Bertoli Mitchell advises ICAEW in its agreement with Progressive Customer Publishing to handle the publishing of ICAEW's member magazine and newsletter publishing portfolio

London, UK (July 2011)

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Deal Announcement

ICAEW, a world leader of the accountancy and finance profession, has appointed Progressive Customer Publishing (PCP) to handle its magazine and newsletter portfolio after a competitive tender. In February 2012 PCP will take over a suite of existing ICAEW communications reaching over 156,000 members and students internationally. PCP will build a significant team that will be responsible for eight different member and student magazines and linked digital channels. As part of the agreement, PCP will also be launching a new membership magazine, in print, digital and online formats, for all ICAEW Chartered Accountants, students and affiliates.

Bertoli Mitchell specialises in mergers, acquisitions, divestments and strategic alliances. We focus exclusively on the publishing and digital information sector, providing transactional strategic advice to assist our clients to deliver sustainable, profitable development. The firm supported ICAEW throughout its tender process, including valuation, negotiation, documentation, structuring, and facilitating communications with ICAEW's diverse stakeholder base.

Robin Fieth, Executive Director of ICAEW, said: "Our tender process began at the end of 2010 and involved many leading publishing groups and customer publishing agencies. PCP offered us a unique and innovative solution to develop our existing membership publications in a way that will drive forward our brand and reinforce ICAEW as a world leader of the accountancy and finance profession. Bertoli Mitchell's expertise and wise counsel throughout the process were (and continue to be) highly valued both in helping us to reach agreement with PCP and in the development of a publishing strategy for the benefit of our members and fit for the digital future."