Bloomsbury Publishing has completed its purchase of Osprey Publishing, the U.K.-based publisher of military and natural history books, from the private equity fund, Third Alcuin Fund LP. Bloomsbury paid 4.6 million pounds for Osprey in a combination of 3.2 million pounds in cash plus Bloomsbury stock.
Osprey published 212 titles last year and generated revenue of 7 million pounds. Bloomsbury said it expects that the purchase will add 1 million pounds to its overall sales for the fiscal year ending February 28, 2015. Almost half of Osprey’s revenues come from outside the U.K. with most derived from the U.S. Osprey will become part of Bloomsbury's Special Interest Publishing, a part of its adult division.
"The acquisition of Osprey increases our presence in niche special interest markets," said Nigel Newton, Bloomsbury chief executive. "It is complementary to, and will substantially enhance, our existing lists; in particular increasing the division's expertise in natural history and military history publishing, as well as international sales."