Ascential sells DeHavilland to seal exit from BEP business

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Ascential Plc (LON:ASCL) has agreed to sell the DeHavilland brand to alternative asset management group Bridgepoint in a deal worth £15mln.

The deal marks the conclusion of the divestment of the company’s Built Environment & Policy (BEP) division, the data analytics and specialist information firm said in a statement.

It follows separate transactions for the Glenigan and Groundsure businesses.

Altogether the three deals generate some £257.9mln of proceeds.

The company noted, as previously announced, that it will allocate the capital to ‘core areas of focus’, in particular its fast-growing Digital Commerce segment.

It will also support new organic investments and potential M&A activity.

“We are delighted that Groundsure, Glenigan and now DeHavilland have found new owners who will continue to support their development as strong, independent businesses,” said Duncan Painter, Ascential chief executive.

“For Ascential, this transaction marks the achievement of a strategic priority to bring clearer focus to our core customer proposition: enabling our customers to design and create the right products, maximise their marketing impact and optimise their digital commerce performance.”

The company noted that its BEP businesses generated some £35.9mln of revenue and £17mln of earnings (adjusted EBITDA). It added that central costs allocated to businesses (which amounted to £4.2mln in 2019) will be mitigated through transitional services agreements and cost savings over the coming year. 

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