Bonhill sells Business Solutions & Governance division for £723k

26th Aug 2022 09:39

(Sharecast News) - AIM-listed B2B media business Bonhill said on Friday that it has sold its Business Solutions & Governance (BSG) division to Stubben Edge Group for £723,000 in cash.

The BSG division comprises brands, including SmallBusiness.co.uk, GrowthBusiness.co.uk, Information-Age.com, and DiversityQ which includes the 'Women in...' events series. In FY 2021, it reported audited revenues of around £2.4m and EBITDA of approximately £0.4m.

The consideration comprises an initial payment of £650,000 for the core trade and assets of the division, while the balance will be payable to reimburse the company for any deposits paid to secure venues less any advanced revenue received.

Bonhill plans to invest the net proceeds of the sale in live events; global ESG brand extensions and initiatives; content marketing solutions and video creation capability; and working capital purposes.

Chief executive Patrick Ponsford said: "Following completion, Bonhill is a global financial services specialist, expanding its product offerings and building expertise in its core markets in the US, UK, Europe and Asia."