Segulah IV acquires Mitt i
Segulah IV has signed an agreement to acquire Lokaltidningen Mitt i AB (“Mitt i”).The seller is VLT AB, which is part of Stampen Media Group. Mitt i publishes 31 local newspapers in the Stockholm region, from Vallentuna in the north to Haninge in the south.
“Mitt i is a profitable company with great potential,” says Marcus Jansson, partner at Segulah. He continues:
“Mitt i is a well-established brand. We see a number of different opportunities for growing the business during the years ahead.”
Mitt i reaches approximately 900,000 readers every week and generated revenues of MSEK 300 and operating earnings (EBITA) of MSEK 70 in 2013. The agreement includes a clause stating that the purchase consideration is confidential.
Joachim Berner, with background as manager and editor of several news organizations and board member of different listed and private companies, will be appointed Chairman of the Board. Dan Lannerö, former president of Eskilstuna-Kuriren and Upsala Nya Tidning, will also be on the Board.
“Mitt i is a well-managed company with an excellent journalistic concept. I look forward to supporting its management and employees in their efforts to further develop the business,” says Joachim Berner.
Mitt i’s president, Thomas Nyhlén, comments as follows on the transaction:
“The management team and I view positively the opportunity to continue to make really good local newspapers together with Segulah and a new board of directors.
Martin Alsander, acting Chief Executive Officer of Stampen Media Group, comments as follows on the transaction:
“We are delighted with this transaction and I believe that, with Segulah IV as its owner, Mitt i will have excellent opportunities for further development.”
For further information, please visit www.segulah.se or contact:
Joachim Berner, telephone +46 (0) 706 201150
Marcus Jansson, telephone: +46 (0) 709 68 82 84
Martin Alsander, telephone: +46 (0) 709 24 20 34