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    Haynes Publishing acquires Clymer and Intermec Manuals

    Posted by AmSnow
    on Wednesday, September 18, 2013

    Haynes Publishing Group P.L.C., publisher of automotive and motorcycle repair manuals acquired Clymer and Intertec Manuals from Penton Business Media Inc. for $9.25 million.

    Clymer is located in Overland Park, Kansas in the United States.

    Founded by Floyd Clymer (1895-1970), Motorcycle Hall of Fame’s ‘pioneer in the sport of motorcycling’ Clymer publishes DIY repair manuals for motorcycle owners. It also publishes a range of DIY manuals for personal watercraft and snowmobiles; and, under the Intertec name, publishes manuals for farm equipment including Tractors, publishing 432 manuals across thousands of models in digital and print. For the financial year ended 31 December 2012, Clymer had net assets of $2.8 million, unaudited revenue of $4.3 million and unaudited pre-tax profitability of $1.0 million.

    Commenting on the acquisition, Eric Oakley, Group CEO of Haynes, said, “Clymer is a business that we have been interested in for some time and we are delighted that we are now bringing such an iconic name, particularly among motorcycle owners and DIYers, into the Haynes Group.”

    Nicola Allais, Senior VP of Penton commented that “Selling Clymer to a more natural owner is another step in Penton’s evolution as the Company continues to exit non-core print assets and focus on its Strategic Plan in events, digital, data and marketing services in its priority sectors.  We wish Haynes much success with the Clymer brand.”

    With almost 60% of the funding for the acquisition coming from internal cash, the Group remains financially well placed to continue its pursuit of other new opportunities as they arise.

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