History
Octane Magazine was launched in May 2003 following a chance meeting between David Lillywhite and Geoff Love. They were invited to a meeting to discuss the launch of a motoring magazine (eventually to be launched as Practical Performance Car) but came away with the idea for a classic magazine that focused on the upper-end market.
A team was quickly put together, consisting of Robert Coucher, previously editor of Classic Cars during its heyday; Sanjay Seetanah, former Classic & Sports car and Classic Cars Advertising Manager; David Lillywhite, ex-deputy editor on Classic Cars and freelance writer for a number of publications, and Geoff Love, ex Publishing Director at E MAP (now Bauer) Automotive.
Classic & Sportscar and Classic Cars were publishing magazines that targeted a broad range of cars, from restoration projects to exotic supercars. However, there was nothing really targeting the serious collector, the historic racing driver, or the devoted enthusiast. This gap in the market was the opportunity that the team of four identified and where Octane was to make its entrance.
The editorial concept was established, and the business plan created. All the team needed was funding. Obtaining finance for a magazine launch is not easy, but Sanjay, a Crystal Palace fan, knew another supporter who revealed he had Simon Jordan's phone number on his mobile. In a moment of drunken inspiration, Sanjay challenged his friend to call the Crystal Palace Chairman and see if he was interested in investing in a classic car magazine.
As luck would have it, Simon was looking for investments, and a couple of weeks later the four found themselves in the boardroom of the Grosvenor House Hotel being grilled by Simon, his tax advisor and financial advisor in a scene reminiscent of the Dragon's Den . During the day, Simon had been presented to five other potential entrepreneurs, and the Octane presentation came at 5.30pm.
After an hour of tough questions, Simon turned to his advisers and agreed to make the investment.
That was February 2003, and the magazine launched on 15th May of that year. The magazine achieved critical acclaim within the market very early on, and advertisers were prepared to support the magazine. Commercial success was slower to follow, but over time circulation grew to over 30,000 per issue.
The initial business plan outlined a trade sale within a three to five-year period as the most likely exit strategy for Simon Jordan, and it also identified Dennis Publishing as the most likely buyer. It was no coincidence that Octane took evo as its template in terms of production values and physical size. Remarkably, Dennis Publishing made an initial contact to say they liked what Octane was doing within six months of launch, and indicated they would be following its progress.
They had recently acquired evo magazine, so Octane would make a good fit in their portfolio.
It was three years later that Dennis expressed a real interest in the acquisition of Octane magazine, and this led to the purchase in May 2007. Since then the magazine has gone from strength to strength, with the founding team still at the helm. In addition to the version for the United Kingdom, Octane is now published in Italy, The Netherlands, Germany and Sweden. A Japanese and an Argentine edition launched in 2013.
In 2021, Octane and the rest of Dennis Publishing's automotive assets were spun-off to an independent company, Autovia.
