The strategy of Legal, Tax & Business Europe - with sales running to about EUR 1.3 billion in 2000 - is aimed at profitable organic sales growth and further operational excellence. In order to take full advantage of the cluster's opportunities and growth potential, LTB Europe is seeking to expand the following six customer segments: legal; fiscal/financial, human resources, public & government administration; health, safety & environment (HSE) and transport. The non-core activities are to be optimized or sold.
Bohn Stafleu Van Loghum is a multi-media publisher for professionals active in the health sector, including general practitioners, specialists, dentists, paramedical staff, nurses and doctors as well as mental welfare and social workers. Alongside traditional products such as books, magazines and newsletters, its product range also comprises oral information transfer (courses, workshops), electronic products (diskettes, CD-ROMs, CD-Is), on-line databases and internet services. Well-known publications of BSL include 'Nederlands tijdschrift voor Geneeskunde', 'Verpleegkundenieuws' and 'Maandblad voor de Geestelijke Volksgezondheid'. The company has important contacts with leading industry and professional associations in the Dutch healthcare sector, such as Nederlands Huisartsen Genootschap, College voor Zorgverzekeringen en Trimbos Instituut.
'A few months ago we presented our growth strategy for Europe and we are now in the midst of putting flesh on that strategy,' says Jean-Marc Detailleur, member of the Executive Board of Wolters Kluwer and responsible for Legal, Tax & Business Europe. 'In the UK, for instance, we recently acquired ABG Professional Information, the commercial publishing arm of the Institute of Chartered Accountants in England and Wales, which is Europe's largest accounting institute. The acquisition of ABG, with sales of EUR 22 million, has made us a leading player in the UK financial and fiscal information market.'
'But the implementation of our growth plans also sometimes compels us to bid farewell to non-core activities, often healthy businesses with high-quality products. The sale of Bohn Stafleu Van Loghum is a case in point: this publisher has a robust market position in the Netherlands with excellent products and services.'
The process of selling BSL has been started up: the first phase is focused on gathering the necessary information for potential buyers and presenting this in the information memorandum.
ten Hagen & Stam
The announced sale of ten Hagen & Stam, a Dutch publisher of trade journals in construction, industry and ICT, is going according to plan. After Wolters Kluwer unveiled its plans to sell this publisher (annual sales of about EUR 100 million in 2000), various interested parties immediately came forward. The process of compiling the information memorandum is now in the rounding-off stages.
In the case of the sale of Bohn Stafleu Van Loghum and ten Hagen & Stam, the book profit, as is customary, will be accounted for under 'results on divestments' and will not be included in the ordinary net profit before amortization of intangibles.