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Deal Announcement: IBI sold to Boat International Media

Symmetry Corporate Finance are pleased to announce our latest transaction, having advised the shareholders of Boating Communications Ltd, publisher of International Boat Industry (IBI) magazine, to leading superyacht multimedia, events and intelligence company BOAT International Media (BOAT).

The acquisition sees BOAT strengthen its position in the B2B market. Founded in 1968, IBI is the most established and respected magazine serving the volume boat industry. The deal also includes IBI's market intelligence platform, IBI Plus, its digital channels and the company’s events.

Three of Boating Communications' directors, Ed Slack, Philippa Drysdale and Philip Pereira will continue with the company as will all the staff, while its executive chairman Nick Hopkinson, who has been associated with IBI since 1968, will act as a consultant to BOAT.

BOAT will maintain the B2B services IBI provides to the global boating industry and will develop its print and digital offering. IBI Plus, meanwhile, will complement BOAT's existing and market-leading BOAT Pro market intelligence platform, which serves the superyacht industry.

BOAT's co-CEO Toby Moore said: "This is an incredibly exciting partnership for both BOAT and IBI. The synergies are strong and the opportunities moving forward are huge, given IBI's credibility and authority in the B2B space."

Tony Euden, co-CEO of BOAT, added: “This natural alliance allows us to further develop both the BOAT and IBI brands. It offers us the opportunity to expand on the brilliant work that Nick and his team have undertaken over the past years especially within the data, digital and events arena.”

Nick Hopkinson, CEO of Boating Communications said: “I am delighted that we have found such a complimentary partner in BOAT to assist with the future development of IBI and that our combined resources will enable the new group to focus on providing the very best information and data available on both the super yacht and volume boat business globally.”

“Our experienced team will remain in place and I am pleased to have been have been asked to continue as a consultant after more than fifty three years involvement in the business.”

Jonathan Tate of Symmetry Corporate Finance commented: “We are delighted that this deal meets all the objectives the parties set out to achieve together, including further expanding BOAT’s international reach and securing the futures of the IBI shareholders.”

Nick Hopkinson of IBI also said: “Symmetry Corporate Finance were recommended to us as an effective & reputable advisor to help the IBI shareholders navigate their way through the whole sale process. Being an international business with multiple business activities, this was a complicated task. However the Symmetry team were with us every step of the way, helping us secure the best possible terms whilst ensuring the deal added value all round.”

Jonathan Tate

20th December 2021

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