Archives for March 2025

Two companies that specialized in troubled retailers — Alteri and Modella Capital — are the reported bidders for WH Smith’s high street stores. Sky News suggests that, “a definitive deal could be announced at the time of WH Smith’s interim results in April.” The parent company announced the sale plans at the end of January. Sales in the division have been shrinking for many years now, and books have comprised a smaller portion of the revenue mix. A recent report in the Times indicated that management had concluded it was “unlikely” they would allow the new buyer to license the […]

The former leader in self publishing Author Solutions has been sold by the Najafi Companies, to Center Street Ventures. Najafi took Author Solutions off of Penguin Random House’s hands at the end of 2015. Penguin had acquired the business for $116 million in mid-2012 from Bertram Capital — about 3 months before Penguin and Random House agreed to merge.

Veritas Capital, the investment firm that took Houghton Mifflin Harcourt private in 2022, is reported to be preparing a merger between HMH and Cambium Learning — which Veritas acquired in 2018. Citing two people familiar with the plans, Bloomberg indicates the standard disclaimers: “Deliberations are ongoing and no final decisions have been taken, the people said, asking not to be identified discussing confidential information. A representative for Veritas declined to comment.” The merger has been expected since Veritas acquired HMH. Cambium carries $2.15 billion in debt and HMH has $2.5 billion in loans outstanding, according to Bloomberg. A year ago, […]