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Clymer and Intertec Manuals Acquired by Haynes Publishing
The publisher of Haynes Manuals has acquired the assets of Clymer and Intertec Manuals from Penton Business Media, putting two of the most popular motorcycle repair service manual brands in the same company. The acquisition is valued at $9.25 million including both cash and the assumption of debt.
The deal includes Clymer’s library of powersports manuals and Intertec’s I&T tractor and farm machine manuals. Altogether, Clymer and Intertec published 432 manuals covering thousands of models for both print and digital media. The Haynes Publishing Group is already a giant in the motorcycle and automotive repair manual business, and the deal further strengthens that position while also bringing the company into the marine, snowmobile and tractor markets.
In addition to increased revenues from Clymer manuals (estimated at $4.3 million in 2012), the acquisition will help improve efficiency for printing costs, warehousing and distribution and editorial production.
“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,” says Eric Oakley, chief executive officer of Haynes Publishing Group P.L.C. ” We see many synergies between our two businesses, in terms of products and values, and we see real opportunities for revitalization and growth.”
Clymer was founded by AMA Motorcycle Hall of Famer Floyd Clymer, a successful racer in the 1910s and 1920s. Clymer later entered the motorcycle magazine publishing business. Today, Clymer is the global market leader in the motorcycle DIY repair manual business.
[Source: Haynes Publishing Group]