We are pleased to tell you that Connect Group and AURELIUS have agreed a revised deal and AURELIUS Equity Opportunities completed the acquisition of Connect Books last night, Wednesday 14th February 2018.
This follows on from the announcement in October that Connect Group was selling the books division as it seeks to focus its strategy on its specialist logistics business, and the various announcements concerning the sale over the last few months.
Connect Group and AURELIUS were able to agree mutually beneficial terms and we are pleased that we have found a suitable partner to support us in the future of our business.
AURELIUS sees significant potential for Connect Books, which from today will be known as Bertram Group; this is made up of the component businesses Dawson Books, Bertram Books, Bertram Library Services, Wordery.com, Erasmus and Houtschild and each will continue to operate as they have done in their relevant channels and markets.
In the coming months AURELIUS’s operational taskforce experts will support us in managing the exit from Connect Group and minimising the distraction from our day-to-day business. AURELIUS will also work with us to implement our strategy to drive efficiencies and accelerate growth across the business.
AURELIUS has acquired the Connect Books group as part of a long term strategy and is committed to strengthening the current business.
Dirk Markus, CEO of AURELIUS, commented:“Despite some challenges, we are very pleased to have completed a deal that is mutually beneficial to all parties. Connect Books is an exciting business and one for which Aurelius’ specialism is very well suited. We look forward to working with the company to provide the financial and operational support that will allow the business to reach its full potential.”
Justin Adams, Managing Director of Connect Books, commented: “I am pleased that Connect Group and Aurelius have been able to agree and complete a revised deal. I am confident that we will benefit from the financial and operational capabilities that Aurelius bring and that they will help us on our journey to build the best one stop shop for content and support us in the ongoing shift towards becoming a more customer-centric, agile solutions provider for our customers and suppliers.”
We would like to thank you for your support over the last few months and we look forward to continuing to strengthen our relationship in the future.