The UK’s fourth biggest local newspaper publisher Archant publishes more than 50 local news titles, including dailies the EDP, Norwich Evening News, Ipswich Star and East Anglian Daily Times.
Like many other organisations across the sector, the impact of the COVID-19 pandemic on the Archant business has been profound. This has placed the business under immediate financial pressure, compounded by the significant deficit in its defined benefit pension scheme and the longer-term funding requirements necessary to meet the scheme contributions.
“We are incredibly pleased to have worked alongside Archant’s management team and KPMG to put forward a plan that will restructure finances and inject fresh capital into one of Britain’s oldest local newspaper brands.” Chris Campbell, Partner at Rcapital.
Archant was advised by KPMG and Mills & Reeve. Rcapital was supported by legal advisers Squire Patton Boggs LLP and senior funding for the transaction is being provided by Secure Trust Bank.