Thomson Local has been established for over 25 years as the leading provider of multimedia local advertising, search and business lead generation data in the UK. The business distributes 174 editions of its directory to over 22 million homes and businesses across the UK every year, which are complemented by its thomsonlocal.com website powered by the UK’s most comprehensive database of over 1.8 million business listings. The business also provides its SME customers with direct marketing services and data solutions offerings.
Following a strategic review Thomson Local’s parent company, SEAT Pagine Gialle, decided to sell the Thomson Local business and we were appointed to advise on the disposal process.
We assisted the Thomson Local management team with maximising value from the sale of the business. We ran a targeted disposal process, identifying and approaching potential buyers through our network of sector specialists, regional advisory teams and international member firms.
At the outset of the disposal process it was evident that there were certain pension matters that would need to be addressed and our specialist pension advisory team were engaged by the Thomson Local management team to advise on a range of complex pension related issues. As the transaction progressed our restructuring team were also introduced as it became clear that the business would be sold through an accelerated disposal process.
Our sector and technical specialists worked as an integrated team and supported the Thomson Local management team in navigating through a series of complex financial, commercial and regulatory phases of the transaction with the business ultimately being successfully sold to Corporate Media Partners.
We have been delighted with the support and advice that the Grant Thornton team has given us during the disposal of Thomson Local. They were able to combine deep media sector knowledge with extensive technical expertise and were able to guide us through a series of highly complex pensions and accelerated M&A procedures and negotiations. The Grant Thornton team were instrumental to the success of the transaction and we look forward to working with them again in the future.
Gautam Sahgal Finance Director, Thomson Local Limited
