IGF delivers £650k funding package to The History Press
IGF has delivered a £650k combined invoice discounting and asset-based lending facility to specialist publisher, The History Press.
The Gloucestershire-based firm recently underwent a management buyout from its previous owner, private equity firm Octopus Investments. Following its acquisition by The History Press’ management team – managing director Gareth Swain, publishing director Laura Perehinec and sales director Jamie Kinnear – the business sought a new finance partner to fund the MBO activity and provide the organisation with working capital once the deal was finalised.
IGF’s facility will allow The History Press to focus on business productivity and further improve the quality of its publishing.
The History Press is the UK’s leading dedicated history publisher, managing and publishing approximately 15,000 titles distributed nationally through vendors including Amazon, Waterstones and the country’s historical sites.
Gareth Swain, managing director at The History Press, said:
“IGF’s team has been very supportive since our management buyout and clearly took the time to familiarise itself with our business’ needs. We are looking forward to leading The History Press through the next phase of its development and cementing its position as a vibrant, creative and truly independent publishing house.”
Jon Hughes, commercial director at IGF, adds:
“We are proud to support businesses like The History Press during times of transition and see great potential in the firm. With an ambitious, passionate management team on board, we are confident that the business will continue to excel and develop.”