Bertoli Mitchell advises the shareholders of Osborne Books Limited in sale to Kaplan International Holdings Ltd
London, UK (February 2016)
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We are pleased to announce that Bertoli Mitchell advised the shareholders of Osborne Books Limited in the sale of Osborne to Kaplan International Holdings Limited, one of the world’s largest suppliers of education services and a subsidiary of US-based Graham Holdings.
Founded by Mike Fardon in 1985, Osborne specialises in publishing high-quality business and accountancy textbooks for students in Further Education and has a leading position in learning resources for students taking the Association of Accounting Technicians qualifications. The flagship product line is the Company's series of resources tailored to the nineteen units which comprise the three qualification levels of the AAT. The Company's portfolio also includes established textbooks for A Level Accountancy students.
This transaction was subject to confirmation from the Competition and Markets Authority (now received) that it would not refer the transaction for a Phase 2 investigation. The sale, first announced by Kaplan in November 2015, completed on 12 February 2016.
Bertoli Mitchell acted on behalf of Osborne's shareholders, providing our trademark end-to-end service and financial, strategic and commercial advice throughout the sale process. This transaction further reinforces our credentials in advising independent, family-owned enterprises, also recognised when we won Acquisition International's 2015 award for Best End to End Transaction Advisory Services & UK Dealmaker for our work last year in the sale of Pickering & Chatto (Publishers) to Taylor & Francis.
Mike Fardon (Founder and Managing Director of Osborne) commented: "We are delighted that the Osborne name has been acquired by Kaplan Publishing whose high level of expertise in professional education has worldwide recognition. The deal has been made possible by the support and professionalism of Bertoli Mitchell which has guided the Osborne management throughout this process and led the deal to a successful conclusion."