December 1999
Whitestone Communications client Haights Cross Communications acquired Recorded Books, Inc., in December 1999 in the largest transaction to date for Whitestone.Whitestone has now completed transactions totaling more than $150 million in deal value.Founded in 1994, Whitestone is a quality investment banking firm that specializes in representing buyers and sellers in all areas of publishing, information, and training.
Haights Cross Communications is a rapidly growing publisher serving education and professional markets with annualized revenues of more than $150 million. Haights Cross businesses include supplemental publishers Newbridge Publishing and Educational Design; academic library publisher Chelsea House; and professional publishers Oakstone and Coriolis. Educational Design and Chelsea House were acquired at the same time as Recorded Books.
Recorded Books, Inc., is the leading publisher of full-length, unabridged books on audiocassette. Founded more than 20 years ago, Recorded Books has been widely recognized for the quality of its recordings which include best seller, biography, business, mystery, history, classic, inspirational and general fiction and nonficiton titles. The company generates revenues through the sale of its product to public and school libraries and the rental of product to consumers.
