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8th March
1999
London March 8th, 1999 - The Board of Directors
of Thomson Directories Group Limited announced today that
it and its shareholders have decided to explore options with
respect to realising shareholder value and developing its
long-term potential. Thomson Directories has appointed Credit
Suisse First Boston to be its advisor.
Thomson Directories, which is currently owned by 3i Group
plc and its funds (with 51.1%), Advent International and
the
Thomson Directories management team, is a fast growing, profitable
UK directories business, in both traditional print and new
media. In 1998 the Company had revenues of over £88
million.
With a strong foundation in the UK paper directory market
(the Company publishes 167 directories under the "Thomson
Local" brand and serves over 85% of the UK population),
Thomson Directories is expanding fast into the internet market
as a directories content supplier via a series of strategic
partnerships, and is thus well positioned to participate in
the explosive growth in business on the internet. It also
has a growing range of business information products. Furthermore,
in a first step to internationalise its business, the Company
has exported its successful business model to a directory
venture in Belgium, Europe’s most developed directory
market.
Gary List, Chief Executive Officer of Thomson Directories
said, "Thomson Directories has enjoyed significant revenue
and profit growth in the last few years. As we enter the next
stage of the Company’s growth strategy, both in our
existing printed business and via the internet as well as
by international expansion, the shareholders believe that
it is the appropriate time to assess the available strategic
options to maximise shareholder value and the Company ‘s
growth potential."
For further information please contact our
Press office.
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