Management Buyout at Peter Lang
Peter Lang Children’s Trust sells Publishing Group to Management Team
The Peter Lang Academic Publishing Group is delighted to announce its new ownership. A group of senior management and board members of the company have joined forces in a management buyout deal. This exciting new development means that the future growth and direction of the Group is now in the hands of its key members, allowing it to consolidate its reputation for quality, to acquire new digital tools and to pursue its geographical expansion plans in the Middle East and East Asia on a secure footing.
The Peter Lang Academic Publishing Group publishes 1,800 new titles each year in traditional and digital formats, as well as Open Access and has an active back list of 55,000 plus titles.
For over 40 years it has consistently delivered on its mission of making academic research in the humanities available worldwide. Through its five independent but complementary publishing houses (Switzerland, Germany, USA, UK, Belgium) it provides local expertise to academics, which is key in the humanities and social sciences.
The new management team are Claude Béglé (SymbioSwiss Sarl) as Chairman of the Board, Kelly Shergill as CEO and Deputy Chairman of the Board, Vanessa Weber as CFO and Abdurahman Kaymaz as Head of Warehouse and Logistics. All four have worked closely together for several years and have a clear vision for the future of the Group.
The current owner is the Peter Lang Children’s Trust, based in the UK, which inherited Mr Peter Lang’s estate on his death in 2001. Recently, the Trust have decided to focus on their own field of expertise and after an intensive consultative process supported by the financial advisor Affentranger Associates, www.aasa.com, a purchase agreement was signed. The change in ownership will be fully effective by mid-2015.
Stuart Wilkins who led the process on behalf of the Trust states: “The Trust Board recognised that their expertise is in the children’s charity and they felt an obligation to the memory of Peter Lang and the employees to find a ‘better strategic’ owner for the publishing business that is more able to take the business forward. They see the MBO as an excellent opportunity to achieve this aim.”
Claude Béglé, Chairman of the Board of Directors, confirms: “We have the firm intention to develop Peter Lang further. We are convinced that good global Swiss companies have a bright future, when they are based on quality. This is precisely the case for Peter Lang. We are closely associated with the fast developments taking place in the academic world.”
Kelly Shergill, CEO and Deputy Chairman adds: “Peter Lang is a ‘jewel’ in the publishing industry that quietly yet solidly serves the requirements of academics worldwide. We are a major supplier of content, in whatever form desired by the academic community and agile because of our independence and size, placing the group at the forefront of a rapidly changing industry.”
Key Media Contact: Simon Reber
Tel. +41 323761763