PW: Taylor Publishing Acquired By Investment Group

Insilco Holding Co. has signed a definitive agreement to sell its Taylor Publishing Co. subsidiary to the investment group Castle Harlan Partners III for $93.5 million. The deal is expected to close before the end of the first quarter.

Based in Dallas, Taylor is best known for its school yearbook operations, which generated approximately 88% of Taylor's $101 million in sales in 1998. It also has a small trade book division that publishes about 35 titles annually in a mix of trade paperbacks and hardcovers. The trade unit's largest areas are sports and gardening; the company has also seen strong growth in its newer categories of history and health, according to publicity director Anita Edson. Among its recent releases are Stonewall Jackson: A Life Portrait, 1978: When Baseball Was Still Baseball and Midwest Landscape Design.

David Kauer, Insilco president, said the company decided to divest Taylor because it did not fit with its strategy to focus on its core operations in the heat exchanger and technology businesses. Taylor had accounted for about 20% of Insilco's annual revenues. No major changes are expected following completion of the sale.