The MBO team consists of Anne Somers (managing director), Mark Bridge (editor-in-chief), Simon Berti (sales director) and Pablo Luppino (finance director). All existing staff will be retained in the new company – ATG Media Ltd.
“We and our staff have dedicated many years not only to Antiques Trade Gazette, but to the wider art and antiques business. We are confident that we are the very best team for the job,” said managing director Anne Somers.
“For the past 14 years DMG has been a very supportive owner and has now helped us to ensure that the company remains in safe hands. Our clients can look forward to more innovative products and the exceptional service levels for which ATG is known. We would like to thank our partners at Matrix Private Equity and our bankers at HSBC for recognising the potential of the business and making this long-held dream a reality.”
The decision to sell Antiques Trade Gazette followed a strategic review of dmgworldmedia’s interests worldwide.
“Though it is no longer strategically aligned with our long-term objectives, we still see growth potential in this very specialised business,” said Michael Franks, chief operating officer of dmgworldmedia. “We are pleased that the management team stepped up and had the resources to acquire this business as we know it will be in good hands.”
The sale of ATG does not affect dmg’s US-based antiques publishing division.