Media Source Inc., parent company of Library Journal, School Library Journal, Horn Book and Junior Literary Guild, has been acquired by a group of private equity firms led by RLJ Equity Partners, which was joined by 21st Century Group and New Canaan Funding Mezzanine.
In a prepared statement, Robert L. Johnson, founder of the RLJ Companies and chairman of RLJ Equity Partners, said, "We are pleased to own a company that is a trusted resource for librarians and school systems across the country and look forward to expanding in metropolitan markets domestically and internationally."
RLJ is the second new owner for LJ and SLJ within two years. The two trade publications were acquired by Media Source in early 2010 from Reed Business Information, former owner of PW.
RLJ, which says it invests primarily in deals worth $15 million to $30 million, also has in its portfolio CVC Tur Ltds., the largest tour operator in Latin America; Fleischmann’s Vinegar Company; Enhanced Recovery Company, a provider of Accounts Receivable Management and debt collection services; and LAI International, a manufacturer of precision engineered components.