Shakespeare Martineau advises West Midlands business on sale of Guernsey Press
West Midlands-based Claverley Group, has successfully sold the Guernsey Press, including the publication’s press and digital assets.
Claverley Group is an independent parent company based in Wolverhampton which offers products and services based around news and information including the Express & Star and Shropshire Star newspapers, along with a number of other publications, design companies and printers.
Launched in 1813, The Guernsey Press is one of the island’s oldest businesses. For over 200 years it has acted as the voice of the community, providing residents with local news and entertainment.
A positive move for the newspaper, this sale by Claverley will allow the business to enter a new era with local Guernsey company, the Channel Islands Media Group Limited, a joint venture between Bailiwick Investments Limited and MXC Capital Limited.
Claverley Group was advised by law firm, Shakespeare Martineau on all legal aspects of the transaction, including liaising with local Guernsey lawyers, Ogiers, on various cross-jurisdictional matters such as pensions and employment.
A longstanding client of Shakespeare Martineau, Claverley Group has worked with the firm on a series of acquisitions and disposals over the years.
Richard Wrigley, partner and head of corporate and commercial at law firm, Shakespeare Martineau said: “The Guernsey Press has a rich and valued heritage. The decision by Claverley Group to return the paper to Channel Island ownership is significant and will help it maintain a local presence and continue to improve its services and product offerings.
“Claverley has been an excellent custodian of the Guernsey Press for a number of years, but now the time has come to move on. Safe in the knowledge that the paper is secure hands, the business can continue to drive growth in its other media companies and brands.”
Phil Inman, CEO of Claverley Group, said: “The Guernsey Press has been a valued part of the Claverley Group, building upon its strong heritage to remain the leading voice for the community. I am sure it will go from strength to strength, particularly as it will benefit from the fresh injection of energy and new ideas generated by a change of ownership.”