• EQT V to buy 82% and GIC to buy 18% of Springer Science+Business
Media, the world’s second-largest scientific, technical and medical
publisher, and a leader in the digitization of scientific information
• Company Management expected to re-invest
EQT V, a leading European private equity fund, and GIC Special
Investments (“GICSI”), the private equity arm of the Government of
Singapore Investment Corporation (“GIC”), announce that they have agreed
to acquire 100% of Springer Science+Business Media (“Springer“), from
its current owners, private equity investors, Candover and Cinven. EQT V
intends to buy 82% and GICSI to buy 18% of Springer, the world’s
second-largest scientific, technical and medical (“STM”) publisher, and
a leader in the digitization of scientific information. The transaction
remains subject to customary conditions, including regulatory approvals.
It is expected to close by late January/early February 2010, and will
result in the full repayment of all existing debt facilities.
“Springer is perfectly positioned in a market where we see great growth
potential. We believe that by working together with the company and the
best-in-class management team under CEO Derk Haank we can drive both
expansion and further development of the successful e-business” says
Marcus Brennecke, Senior Partner at EQT Partners, advisor to EQT V. “As
the number 2 player in the STM sector, Springer is a great platform for
further consolidation and market share growth“ Marcus Brennecke added.