The planned sale of RBmedia by KKR to H.I.G. Capital closed last week. In the announcement, it was disclosed that another tech-focused private equity firm, Francisco Partners, had “partnered” with H.I.G. Capital in the purchase. Francisco Partners executives Matt Spetzler and Jason Brein said in the release: “We are excited to partner with H.I.G. to help usher in RBmedia’s next phase of growth as the audiobook industry continues to expand. Francisco Partners has extensive experience in audio and content publishing, technology and media and we believe audiobooks are at a positive inflection point. Working together, our capital and operating insights […]
M&A
As Expected, Majority Control of CAA Sold to Pinault Family’s Artemis by TPG
In alignment with previous news reports, private equity firm TPG will exit their 13-year involvement at CAA in a deal to sell their 53 percent stake to Artemis, the Pinault family’s investment company. (According to earlier reports, the deal is worth approximately $7 billion.) The transaction is expected to be completed later this year, “subject to the satisfaction of customary closing conditions.” CAA’s leaders Bryan Lourd, Kevin Huvane, and Richard Lovett have “each made long-term commitments to continue leading the agency and will remain” as co-chairs. After the deal closes, Lourd is expected to be named CEO. Singapore-based investment firm […]
Acquisitions: CJK Group Buys Worzalla
CJK Group has acquired Worzalla, a printer in Stevens Point, WI, whose projects have included the bestselling Wimpy Kid series. With approximately 340 employees, Worzalla has been in operation since 1892. The group’s main facility will be renamed Sheridan Worzalla. CEO of CJK Group Chris Kurtzman said in a release, “Worzalla has a tremendous market reputation and a well-defined niche in the children’s and trade book publishing markets. The addition of the Worzalla operation expands the spectrum of printing services for Sheridan’s clients, nicely augmenting our current strengths in the trade, education, academic, religious, and automotive publishing markets.” Earlier this […]
Acquisitions: Harriman House, and Scala
UK publisher Pan Macmillan has acquired business book publisher Harriman House. Harriman House will operate as its own imprint, with managing director Myles Hunt continuing to lead. Founders Philip Jenks and Stephen Eckett have left the company, but the 12-person staff will remain on. Pan Macmillan ceo Joanna Prior told The Bookseller, “I am delighted that we have come to an agreement to acquire Harriman House. It is a terrific company, publishing with entrepreneurial flair for a dedicated business market globally. We will help expand its overseas reach further, building on its already impressive growth in the US, and I […]
Klopotek Sells Majority Stake to Aspire Software Owner
ERP solutions company Klopotek has sold a majority stake in their business to Canada-based Valsoft, whose holdings include Aspire Software. Founder and ceo Ulrich Klopotek von Glowczewski will “step down from all his roles effective immediately due to personal reasons.” CTO and co-ceo Peter Karwowski will take over as ceo. Operating partner of Aspire Software Rafael Mazzeo says in the announcement, “The acquisition of Klopotek aligns seamlessly with their mission to remain at the forefront of the publishing technology domain, equipping publishers with advanced tools and solutions to navigate the evolving landscape successfully. The world class management team at Klopotek […]
KKR To Acquire S&S For $1.62 Billion
KKR officially announced after the close of the stock market on Monday that they will acquire Simon & Schuster from Paramount, for $1.62 billion, in an all-cash transaction, pending regulatory approval. S&S will become a standalone private company with Jonathan Karp remaining as president and ceo and Dennis Eulau continuing as coo and cfo. “All of the executives at Simon & Schuster who met with KKR came away from those conversations impressed with the depth of KKR’s interest in our business and their commitment to helping us grow, thrive and become an even stronger company,” Karp said in a release. […]