Riverside Hits the Books with Latest Add-On January 21, 2009
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PE Firm’s Investment in Children’s Literature Reviewer Enhances Platform
Add-on acquisition for Media Source Holdings
Invested in 31 companies in 2008
Invested in 207 companies since founded in 1988
2003 Riverside Capital Appreciation Fund (“RCAF ’03”)
The Horn Book
Founded in 1924 in Boston, MA
- Publisher of two subscription-based publications for libraries and educators: The Horn Book Magazine and The Horn Book Guide
- The Horn Book Magazine focuses on children’s literature and includes book reviews, articles, editorials and advertisements; whereas, The Horn Book Guide rates and reviews over 2,000 titles in each semi-annual issue which includes almost all children’s books published during the six-month period.
- The Horn Book also produces The Horn Book Guide Online, a fully searchable database of more than 70,000 reviews, and Notes from the Horn Book, a monthly e-newsletter for parents.
Platform Media Source Holdings joined RCAF ’03 in April, 2007. Media Source through its ownership of Junior Library Guild has a long tradition of serving the children’s literary market by providing its customers with the highest quality children’s and young adult books. Junior Library Guild, founded in 1929, provides a subscription-based children’s book service to libraries.
Suzanne Kriscunas, Riverside Managing Partner
“Riverside and Media Source management are particularly pleased with the acquisition of The Horn Book, as the company has an outstanding reputation, serves the same end market as Media Source and fits perfectly with the strategic goal of becoming the librarian’s partner. In addition, there are multiple marketing and sales opportunities for both companies with an excellent outlook for organic growth.”
Randy Asmo, Media Source CEO
“The Horn Book is a great fit for Media Source as it allows us to immediately add value to our current customers by adding a well-respected product to our offering. We anticipate The Horn Book products will experience similar success because the products of Media Source are highly complementary to the Horn Book’s review publications and services.”
Roger Sutton, The Horn Book Editor-in-Chief
“The expertise, enthusiasm and resources that Media Source brings to the table will allow us to enlarge our audience while maintaining our independent viewpoint and high standards. In addition, our print and digital publications will be refreshed, redesigned and rethought — but always in line with founder Bertha Mahony Miller’s directive to ‘blow the horn for fine books for boys and girls.’”
Suzanne Kriscunas, Managing Partner; Peter Tsang, Vice President; Martha Anders, Vice President; Steve Burns, Associate; and David Gold, Operating Partner. The transaction was sourced by Scott Gilbertson, Principal, Origination.
The Riverside Company is the largest global private equity firm focused on the smaller end of the middle market (“SEMM”) and is one of the industry’s most experienced leveraged buyout investors. Riverside invests in premier SEMM companies valued up to $150 million and partners with strong management teams to build companies through acquisitions and value-added growth. Since its founding in 1988, the firm has invested in 207 transactions with a total enterprise value of $4.4 billion. Riverside’s current portfolio in North America, Europe and Asia consists of 67 companies with combined annual sales of $3.2 billion, EBITDA of $517 million and more than 14,000 employees. Riverside offers certainty to close and can complete acquisitions in as little as 45 days, thanks to its $2.5 billion of capital under management, over 180 professionals in 18 offices (Atlanta, Brussels, Budapest, Chicago, Cleveland, Dallas, Eindhoven, Hong Kong, Los Angeles, Madrid, Munich, New York, Prague, San Francisco, Seoul, Stockholm, Tokyo and Warsaw), and long-standing relationships with partner lenders. Six of the firm’s nine mature vintages are currently top quartile, and Riverside’s investors include the world’s leading pension funds, endowments, funds-of-funds, insurance companies and banks.
Media Source Holdings has a long tradition of serving the children’s literary market by providing the highest quality books to customers across the U.S. Media Source through The Junior Library Guild focuses on promoting and selling children’s books. The Junior Library Guild provides a subscription-based children’s book service to libraries, which has been reviewing and selecting books for its Junior Library Guild award for more than 75 years.
The Horn Book was founded in 1924 to herald the best in children’s literature. The Horn Book Magazine and The Horn Book Guide are the most distinguished journals in the field of children’s and young adult literature and the core of the company. In addition, the company produces The Horn Book Guide Online, a fully searchable database of more than 70,000 reviews, as well as Notes from the Horn Book, a monthly e-newsletter for parents.