Paul Comyn, Rockstar Mentor and Southnews PLC
Full case study
Southnews PLC: A Regional Newspaper business with turnover of that grew from £15m to £95m.
Paul Comyn came in as the Financial Director of the company following the management buy in. Over a 13 year period it grew from a £3m management buy-in to an exit by a trade sale for £285m. Paul's involvement was over a wide range of areas:
Acquisition planning and negotiation (executing over 13 successful acquisitions).
Post-acquisition re-organisation and management integration.
Communication with shareholders and other City relationships.
Responsibility for introduction and implementation of corporate governance standards in the group. Handling of relationships with professional advisors, including all legal matters.
All major aspects of banking relationships, in particular negotiation of finance for acquisitions.Development of the new media strategy and the group IT systems.
Paul helped the company grow from a small management buy-in to be London’s leading publisher of local newspapers and a, fully listed, well regarded company with a market capitalisation, at its recommended take-over, of £285m. Turnover grew from £15m to £95m and operating losses were transformed into profits of £20m. The shareholder made a profit on exit of £250m.