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Aberdeen Asset Managers Growth Capital sells interest in Mining Communications

The London office of Aberdeen Asset Managers Growth Capital announces the sale of its interests in Mining Communications Limited to a consortium of investors including Aspermont, an Australian publisher, and other existing executives and shareholders in Mining Communications. The sale of the interests in Mining Communications has generated a cash return for Aberdeen clients of Ł1.95 million, representing a 1.8x money return and an internal rate of return of 18%. The enterprise value of Mining Communications has grown from Ł1.9m to Ł3.8m since Aberdeen originally invested in 2003.

Mining Communications is the world's leading publisher of global mining and construction information. The company specialises in providing international news and information for the mining, tunnelling and drilling industries. Founded in 1835, the company's weekly newspaper, Mining Journal, has been committed to international coverage since its very early editions. Mining Communications is committed to providing its customers with leading access to global news and information in a variety of formats - from newspapers, magazines and books to an e-mail news service, an internet portal and the annual Mines and Money conference.

Aspermont is Australia's leading print and internet publisher to the mining, oil and gas and related sectors. Sir Robin Miller, an existing shareholder in the company and former Chairman of quoted publishing group EMAP, has been appointed as Non-Executive Chairman of Mining Communications.

David Nizol, Chief Executive of Mining Communications commented:

"We are delighted to have completed this transaction. Mining Communications has an excellent reputation for the quality and integrity of its products and I believe this gives us huge potential to expand the company both organically and through acquisitions. Our close ties with Aspermont, which is particularly strong in Australia, offer us further global coverage in this developing industrial sector.".

Neil MacFadyen, Investment Director of Aberdeen, added:

"Mining Communications has undergone significant change over the last three years which has resulted in a profitable and highly competitive business. The company has re-established itself as a leader and focal point of media excellence for the mining industry in Europe. In addition to revamping the company's traditional products, the management team has launched a highly successful conferencing business and two new magazines, and expanded its presence into Australia. It now has a platform that is in print, in person and on line. We wish the whole team at Mining Communications every success."

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