Oaklins DeSilva+Phillips' Client, Workman Publishing, to be Acquired by Hachette Book Group

USA - English

• USA - English

NEW YORK, Aug. 18, 2021 /PRNewswire-PRWeb/ -- Oaklins DeSilva+Phillips' client, Workman Publishing, one of the largest and most respected independently owned book publishers in the US, and Hachette Book Group announced that they have entered into a binding commitment for Hachette to acquire Workman. The transaction is expected to close after regulatory approval is received.

Michael Pietsch, CEO of Hachette Book Group, said, "We have admired Workman for decades, marveling at the spirit of innovation that drives their business, their strong brand franchises, their focus on backlist, the work culture they have nurtured, and the outstanding reputation they have established among authors, agents, booksellers, and the media. I could not be more thrilled to welcome Workman's incredibly talented employees and their brilliant authors and illustrators to Hachette. The Workman program will powerfully complement HBG's existing publishing programs, and this acquisition will unlock new opportunities for growth in exciting directions."

Carolan Workman, Executive Chair and President of Workman, said, "When Peter Workman launched our quirky little company over a half-century ago, it marked the beginning of a bold and joyful voyage. All these many years later, when I recognized that the time had come for Workman to have a new home, my first and foremost goal was to find a place where Workman's unique culture could prosper long into the future, a place where we could nurture and protect our greatest assets: our authors, illustrators, and, most of all, our amazingly wonderful staff. I am so happy to be joining with Hachette. They clearly respect not only what we are but who we are. I truly believe that our two companies will thrive together in this partnership."

Dan Reynolds, CEO of Workman, said, "Workman is defined by the brilliant leadership of Peter and Carolan Workman, and I am grateful that their work and, most importantly, their values will live on under new ownership. As I'm getting to know Hachette and their leadership team, I am ever more confident Workman will not only prosper in the days and years to come but remain an innovative leader in book publishing."

Workman publishes award-winning content across many strong categories including cookbooks, parenting/pregnancy guides, gardening, country living, humor, children's books, gift books, fiction, audio, and a bestselling calendar line. Workman's imprints are fixtures in the publishing industry with tremendous brand recognition and a track record of consistently finding, cultivating, and developing truly unique and remarkable titles. Workman has developed many of today's best-known publishing franchises such as WHAT TO EXPECT®, BRAIN QUEST®, and Page-a-Day® calendars.

Robin Warner, Managing Director, Head of Oaklins DeSilva+Phillips' Book Publishing and Education sectors, said, "We have all seen remarkable deal activity in the last 18 months. However, nowhere have I seen such an unwavering commitment to preserving a company's amazing culture and looking after its staff, in addition to achieving a robust valuation. Our mandate was to find such a buyer and Hachette delivered on all these points. I am proud to have been part of the team that found the right match for Workman Publishing and am honored to have represented such a smart and ethical entrepreneur as Carolan Workman."

"Representing Carolan Workman and the Workman Publishing team has been one of the greatest privileges of my career. The company, its people, its culture and all they have created over the past 54 years is truly exceptional and one of the most admired companies in publishing. From the beginning and throughout the process, Carolan's top priority was the security and well-being of her employees, as well as her authors, illustrators and culture. We are thrilled to have found a buyer that appreciates and will protect all that makes Workman so special," says Joanna Stone Herman, Partner at Oaklins DeSilva+Phillips.

Oaklins DeSilva+Phillips is a leading global mid-market investment bank in the Technology, Media & Telecommunications sector with over 30 professionals in New York and over 90 Oaklins TMT professionals across 45 countries. The firm began as a boutique Media & Technology bank in 1996, founded by Reed Phillips and Roland DeSilva. In 2015, the firm became part of Oaklins, one of the world's largest mid-market banks with over 70 offices and 850 professionals and 1700+ closed deals in the last five years. ODP combines deep TMT expertise with global perspective, providing personalized boutique-level service and senior-level attention to every client while leveraging the vast resources of Oaklins' global platform, staff and deal experience. For more information, visit dp.oaklins.com

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Media Contact

Joanna Stone Herman, Oaklins DeSilva+Phillips, +1 212-686-9700 Ext: 2566, [email protected]

Robin Warner, Oaklins DeSilva+Phillips, 212-686-9700 2605, [email protected]

SOURCE Oaklins DeSilva+Phillips