The management team at Maiden Outdoor have mounted a second buyout, providing an exit for its original institutional investors. In April 1993 Maiden was the subject of an MBO when the company was acquired from the family, for the sum of £21m. As a result of this buyout, Maiden will be totally owned by its management.
As a result of Maiden’s healthy business performance over the two years, not only has the second buyout been mounted, they have also forecast an eventual flotation of the business. As well as funding the MBO, the healthy performance has allowed the acquisition of British Transport Advertising. This acquisition now makes Maiden joint market leader in the medium, with around 20% of the overall market and around 30% of the 48-sheet sector.
The increased shareholding by the management at Maiden will be distributed more widely among key Maiden managers and the senior managers from BTA. Martin Boase remains as Chairman of Maiden.
Maiden: 0171 629 3333
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