Macfarlanes and Ashurst have bagged roles on the sale of publishing house Incisive Media to private equity house Apax Venture Capital for £199m.

The bid sees corporate partner Nicola Richards lead the team for regular Incisive advisers Macfarlanes as the publishing house received a cash offer this morning (21 September). Incisive's roster of leading business titles includes Legal Week, Risk and Investment Week.

Macfarlanes also advised Incisive when it acquired the remaining stake in Legal Week last September for £5.7m and on the £35.2m acquisition of Risk Waters Group in 2003.

Ashurst private equity partner Stephen Lloyd and banking partner James Hogben lead the team advising Apax. The team has been working on the deal for around four weeks. Other firms on Apax's panel include Weil Gotshal & Manges and Freshfields Bruckhaus Deringer.

Freshfields corporate partners Matthew Cosans and Stephen Hewes advised Incisive shareholder Caledonia.

Dickson Minto corporate partner Andrew Nuthall advised management, which is taking a stake in the company.

The deal, which is subject to shareholder approval, is expected to close in December.