Osprey Group has completed a "major" refinancing to fund expansion. The publisher, which targets enthusiasts in specialist areas such as military history, heritage and antiques, has obtained £4m from London-based private equity firm Alcuin. The majority of the injected capital will be devoted to further acquisitions.
Osprey m.d. Rebecca Smart said the refinancing followed an expansionary period that involved the acquisition of history publisher Shire Books in 2007, science fiction house Angry Robot in 2011 and Old House Books & Maps in 2011.
Osprey on lookout for new buys after refinancing: "
Meanwhile former Borders c.e.o. David Roche is working on a project to enhance reading as he launches his own business. David Roche Enterprises has been set up to "help exploit the links between the creative, media and retailing environments in the publishing, entertainment and arts fields".
He said he plans to do consultancy work, advisory board involvement and non-executive directorshops. As well as running Borders, Roche was group sales and marketing director at HarperCollins between 2008 and 2011 and was product director at Waterstone's.
At Waterstone's HMV Group shareholders have overwhelmingly approved the sale of Waterstone's to Alexander Mamut, clearing the way for the bookseller to become independent.
The transaction is expected to be formally completed on 28th June. James Daunt will now be installed as managing director and is expected to take up his new position on 2nd July.