A pair of Birmingham entrepreneurs have bought business index Thomson Directories – which has landed on the doormats of homes in the region for three decades.
Sutton Coldfield pair Patrick Bradshaw and Paul Spinks have saved 320 jobs after taking over the Hampshire publishing firm out of administration for an undisclosed sum.
The pair have set up a series of trading companies – Corporate Media Partners, New Media Investment Solutions and Direct Research Company – which have taken over a selection of Thomson business units and assets.
The deal means that a large part of an overall 490-strong workforce is retained.
The duo already own several companies in the business information sector, including 118 Information, 118 Business Information, e-location and Market Location.
Mr Bradshaw said: “Thomson Local is a major brand in the UK which achieves instant recognition.
“We also believe that the Thomson online directory offering will be a useful resource from which a number of our larger licensing customers can benefit.”
Thomson Directories, which was founded in 1980 to rival the Yellow Pages, has 22 million copies of its blue phone book in circulation and made a £4.5 million loss in the first six months of this year.
Administrators were called in following deteriorating finances as customers increasingly switched from print directories to digital.