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.”