LONDON - The European private equity firm BC Partners agreed on Wednesday to buy the academic publishing company Springer Science & Business Media for 3.3. billion euros ($4.4 billion).
BC Partners is buying Springer Science, based in Berlin, from the rival private equity firm EQT Partners and the Government of Singapore Investment Corporation.
Springer Science had been contemplating an initial public offering as late as last week, though Europe’s financial markets have remained jittery because of the ongoing financial crisis.
The German academic publisher produces around 8,000 books each year on topics ranging from science and medicine to transport and business. The company reported revenue of 981 million euros last year and employs around 7,000 people, according to a company statement.
BC Partners said it planned to expand Springer Science’s market share in thse core business areas, and that both EQT Partners and the Government of Singapore Investment Corporation would remain minority shareholders in the company.
Credit Suisse, Nomura, Jefferies and the law firm Freshfields Bruckhaus Deringer advised BC Partners on the deal.
