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Progressive Business Publications continues expansion with acquisition of Oakstone Legal & Business Publishing. (Mergers & Acquisitions).

With its sale of Oakstone Legal & Business Publishing to Progressive Business Publications, Haights Cross Communications has completed its divestiture of all of its publications that are not part of its focus on professional education.

This spring Haights Cross--Peter Quandt, chairman--sold West its Andrews Publications division of litigation newsletters, special reports and online services (NL/NL 4/15/03).

Oakstone Medical Publishing and Oakstone Wellness Publishing remain with Haights Cross. Joanne E. Fiore, president of Oakstone Legal & Business, has retired.

This latest transaction expands Progressive Business Publicatons into the vast public and private educational sectors and broadens its coverage for human resource managers.

PBP currently produces 28 subscription newsletters and other publications for a wide variety of disciplines including finance, government compliance, sales and marketing, human resources, medical, information technology, and non-profits.

Oakstone L&B publishes 26 specialized publications and a variety of reports on key legal issues, "bringing a better understanding to educational institutions and businesses of their legal rights and responsibilities to help them avoid costly mistakes and ensure compliance with the law," said Ed Satell, president of PBP.

"This acquisiton brings PBP into two new markets--education and legal," Satell said, "and expands the quality and breadth of services we currently provide."

Tom Schubert, CFO of PBP, said, "Oakstone products and services fit our profile. In addition, they utilized a sales model similar to our own. This will allow us to leverage our existing expertise." Most of Oakstone L&B operations will merge into PBP's and the majority of its editorial team will be maintained.

Haights Cross was represented in the transaction by the M&A advisory firm of White-stone Communications.

PBP, 370 Technology Drive, Malvern, PA 19355, 610-695-8600, fax 610-651-2921, www.pbp.com Haights Cross, 10 New King St., White Plains, NY 10604, 914-289-9400, fax 914-289-9401, wwwhaightscross.com
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Publication:The Newsletter on Newsletters
Geographic Code:1USA
Date:Jun 15, 2003
Words:300
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