Raconteur writes new growth story

April 4, 2012 - PRLog -- Special-interest publisher, Raconteur Media Limited, has today secured a £750k refinancing facility through Invoice and Asset Based Lender, ABN AMRO Commercial Finance.

The funding, incorporating £550k Invoice Discounting facility and a £200k Enterprise Finance Guarantee loan, has enabled a management buy out by Managing Director Freddie Ossberg. The funding will also support the London-based business’ international growth and expansion in multi-platform publishing.

Founded in 2008 by Freddie Ossberg and Henrik Kanekrans, Raconteur Media publishes premium editorial supplements on critical business and political issues in The Times and Sunday Times. Previous reports have included contributions from Sir Richard Branson, Chris Huhne and HRH, the Prince of Wales.

Already producing over 50 reports a year, Raconteur intends to increase its output by 25 per cent in 2012-13 through its collaboration with The Wall Street Journal Europe. The company will also pursue multi-platform growth by expanding its digital publishing arm.

Ossberg comments: “This business has huge potential as the publishing industry continues to evolve. I needed the right funding to help pursue my vision for the business and support significant growth.”

“I looked at every type of funding option including venture capital and private equity and found that for a management buyout, asset based lending and invoice financing was my best option. When I discussed my requirements with ABN AMRO Commercial Finance, they showed a great deal of interest and the flexibility I need to help me meet my ambitions for Raconteur.”

Rick Owens, Regional Director at ABN AMRO Commercial Finance, comments: “Media companies aren’t the biggest users of invoice finance, so it’s great to be able to support an innovative and successful media brand like Raconteur. The funding will provide the financial footing and confidence the business needs to achieve its ambitious goals.”

# # #

About ABN AMRO Commercial Finance PLC (formerly Venture Finance PLC.)

ABN AMRO Commercial Finance is an award-winning Invoice and Asset Based Lender and part of the ABN AMRO Commercial Finance Group. Established in 1989, the company provides Factoring, Invoice Discounting, Export Finance, Structured Finance, Asset Based Lending and numerous related services to start-ups through to £250m turnover organisations. Providing consistent support via its 200+ staff and 11 regional offices, ABN AMRO Commercial Finance helps clients manage working capital, refinance, restructure, fund business opportunities and expansion, purchase new equipment and finance M&As.
http://www.abnamrocommercialfinance.co.uk


Further information

For further information or an interview with Freddie Ossberg or Rick Owens, please contact:
Xenia Kingsley or Lauren Greatorex at Man Bites Dog
0844 561 1416
xenia.kingsley@manbitesdog.com
lauren.greatorex@manbitesdog.com