White Plains-based Haights Cross Communications Inc. has sold its Oakstone Publishing business while suspending plans to sell two other business operations.
Haights Cross officials said Boston Ventures Management L.L.C., a private equity
firm, recently purchased Oakstone, a publisher of professional reference and continuing education materials based in Birmingham, Ala. The sale price was not disclosed.
The White Plains company has put on hold the sales of its test-preparation and intervention business, Triumph Learning, and its audiobook publishing business, Recorded Books.
Haights Cross Communications President and CEO Paul J. Crecca said “challenging” conditions in the capital markets, particularly in the leveraged finance market, and the time frame in which sale transactions could be completed led company directors to suspend the sales effort announced earlier this year. “We believe Triumph Learning and Recorded Books have leading positions in their respective market segments and represent attractive growth opportunities,” he said.
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