Business Bio

Energy Storage Publishing Ltd, based in Goring-by-Sea, Worthing, launched its first title, Batteries and Energy Storage Technology (BEST) in 2003. The magazine is now firmly established as a principal source for keeping up with major industry developments worldwide.

Loan Amount

Undisclosed

Region

South Coast

Loan Type

MBO

Sector

Publishing


Their Journey

The world-leading publisher to the battery and energy storage industry has been sold in a management buy-out funded by ThinCats. The alternative lender was introduced to the vendor and the management team at Energy Storage Publishing Ltd by corporate finance firm EMC. ThinCats worked closely with the team and its advisers to gain a close understanding of the business and provide the purchase consideration for the deal.

Energy Storage Publishing Ltd, based in Goring-by-Sea, Worthing, was launched in 2003 by Gerry Woolf who has now sold the business to his management team, David Beckett and Vic Giles. Gerry will stay on as a non-executive director.

Energy Storage Publishing launched its first title, Batteries and Energy Storage Technology (BEST) in 2003. The magazine is now firmly established as a principal source for keeping up with major industry developments worldwide.

A sister publication, Chinese BEST, was added in 2010 to make the editorial excellence of the original magazine available in Mandarin to the burgeoning Chinese battery industry. A weekly news briefing is also published electronically in both English and Mandarin.

Gerry Woolf said: “I wish I’d known about these kinds of alternative funding operations years ago. The experience of working with ThinCats has been very positive. They got what we do and its importance in half an hour and we completed in just three weeks. The Batteries and Energy Storage market is really taking off and I am delighted to be helping David and Vic to take the business forward.”

Michael Gibbs, who with Nik Askaroff led the EMC team advising the company, said: "ThinCats was very easy to deal with and we know the business originator very well. They executed the transaction quickly and smoothly, enabling the management team to gain ownership and take the business forward with the vendor to meet its ambitious plans for growth.”

Andrew Tapsell, Business Originator at ThinCats, South Coast, added: “ThinCats' tailored funding facilities are ideally suited to businesses going through event-driven change, such as management buyouts and buyins, exits for private equity and retirement and mergers & acquisitions. We were delighted to support the management team with the desired quantum of funding to complete the MBO and wish them every success.”

Legal advice was provided by James Chadburn of Dean Wilson and Wright Hassall.


Website: www.bestmag.co.uk

I wish I’d known about these kinds of alternative funding operations years ago. The experience of working with ThinCats has been very positive. They got what we do and its importance in half an hour

Gerry Woolf - Founder, Energy Storage Publishing Ltd

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