Bertram Capital has sold Author Solutions to Pearson for $116 million. Author Solutions provides professional self-publishing services and has enabled 150,000 authors to publish, market and distribute more than 190,000 books in print and electronic formats. The company had been owned by Bertram Capital since 2007.
Since the beginning of 2005, private equity investors have exited 92 companies in the B2C media industry, according to the PitchBook Platform. Exit activity in the industry has been in a bit of a slump since 2008. 2011 marked a return to a double-digit yearly exit count—but only barely—with 10 completed exits. With six completed exits so far, 2012 is on track for a similar final count. Exits from Publishing companies like the Author Solutions sale have led the activity since 2005, representing a 36% share.
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