In a management buyout by the existing editorial and publishing staff the UK’s business to business magazine International Boat Industry has been acquired by Boating Communications Ltd from Time Inc (UK) Ltd.

In February Time Inc. decided to close its business-to-business marine division.

So, director Nick Hopkinson and three former members of the staff — Edward Slack, Philip Pereira and Philippa Drysdale — negotiated an asset purchase through their company, Boating Communications Ltd, which has been accepted by Time Inc. UK and ensures the future of IBI and IBI Plus.

The four have been appointed directors of Boating Communications Ltd. with roles similar to the ones they had with Time Inc before the title closed. “With no interruption to its publishing schedule, we are intent on providing the level of drive and investment in the business to ensure IBI remains a vital link and information source in print and online for the global leisure marine industry,” Hopkinson said in a statement.

Nick Hopkinson helped launch IBI in 1968 and was the sole proprietor of the publication for several years. He has been its publisher for 49 years. “We are confident that following several very tough years the market is finally beginning to show signs of sustained growth, which justifies this investment,” he said. “I am looking forward to seeing IBI flourish during the next 50 years, or at least a good part of it!”

“Being part of large multinational corporations in the past hasn’t always been in IBI’s best interest, so it’s good to return to our roots as an independent publisher,” Hopkinson added.

Boating Communications Ltd. also acquired the trademarks and publishing rights to Superyacht Business magazine, together with its website and newsletter, and a further announcement about the future of the title is expected shortly.

Nick Hopkinson

Ed Slack