David Moran and Ulric Kenny of Ion Equity today acquired Ocean Media from Anglo Irish Bank, having previously established the company.
They confirmed that no redundancies are planned at the company, which runs The Event Production Show set to take place at Olympia from 1-2 February. Kenny told Event: "It’s all very positive and nothing is going to change."
The buyout was financed privately and leaves Ocean Media debt free. It now intends to launch and acquire new business.
Ocean Media was established by Ion Equity in July 2006 when it acquired the exhibitions and magazines businesses of Trinity Mirror for £41m. It also owns magazine Access All Areas.
Kenny will be chair of the company while Moran will be the CEO. Moran said: "They say you should never go back, but Ocean is a great company with strong products and fantastic people and I looking forward to growing Ocean again."
To let us know your thoughts, and leave a comment below.