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Telcap Ltd sold to Euromoney Institutional Investor Plc

Fusion Corporate Partners are pleased to announce the sale of Telcap Limited, the publisher of the leading global telecommunications magazine, “Capacity” and the organiser of nine annual global conferences for a maximum consideration of £17.5M.

Telcap Ltd was founded in 2000 by Mark Kemp and Rachel Jones, both of whom have previously held senior positions at Risk Publications. Their magazine Capacity, has a BPA-audited circulation of 5,291 and a strategic focus on the wholesale telecomms market, catering for senior professionals within the industry including, carriers, their suppliers and customers. Telcap also run supporting conferences which are particularly strong in the market, with Capacity events being held in Europe, the US, Asia, Latin America and Russia.

Fusion was retained by the shareholders of Telcap to advise upon the development of the company and co-ordinate approaches to a select range of potential purchasers. The resulting structured deal not only enables Mark and Rachel to speed up and increase the growth of their global telecommunications business but will also provide further development opportunities within the Euromoney business umbrella.

The headline consideration is £17.5 million, with an initial consideration of £1.7 million (capped at £3 million) for 40% of the equity in Telcap Ltd. The deal makes provision for Euromoney to acquire the remaining equity in 15% tranches annually between 2007 and 2010, subject to the audited profits of the company, with the maximum consideration for 100% of the equity being £17.5 million.

Paul Slight and Mark Eisenstadt were the active Partners at Fusion responsible for the transaction and can be reached at pslight@fusioncorp.co.uk and meisenstadt@fusioncorp.co.uk

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Paul Slight

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