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.
M&A
Houghton Mifflin Harcourt Owner Looks to Merge Company with Cambium Learning
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, […]
Storytel Acquires Majority Stake in Bokfabriken
Swedish streaming audio company Storytel has acquired a 70 percent stake in Swedish publishing house Bokfabriken. The publisher will work independently within Stortel with ceo Lasse Brahme remaining in the position. Bokfabriken’s current owners will retain a 30 percent stake. “We are happy to welcome Bokfabriken to Storytel Group,” Storytel ceo Bodil Eriksson Torp said in a release. “Driven by entrepreneurship, they have established themselves as one of the leading publishers in the audio segment in Sweden and have a proven track record of publishing commercially successful content across various genres that resonates well with the Storytel audience. This acquisition […]
Penguin Random House to Acquire Australia’s Text Publishing
Text Publishing in Melbourne, Australia announced a deal in which they will be acquired by Penguin Random House. The publisher was founded in 1990 and has been majority owned by publisher Michael Heyward and senior editor Penny Hueston, in partnership with Maureen and Tony Wheeler (the founders of Lonely Planet). Heyward said in the release, “Text has created an unparalleled space for itself in Australian publishing. Now it’s time for a new owner to provide a home for the company’s entrepreneurial energies and its family of brilliant authors. We are lucky to have the right custodian in Penguin Random House […]
Harper Holland Acquires Altamira, Becht, Dominicus, and Hollandia
Harper Holland has acquired lifestyle imprints Altamira, Becht, Dominicus, and Hollandia from Gottmer Uitgevers Groep, effective March 1, 2025. Associated staff will stay on at the imprints. Jan-Joris Keijzer, managing director, HarperCollins Holland says in a release, “The lifestyle imprints Altamira, Becht, Dominicus, and Hollandia have an impressive publishing history, exceptional authors, and great books and have become strong brands in their own right, trusted by generations of readers. We are proud to welcome these brands and their fantastic supporting team members under the umbrella of the HarperCollins publishing group and look forward to shaping the future of the publishing house […]
2024: The Year In Mergers
It was a pretty odd and modest year in mergers and acquisitions if we are being honest. Not only were there no blockbuster deals, there were very few acquisitions of any significant scale at all. There was a cluster of distress sales, however: Australian retailer was bought out of bankruptcy reorganization, as was Tattered Cover in Colorado. Barnes & Noble Education avoided delisting of its stock through a complicated refinancing that left Immersion Corporation in control. Canadian retailer Indigo went private in order to reorganize and recover, and Endeavor went private again after only a few years as a public […]