From an RLJ News Release:
RLJ Equity Partners today announced it has acquired Media Source, Inc. (MSI), the parent company of three businesses that promote and sell children’s books and a variety of services and products geared toward the library industry, including book collection development, magazine subscriptions, book reviews, websites, webinars, and conferences. RLJ Equity Partners, LLC was joined by 21st Century Group, LLC and New Canaan Funding Mezzanine, LLC in the transaction.
We surveyed over 900 librarians and they absolutely love the book selections of JLG. In addition, almost all were subscribers to the Library Journal or School Library Journal,” said Daphne Dufresne, Managing Director of RLJ Equity Partners. “We are excited about partnering with MSI, a company with such dominant brands, a strong management team, and a proven track record in delivering quality products and services,” she concluded.
W. Kelvin Walker, a Partner at 21st Century Group, says: “We are excited about this investment and look forward to partnering with RLJ and the management team of Media Source. We expect that this partnership with RLJ and management, combined with several important initiatives, will be a catalyst for significant growth in the future.”
“We are delighted to join with RLJ Equity Partners and we are confident MSI will continue to thrive and expand our national presence in the library markets with RLJ management and expertise,” said Randy Asmo, CEO of Media Source, Inc.
Read the Complete News Release