The deal at Pontllanfraith- based Pensord has seen a new management team replace chief executive Tony Jones (who lead a MBO team in 2003) and finance director Graham Lambert. The value of the deal is not being disclosed.

Darren Coxon becomes the new managing director and Karl Gater remains as operations director of the company, which has a team of 143 and more than 380 mostly controlled-circulation magazine titles in its portofolio.

Pensord has been based in the region for 41 years, having been set up by the Billboard Company of America to produce the weekly publication Record Retailer, now Music Week.

The outgoing chief executive said: “When I led my own management buyout in 2003 I felt it was the best route to turning an under-performing company around, and I now feel as a team we’ve achieved that objective, the job is done.

“It’s time for Graham and me to look for new challenges, secure in the knowledge that an MBO is again the best way to continue the legacy at Pensord.

“When I recruited both Darren and Karl, I was looking for people with the expertise in their fields who shared our ideology in creating a unique culture at Pensord. I am delighted that they will now succeed us to continue that culture into the future. This is a special company with special people working in it, and I have every faith that Darren and Karl will sustain and build on the success we’ve enjoyed as they take the company forward.”

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