EQT V and Government of Singapore Investment Corporation's private equity unit GIC Special Investments have agreed to close the buyout of Springer Science+Business Media to BC Partners. Springer Science+Business Media is a worldwide scientific, technical, and medical publishing firm. BC Partners is a private equity company.
The enterprise is valued at Eur3.3 billion which includes performance-related components, allowing EQT V to still be affiliated with the company in its development.
Springer was acquired by EQT V and GIC in 2012. The partnership enabled an increase of media and database experts. Derk Haank is the company's chief executive officer. Since its inception, the company have received investments worth Eur304 million. Springer has then improved its revenue figures by 12.6 percent to Eur341 million.
Partner at EQT Partners Marcus Brennecke (also investment advisor to EQT V), said that "The development of Springer's portfolio towards STM content and the significant investments into the digitalization of its business model provide an excellent basis for Springer's future success. EQT V announced to focus on the IPO track last Friday, but BC Partners then returned with a revised offer, which reflects a highly attractive valuation."
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