(London, September 4, 2006) The van Tulleken Company announced today that it represented Veronis Suhler Stevenson in its disposal of Letts Educational and Leckie & Leckie for £12.4 million to Huveaux plc, the publisher of business and professional information. Letts and Leckie & Leckie, leading providers of study aids and revision guides in England and Scotland, are currently part of Granada Learning. The combined businesses will now have over 800 titles in both print and online format in the study aids and revision guides publishing sector. The disposal follows the acquisition of Granada Learning in July by Veronis Suhler Stevenson. The van Tulleken Company represented Veronis in the transaction. Previously The van Tulleken Company had represented the interests of ITV plc in its disposal of Granada Learning in April of this year. Founder and CEO of The van Tulleken Company, Kit van Tulleken said, "Letts and Leckie are highly complementary to Huveaux's existing Lonsdale revision guides business. This excellent transaction will strengthen Huveaux's revision and study aids business, giving the business a market-leading position with an unrivalled portfolio." The consolidated revenues of Letts and Leckie for the financial year ended 31 December 2005 were £10.0 million and the underlying consolidated operating profit was £1.5 million. The net assets of the combined businesses were £5.2 million as at 31 December 2005. The total consideration of £12.4 million comprises of a £12.2 million cash payment and the satisfaction of £0.2 million debt on completion. About The van Tulleken Company: The van Tulleken Company (www.vantulleken.com) is a leading international advisor to corporate clients, media executives and entrepreneurs on mergers and acquisitions in the publishing and information industries and all areas of intellectual property. With offices in New York and London, its clients include large international companies as well as small and medium-sized private firms in the United States, the United Kingdom and Continental; Europe. About Veronis Suhler Stevenson: Veronis Suhler Stevenson (www.vss.com) is a private equity and mezzanine capital fund management company dedicated to investing in the media, communications, information and education industries in North America and Europe. To date, Veronis has invested in 42 companies, which have in turn completed over 200 add-on acquisitions resulting in a portfolio worth approximately $9.1 billion.
(London, September 4, 2006) The van Tulleken Company announced today that it represented Veronis Suhler Stevenson in its disposal of Letts Educational and Leckie & Leckie for £12.4 million to Huveaux plc, the publisher of business and professional information.
Letts and Leckie & Leckie, leading providers of study aids and revision guides in England and Scotland, are currently part of Granada Learning. The combined businesses will now have over 800 titles in both print and online format in the study aids and revision guides publishing sector.
The disposal follows the acquisition of Granada Learning in July by Veronis Suhler Stevenson. The van Tulleken Company represented Veronis in the transaction. Previously The van Tulleken Company had represented the interests of ITV plc in its disposal of Granada Learning in April of this year.
Founder and CEO of The van Tulleken Company, Kit van Tulleken said, "Letts and Leckie are highly complementary to Huveaux's existing Lonsdale revision guides business. This excellent transaction will strengthen Huveaux's revision and study aids business, giving the business a market-leading position with an unrivalled portfolio."
The consolidated revenues of Letts and Leckie for the financial year ended 31 December 2005 were £10.0 million and the underlying consolidated operating profit was £1.5 million. The net assets of the combined businesses were £5.2 million as at 31 December 2005. The total consideration of £12.4 million comprises of a £12.2 million cash payment and the satisfaction of £0.2 million debt on completion.
About The van Tulleken Company: The van Tulleken Company (www.vantulleken.com) is a leading international advisor to corporate clients, media executives and entrepreneurs on mergers and acquisitions in the publishing and information industries and all areas of intellectual property. With offices in New York and London, its clients include large international companies as well as small and medium-sized private firms in the United States, the United Kingdom and Continental; Europe.
About Veronis Suhler Stevenson: Veronis Suhler Stevenson (www.vss.com) is a private equity and mezzanine capital fund management company dedicated to investing in the media, communications, information and education industries in North America and Europe. To date, Veronis has invested in 42 companies, which have in turn completed over 200 add-on acquisitions resulting in a portfolio worth approximately $9.1 billion.
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