Phaidon Press has retained investment bankers Greenhill to show the publisher to prospective buyers. Current owner Richard Schlagman bought Phaidon out of bankruptcy in 1990 and “said that he had decided that it was time for another owner to lead its transition from a largely print business to the digital era of iPads, Kindles and other ereading devices.” He admits that Phaidon underwent “retrenchment” in 2009 and 2010 by says the company is “profitable and growing.” The FT says documents filed with the UK’s Companies House show sales of £25 million in the fiscal year ending June 2011 were up 17 percent from the prior year. The company reported a slim pre-tax profit of £411,000, which was an improvement from a loss of £149,000 the prior year.
