PE firm Wasserstein & Co. buys Recorded Books LLC
Recorded Books offers libraries eBooks through its OneClick Digital platform, as well as representing including Zinio’s digital magazine offerings
The private equity company Wasserstein & Co., LP has acquired Recorded Books LLC from Haights Cross Communications. Recorded Books offers audiobooks and other digital content to libraries and schools, and represents Zinio in its digital magazine newsstand sales to libraries, as well.
“We are excited to work with Wasserstein & Co., whose expertise in the stewardship of content-owning media businesses will enable us to expand our leadership position in the audiobook, eBook, and digital content markets,” Rich Freese, President and CEO of Recorded Books said in the announcement. “This strategic partnership provides us with the resources to further broaden our content offerings and services for customers, and accelerate our growth into additional global markets.”
Northwestern Mutual and Lexington Partners are investing in the acquisition with Wasserstein.