI. Legal adviser to Octopus was Burges Salmon, while GMAC’s legal firm was Speechly Bircham.