By Jon Robinson,Oli Scarff
Copyright cityam
Lord Alan Sugar has sold a part of his business empire to one of the largest media giants in the country.
Amscreen, which produces digital signage, has been taken over by Bauer Media Group, according to new filings with Companies House.
The division formed part of Lord Sugar’s Amshold Group and is headquartered in Bolton, Lancashire.
Employing more than 60 people, the company operates in the likes of the UK, France, Denmark, Ireland, Italy, Poland, Spain, Sweden and Belgium.
Lord Sugar has served as Amscreen’s chairman while his son, Simon Sugar, is its chief executive.
Amsreen has been contacted by City AM for comment. Bauer declined to comment.
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Bauer Media Group is headquartered in Germany and was founded in 1875.
It owns more than 600 magazines, over 400 digital products and 50 radio and TV stations, as well as print shops, postal, distribution and marketing services.
Following the takeover of Clear Channel Europe in April this year, it also operates out-of-home advertising across the continent.
In the UK, the group owns the likes of magazines Heat, Empire and Grazia as well as radio stations Kiss FM, Absolute Radio and Magic.
Amscreen’s new owner, Baurer Media Outdoor International, previously traded as Clear Channel International before its own takeover.
According to its most recent financial accounts, for 2023, the firm’s turnover totalled £52.7m, up form £41.7m, while it went from making a pre-tax loss of £3.9m to a profit of £18.9m.
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In March, City AM reported that Amscreen’s previous owner, Amshold Trading had posted a record profit despite falling sales.
The business reported a pre-tax profit of £10.8m for the 12 months to 30 September, 2024, up from the £8.4m it achieved in the prior period.
Accounts filed with Companies House also showed its turnover declined from £28.4m to £27.1m.
Amshold Trading includes Amsprop, the unit through which Lord Sugar holds his property investments.
At the time, the group said its turnover decreased by four per cent “due principally to the slightly fewer sales of the Waferlite products and income from media activities remained static”.
In March, City AM reported that Lord Alan Sugar had sold his entire stake in an engineering and technology recruitment agency which he has backed for more than four years.
Hernshead Group was set up by Tom Johnson in 2019 who shortly afterwards persuaded Lord Sugar to invest despite him not going on hit BBC One show, The Apprentice.
Johnson has now taken full control of the Reading-base company and is planning to expand across Europe and North America.
Lord Sugar had held 45 shares in the business while his long-time business associate Michael Ray held five. Johnson held 50 shares before the management buyout, according to a document filed with Companies House.
