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Monday, December 19, 2005

Highbury House On The Ropes 

Interesting piece on the travails of UK publisher Highbury House, from The Independent.

Grab: Now, Highbury House is teetering on the brink of collapse, and its survival as a going concern depends on the banks' continuing goodwill.

Highbury House sold off its b2b publishing assets in April for 9.9 million pounds (to Ergo Sciences Corporation), and sold a number of other assets, in an attempt to save the business. Doesn't look like it's working.

But there's an interesting little story in that sale. Ergo Science Corporation, according to this article,

was a biopharmaceutical company developing a treatment for metabolic disorders. In November 2003, Ergo sold all of its scientific and research assets and certain other intellectual property assets.... Since that sale, Ergo has been seeking one or more established businesses to acquire using its approximately $26.4 million in cash and cash equivalents. This acquisition is Ergo's first business since selling its scientific and research assets in November 2003.

Note: Mini-history of Highbury House's acquisitions and dispositions here.

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