Barclays Corporate has provided senior debt facilities to support Exponent Private Equity LLP's ("Exponent") acquisition of BBC Magazines.

In a deal valued at £121m, Exponent has acquired the BBC's magazine division which publishes a portfolio of around 50 UK magazine titles.  Titles include the Radio Times, the UK's largest magazine by retail sales value, Olive and Garden's Illustrated.  In addition, the business will publish magazines under licence and contract publishing agreements for BBC programmes including Top Gear and Gardener's World.

The deal was agreed last week and will complete shortly once competition clearance is received.

Mike Giddings, Director in Barclays Corporate's Debt Finance team in the Midlands, who led the deal commented:  "We are delighted to have provided senior debt facilities to support Exponent's acquisition of BBC Magazines.  The business has an unrivalled portfolio of titles, a first class management team and a very strong financial track record.  We have an excellent relationship with Exponent and look forward to working with them and the BBC Magazines management team as they continue to develop the business."

Oliver Bower, Director at Exponent who led the transaction said: "We are very pleased to have worked with the team at Barclays again and are grateful for their support of this transaction.  They demonstrated a strong understanding of both the business and the sector. Their deal team played an important role in the success of the deal."