4th June 1997
Thomson Directories Ltd, one of the largest independent classified directory pubishers in the world, has been sold to a 3i backed consortium that includes members of the Thomson management team. 3i is the UK’s largest provider of investment capital. U S WEST International is selling the company for £80 million.

Thomson Directories management team is headed by Gary List, Thomson’s current Chief Executive. The team also includes Linda Pancratz, John Hudson, John Rice, Doug Bisset, John Dean and Wendy Chase.

Thomson holds a unique market position in the local directory business. As part of its commitment to innovation, the company recently launched with a new, handier format version of its directory featuring a number of product enhancements which is currently being rolled out across the UK. This innovative design makes the directory both easier to use and provides more opportunities for advertisers.

"Thomson Directories is a growing business with positive operating profits in an expanding market, and we expect to make the most of that simple truth", said Thomson’s Chief Executive, Gary List. "The printed directory is used over 15 million times a week. Our primary focus will be to continue to develop and expand this product. We will continue to develop new media products when these make business sense".

Cressida Hogg of 3i said, "We are very pleased to be backing such a successful business. The Thomson Local is a well known product and I’m sure Gary and his team will make the most of the excellent opportunities that lie ahead".

Today’s announcement stems from U S WEST International’s stated objective to focus its operations on cable telephone and wireless communications, which represent more than 90% of investment to date. This means that Thomson Directories no longer fits into the company’s strategic international interests.

Gary Ames, President & CEO of U S WEST International, said "I am delighted with this transaction. We are selling a company that is successful and well established in its sector, yet no longer a strategic fit for our organisation".

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