ProQuest announced Monday afternoon that an affiliate of Goldman Sachs will purchase “a significant minority equity interest” in the Ann Arbor-based company, including the stake held by private equity firm ABRY Partners. Goldman Sachs will join majority shareholder Cambridge Information Group as a partner.
"Our aim is to continue to strengthen ProQuest's industry position through organic growth, acquisitions and continuous innovation," said Kurt Sanford, CEO of ProQuest. "We are thrilled to have Goldman Sachs as an investor and we recognize their investment as affirmation of our strategy and future potential." Andy Snyder, CEO of CIG and chairman of ProQuest, added that with the support of Goldman Sachs, ProQuest, whose divisions include Bowker, will continue "to build the business and expand its role across the research ecosystem.”