Taylor & Francis buys Marcel Dekker, Inc. & Swets & Zeitlinger Publishers.

In one of two separate deals, Taylor & Francis (London) has acquired the publishing assets of STM publisher Marcel Dekker, Inc. (New York) from family-owned Dekker Group for $122 million in cash, a loan note of $1.6 million and a further estimated contingent cash payment of $15 million.

Established in 1963, Marcel Dekker is a publisher of Journals, references, textbooks and encyclopedias in science, engineering and medicine, with a special focus on emerging fields such as surface science, chromatography and electroanalytical chemistry. The company publishes 78 journals, such as Animal Biotechnology, Drug & Chemical Toxicology and International Journal of Food Properties, and around 200 new books each year with a backlist of 3000 titles.

For the year ending Dec, 31, 2002, Dekker had sales of $42 million, an operating profit of $5.1 million and profit before taxes of $3.2 million. Journals accounted for $24.9 million of the company's revenue with books accounting for $17.1 million.

Taylor & Francis ceo David Smith said the purchase reinforces his company's position in the North American academic books and journals market. "This is a good opportunity to expand our presence in the largest segment of the global STM publishing market."

Also, Taylor & Francis has purchased the assets of STM publisher Swets & Zeitlinger Publishers (SZP) and A.A. Balkema from Swets & Zeitlinger Holdings (Lisse, The Neth.) for 11.5 million [pounds sterling] in cash.

For the year ending Dec. 31, 2002, SZP has sales of 4.4 million [pounds sterling] of which 62% came from journal sales and 38% from book sales. Founded in 1916 with the publication of English Studies journal, SZP publishes English-language journals and books in the areas of engineering, ophthalmology, life sciences and social sciences. The acquired assets include 41 journals and 100 new books each year with a backlist of around 2000 book titles.

Taylor & Francis said the acquired publications "have good growth potential" and that the acquisition is "expected to be earnings enhancing in the first full year of ownership."

The company said that both purchases are consistent with its strategy of expansion through "a combination of well-planned organic development and selected earnings enhancing acquisitions that strengthen the portfolio, widen the customer base and internationalize the business."