Bertram Capital completes USD116m sale of Author Solutions to Pearson
Bertram Capital has sold Author Solutions to Pearson, a learning company and parent of Penguin Books.
The USD116m all-cash deal marks Bertram Capital's third portfolio company exit in the last nine months.
Since Bertram Capital's investment in 2007, ASI has grown to be a leading provider of professional self-publishing services.
"ASI's extraordinary growth and its impact on the self-publishing industry clearly demonstrate the capability our buy and build approach has to create market leaders that are attractive acquisitions for strategic buyers," says Jeff Drazan (pictured), managing partner at Bertram Capital. "We successfully executed three add-on acquisitions for the ASI platform and grew the business more than 4x in just over five years, ultimately creating the world's largest self-publishing business."
"It has been a privilege to work in partnership with Bertram Capital to create a true market leader and innovator," says Kevin Weiss, chief executive of ASI. "Bertram's business-building approach, their guidance, and their expertise provided the tools for the ASI team to bring the self-publishing market into mainstream publishing."
- Special Reports
- By Location
- By Subject
Latest Special Report
- How to set up a hedge fund