Biblica Completes Sale of Send The Light Distribution in MBO Transaction
Chicago, Illinois - P&M Corporate Finance, LLC ("PMCF") is pleased to announced that its client Biblica, Inc. ("Biblica" or the "Company") has sold its distribution division, Send The Light Distribution ("STLD"), to a group of the division's management team. Financial terms of the management buyout were not disclosed.
Based in Colorado Springs, Colorado, Biblica is a global Bible ministry serving more than 55 countries worldwide. When Biblica announced its plans to sell STLD, it hired PMCF to assist with a review of strategic alternatives for the division. PMCF worked closely with Biblica throughout the process, resulting in a highly successful and beneficial outcome for both sides of the transaction. "PMCF played a very important advisory role throughout the entire process and this transaction could not have been completed without their guidance and assistance," said Biblica CEO Doug Lockhart.
As a result of the transaction, Biblica is able to focus on its core ministry operations, while the new owners of STLD can focus on leveraging its strong foundation and growing the business while serving the needs of its retail partners and vendors. "We had been in discussions with multiple buyers for STLD since we decided to streamline our organization to really focus on our Bible Translation and Bible Engagement ministry efforts," said Doug Lockhart. "When the management team approached us with their interest to buy, we listened and are glad to have been able to work out this deal. We look forward to continuing to work with the STLD team as their customer and as a supplier. We wish the entire team great success as they move forward under this new ownership structure."
Celebrating more than 200 years in ministry, Biblica provides God's Word to people through Bible translation, Bible publishing and Bible engagement. Biblica's ministry extends worldwide with outreach in over 55 countries. Biblica has translated the Bible in more than 100 languages and is the translation sponsor and publisher of the New International Version® (NIV) Bible, the most widely read and trusted contemporary English translation.
About Send The Light Distribution
Based in Elizabethton, Tennessee, STLD is one of the nation's largest distributors of Christian products, serving more than 10,000 customers nationwide, offering next-day and two-day service to most of the United States. The division employs a total of 135 people between its 192,000-square-foot Tennessee warehouse and its west coast warehouse in Nevada. The company also has a Great Value Books division in Georgia that serves an international customer base.
About P&M Corporate Finance
P&M Corporate Finance, LLC is a middle market investment bank providing merger and acquisition advisory services to companies in North America, Europe and Asia. PMCF provides a broad range of services including sale advisory, acquisition advisory, capital raising, strategic advisory and fairness opinions. The firm has dedicated industry teams providing services to the business services, medical technology, industrials and plastics and packaging industries. PMCF has offices in Chicago, Illinois and Detroit, Michigan and internationally through Corporate Finance International affiliates.