(Monday 19th July, 2004) Norwich publisher Schofield Publishing, sister company to the Chicago-based Schofield Media Group, is adding to this year’s exceptional growth with the successful acquisition of Hartford Publications, and its two highly regarded business to business magazines Railway Strategies and Modern Utilities Management. This brings Schofield Publishing’s European stable of magazines up to six, with these new titles added to its already successful Venture, Food Chain, Manufacturing Today, and Construction Today. In total the company now publishes 13 titles, seven of which are US-based (US Business Review, Manufacturing Today, Construction Today, Food and Drink, HPC World, Furniture and Interiors and OG&M.)
This significant investment is the latest in a series of developments from Schofield Publishing, in a year where the company has seen rapid growth and expansion, both here at home and in the States.
Twelve months ago, new MD Mike Tulloch was managing nine employees from an office in Beccles, Norfolk. Recognising the enormous growth potential of the business, he quickly recruited some key member’s of staff (including Editor Libbie Hammond and Sales Director David Garner) and moved the production department to a separate location.
However, this couldn’t contain the growing business for long, and in October 2003 a second move was made, consolidating the company under one roof in new Norwich offices, and enabling further recruitment – the company’s staff currently number over 50.
Keen to maintain the pace of this expansion, Mike Tulloch and Andrew Schofield, Schofield Media Group Chairman and Chief Executive (and former co-founder of Norwich-based Conquest Business Media) were looking for further growth opportunities and the acquisition of Hartford Publications fit the bill perfectly, offering two established and successful magazines that contain excellent opportunities for development and significant growth potential.
Mike Tulloch commented: “The acquisition of these two titles, which blend well with our current portfolio, will add a new dimension to our ability to get relevant business stories and information to an ever-widening readership."
He continued: "All of our employees have the knowledge and experience to enhance the magazines’ content and credibility in the marketplace. I feel confident that Schofield Publishing will soon be leading the way in business magazine publishing across Europe.
“Working on six titles will be a new challenge, but I feel confident that I have a great team around me and predict further acquisitions and expansion from us in the future.”
Visiting the UK from his own newly expanded US office, Andrew Schofield, Chairman and CEO of the Group, concluded: “I see this acquisition as part of our continued determination to develop the business into a leading international media company.”
Established in 1999, Schofield Publishing has quickly built a reputation as a publisher of high quality, award-winning publications, in market areas that are highly desirable to advertisers.
With this fiscal year's sales turnover projected at $20 million worldwide, Schofield Publishing employs 150 people in offices in Norwich, UK and Chicago, US. Its current magazines (Venture, Food Chain, Manufacturing Today and Construction Today in Europe, and US Business Review, Manufacturing Today, Construction Today, Food and Drink, HPC World, Furniture and Interiors and OG&M in the US) are read by senior managers across the globe.
For further information contact:
10 Cringleford Business Centre
Tel: 01603 274130
Fax: 01603 274131
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