NEW YORK, September 23, 2021 / PRNewswire-PRWeb / – Oaklins client DeSilva + Phillips, Workman Publishing, one of the largest and most respected independent book publishers in the United States, and Hachette Book Group today announced that Hachette completed the acquisition of Workman for $ 240 million. The transaction was closed after the successful completion of the regulatory approval process.
Michel Pietsch, CEO of Hachette Book Group, said: âThis is an important and exciting step for Hachette Book Group as we welcome an extraordinary publisher to HBG. We have a deep admiration for the Workman Publishing, its contributors, authors and illustrators, its books, its commitment to the backlist and its culture. The opportunity for HBG to partner with Workman is, I believe, a hugely beneficial opportunity for both companies, and our goal is to provide a new home that will allow Workman to continue to thrive and develop in exciting environments. . manners.”
Workman Publishing will be HBG’s eighth publishing group, comprising the Workman, Algonquin, Algonquin Young Readers, Artisan, Storey Publishing and Timber Press brands. The new group will be led by Dan Reynolds as senior vice president and editor. He will report to the CEO Michel Pietsch and will join the HBG Board of Directors. Dan Reynolds said, âA glorious Workman era has ended today and another, full of promise and opportunity, has begun. We are very happy to join the Hachette family of editors and energized by the prospect of learning working methods and finding new muscles.But I also want to take this moment to thank Carolan Worker for his wise leadership before and during this transition. I speak on behalf of everyone at Workman wishing him a retirement filled with the joys of life, including getting lost in a good book. “
Workman publishes award-winning content in many important categories including cookbooks, parenting / pregnancy guides, gardening, country life, humor, children’s books, gift books, fiction. , audio and a range of successful calendars. Workman’s Footprints are a staple in the publishing industry with tremendous brand recognition and a track record of consistently finding, cultivating and developing truly unique and remarkable titles. Workman has developed many of today’s best-known publishing franchises, such as WHAT TO EXPECTÂ®, BRAIN QUESTÂ® and Page-a-DayÂ® calendars.
Robin warner, Managing Director, Head of Publishing and Education, Oaklins DeSilva + Phillips, said: âWe have all witnessed remarkable business activity over the past 18 months. However, nowhere have I seen such an unwavering commitment to preserving the culture and caring for its people, in addition to performing a robust evaluation. Our mandate was to find such a buyer and Hachette kept its promises on all these points. I am proud to have been part of the team that found the right partner for Workman Publishing and I am honored to have represented such a smart and ethical entrepreneur as Carolan Worker. “
âRepresenting Carolan Workman and the Workman Publishing team has been one of the greatest privileges of my career. The company, its people, its culture and everything they have created over the past 54 years is truly exceptional. and one of the most admired publishing companies. From the start and throughout the process, Carolan’s top priority was the safety and well-being of its employees, as well as its authors, illustrators and its staff. We are delighted to have found a buyer who appreciates and will protect everything that makes Workman so special, âsays Joanna pierre herman, partner at Oaklins DeSilva + Phillips.
Oaklins DeSilva + Phillips is one of the world’s leading mid-market investment banks in the technology, media and telecommunications sector with more than 30 professionals in new York and over 90 Oaklins TMT professionals in 45 countries. The company started as a Media & Technology boutique bank in 1996, founded by Reed phillips and Roland DeSilva. In 2015, the company joined Oaklins, one of the world’s largest mid-sized banks with more than 70 offices and 850 professionals and more than 1,700 transactions completed in the past five years. ODP combines TMT’s in-depth expertise with a global perspective, delivering personalized, boutique-level service and high-level attention to each client while leveraging the vast global platform resources, staff and experience. Oaklins transactions. For more information, visit dp.oaklins.com.
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Joanna pierre herman, Oaklins DeSilva + Phillips, +1 212-651-2566, [email protected]
Robin warner, Oaklins DeSilva + Phillips, 212-651-2605, [email protected]
SOURCE Oaklins DeSilva + Phillips