Newsco Insider seeks Managing Director
B2B publisher, Newsco Insider is recruiting for a new managing director, following the decision by the current MD to move into the role of chair.
The move comes following last month’s announcement that it was on track to record its best trading results for more than 3 years.
In that trading update, Marlen Roberts also confirmed that the publication was not on the market:
“Our success has attracted suitors, as you would expect for a well-established brand punching above its weight, but as we drive towards record heights the message from me and my fellow shareholders is the same as ever: 'we are not for sale, any rumour we are is just that, a rumour, because our work here is far from being completed’."
The company, which publishes print titles covering half a dozen UK regions has around 60 staff in its 8 offices. The company is based in Manchester and was bought by the owners of the Yorkshire Post (Regional Independent Media) in 1999 and subsequently underwent an MBO in 2005.
"In the next three years I believe that we will see Insider move into the largest growth phase of its recent history. Today, Insider is a very different animal to the company my buyout team took control of in 2005 and is now really three businesses in one,” stated Roberts this morning.
"For us to seize the opportunities presented by all of these thriving divisions, I have decided to bolster our executive team by recruiting a new MD. As a result, I have taken up the role of chair and, alongside my commercial director and fellow shareholder Andy Slim, will have access to more senior management resources to oversee the expansion planned.”
Roberts owns c54% of the holding company Insider Media and Slim owns c23%.
In the year to Dec 2007, the company made £675k ptp on sales of £6.98m and had shareholders funds of c£2m including over £1.1m cash in the bank.
For the year ending Dec 2016, the last year the company filed its accounts, shareholders funds had dropped to £151k and cash at the bank was £152k.
Insider’s main rival The BusinessDesk itself also underwent an MBO last year following an earlier acquisition of the Leeds-based company by a Midlands entrepreneur Mark Hales. Hales remains a minority shareholder at TBD. TBD does not publish any print titles but it too has moved increasingly into the live events arena to increase sales. Its headcount is much lower than Newsco Insider's at 14 staff.