Globe Business Media Group sells books division to management-led team
London, 28 August 2015
Globe Business Media Group, the business-to-business content and connections company, has sold its entire portfolio of law books to a new company established by two of the UK’s most experienced law publishers. The purchase price has not been disclosed.
The books division, Globe Law and Business, was established in 2005. It now has some 120 titles, with particular strengths in energy, finance, commercial law and intellectual property. Most of its authors are drawn from Magic Circle and other top commercial firms, both in the UK and internationally.
The consortium behind the acquisition is led by Jim Smith, a publisher with a successful track record of buyouts in this field and, before that, a number of years on the UK board of LexisNexis. In addition to Smith, the management team and major shareholders include Sian O’Neill, the managing director of Globe Law and Business and founder of the list. All existing staff will transfer to the new company and O’Neill will maintain her role as managing director.
Jim Smith said: “I have long been an admirer of Globe Law and Business and believe there are some great opportunities to build on the strength of the publishing programme, as well as moving the business online. This acquisition is the initial platform for what I expect to be a significant professional publishing business in the future. I’d like to say a particular thank you to Tony Harriss and Nick Alexandrou of Globe Business Media Group, whose management of the sales process has been absolutely flawless.”
Tony Harriss, group managing director of Globe Business Media Group, said: “Sian O’Neill and her team have done a superb job of building an impressive list of titles. We believe that the future success of the books business can best be secured in the hands of specialist book publishers, leaving Globe to focus on its core growth strategy. Globe Business Media Group is delighted to be able to facilitate the new venture and wishes the team every success for the future.”
Legal advisers to the vendors were N M Edwards & Co of Highgate, and the Guildford office of TWM Solicitors acted for the buyers.
For further information, please contact:
Jim Smith, Globe Law and Business +44 1825 721303
Tony Harriss, Globe Business Media Group +44 20 7234 0606