Ink, the in-flight magazine publisher of the Virgin Atlantic, has appointed financial advisers as the owners of the company eye a multi-million-pound sale.
KPMG has been hired to examine “strategic options.”
A reported price tag amounting to £70m would cap a bumper payday for the majority shareholder of Ink, Endless and the firm’s three-man team of director-owners. Endless made its name by turning around Crown Paints. It bought a 53 percent stake in Ink last 2015 for £8m.
During an exclusive interview with City A.M., Michael Keating and Simon Leslie, the co-chief executives of the company, described how the demand for in-flight magazines had taken off.
Keating stated: “I would love to think that is because of our sparkly engaging editorial. But sometimes, people pick it up because they want to look at the route map.”
“Sometimes they want to see how much a muffin or a cup of tea is.
“Frankly, it doesn’t matter why they pick it up as long as they do pick it up, then they engage with it.”
Ink has improved from a small number of clients in 1994 to a stable currently including the magazines of Etihad, EasyJet, and American Airlines. The company has around 300 employees. Some insiders informed the Sunday Times that annual profits amounting to £7.9m would value the company at around £60m to £70m.