KKR has completed its acquisition of a majority stake in Thomson Reuters' Global Print business, which now operates as an independent company called Westbridge Print. The terms were set out when the deal was announced in July. Thomson Reuters expected to receive about $500m in gross proceeds at closing. It also keeps the intellectual property rights and full editorial control over its content, while Westbridge Print holds an exclusive licence to distribute that content in print and through Pro View, the business’s e Book platform. The structure includes downside protection for KKR.
Westbridge Print supplies legal and tax information to professionals, governments, law schools, and corporations in 13 countries. It also offers commercial printing services to book publishers in sectors ranging from trade and academic publishing to children’s books. KKR partner Brian Dillard, co-chief investment officer of Global Atlantic, called the business “the gold standard for printed reference materials”. He said KKR saw an opportunity to support it as a standalone company while helping Thomson Reuters streamline its portfolio.
Thomson Reuters says the sale will sharpen its focus on AI products for the legal, tax, audit, and compliance industries, while its printed content will continue to reach the professionals who rely on it.
Source: PE Insights · Summarized by HeadlinesBriefing