The process of the sale caused some uncertainty, which was exacerbated by being carried out in the public domain and press speculation. In reality what played out was a simple negotiation, with Aurelius (the buyer) trying to get the best price. Consequently their shrewd approach means more available funds to invest in our business.
Aurelius is not your typical Private Equity company; they do not have a defined timeline for their ownership. Rather they wish to ingrain themselves within our operation, alongside the current management team, to fully understand how we work, looking for opportunities for investment, process improvements and customer service enhancements.
Aurelius hold onto the businesses they own for as long as they need to, or as long as it takes, to make the improvements they target. And they are a significant size of business with a capitalisation of 3 or 4 times the size of Connect Group and a very strong portfolio.
We’re excited about working with Aurelius and the future of Dawson Books, we hope you are too.