This just in from Haynes:
Haynes Publishing Group P.L.C.
Acquisition of Clymer and Intertec Manuals
Haynes Publishing Group P.L.C. ("Haynes"), the worldwide market leader in the production and
sale of auto
motive and motorcycle repair manuals, is pleased to announce that it has acquired the
assets of Clymer and Intertec Manuals ("Clymer") from Penton Business Media Inc. ("Penton")
for $9.25 million (£5.85 million)
to be satisfied by
located in Overland
Park, Kansas in the United States.
Founded by Floyd Clymer (1895
1970), Motorcycle Hall of Fame's ?pioneer in the sport of
Clymer is the global market leader in sales of DIY repair manual
owners. It also h
as a significant share of the DIY Marine (Inboard and Outboard) Manuals
market; publishes a range of DIY manuals for personal watercraft and snowmobiles; and, under
the Intertech name, publishes manuals for farm equipment including Tractors, publishing 432
manuals across thousands of
models in digital and print. For the financial year ended
December 2012, Clymer had
assets of $2.8 million (£
1.8 million), unaudited revenue
million (£2.7million) and unaudited
profitability of $1.0 milli
Complementing its existing successful manuals business, this acquisition will further strengthen
Haynes' position in the Motorcycle Aftermarket
making it the undisputed market leader
the world , adding additional content to the
Haynes Group, whilst also bringing access into the
new markets of marine, snowmobile and
The acquisition will
be earnings enhancing and
also release significant efficiencies in the areas of
print cost, warehousing and distribution, and editoria
with additional digital
offerings representing further opportunities for growth.
Commenting on the acquisition, Eric Oakley, Group CEO of Haynes, said "Clymer is a business
that we have been interested in for some time and we are delighted
that we are now bringing
such an iconic name, particularly among motorcycle owners and DIYers, into the Haynes Group.
We see many synergies between our two businesses, in terms of products and values, and we see
real opportunities for revitalisation and g
Nicola Allais, Senior VP of Penton commented that "Selling Clymer to a more natural owner is
another step in Penton's evolution as the Company continues to exit non-core print assets and
focus on its Strategic Plan in events, digital, data and mar
keting services in its priority sectors.
We wish Haynes much success with the Clymer brand."
With almost 60% of the funding for the acquisition coming from internal cash, the Group
remains financially well placed to continue its pursuit of other new oppo
rtunities as they arise.