News Column

3i poised to bid for media data group Gorkana

September 1, 2014

OLIVER SMITH



FTSE-100 listed private equity outfit 3i is understood to be considering a bid for Gorkana Group, the media information and PR group owned by Exponent.


Gorkana operates a media database, with contact details of journalists and public relations advisers. It also offers social media monitoring and press cuttings, generating profits of 15m-16m in its most recent financial year.


Private equity group Exponent has hired DC Advisory to run the sales process for Gorkana, with the first round bids due 10 September, according to The Telegraph.


Exponent, which bought Gorkana in 2010 for 25m, is thought to be looking for bids of between 160m to 200m for the group.


Gorkana, named after a Gurkha who saved co-founder Alexander Northcott's life by rescuing him from a swamp while he was serving in the Royal Gurkha Rifles in Borneo, was founded in 2005.


Northcott, along with co-founder Michael Webster, both worked at City PR firm Brunswick before starting Gorkana with borrowed money and family cash.


3i did not respond to a request for comment.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: City A.M. (UK)


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