Major STM venture!
Holtzbrinck Publishing Group (“Holtzbrinck”) and BC Partners (“BCP”) have reached an agreement to merge Springer Science+Business Media (owned by funds advised by BCP) in its entirety with the majority of Holtzbrinck-owned Macmillan Science and Education (“MSE”), namely Nature Publishing Group, Palgrave Macmillan and the global businesses of Macmillan Education. This is a strategic transaction by Holtzbrinck and BCP aimed at securing the long-term growth of both businesses. It will create a leading global science and education publishing house with the opportunity to better serve its authors, the research community, academic institutions, learned societies and corporate research departments, as well as to extend its reach within the education and learning markets. Both companies have a highly complementary portfolio in terms of products (journals, books, databases and workflow tools) and end-markets (academic institutions, corporate research departments and individuals). The merged businesses will continue to offer the leading brands on which researchers, teachers and information professionals rely.
Upon completion of the transaction, the new group will be under joint control of Holtzbrinck and funds advised by BCP with Holtzbrinck retaining a 53 percent share.