Glasgow publishing division sold in €2.7m management buyout deal

PRIME Active Capital (PAC) has sold its Glasgow-based books and journals publishing division, Bell & Bain, in a management buyout deal valued at €2.74 million.

The Dublin-based PAC — which emerged as an investment vehicle from the restructuring of the Oakhill printing group two years ago — said the proceeds from the sale will go towards further investment in its portfolio as well as on new acquisitions.

Following completion of the disposal of Bell & Bain, PAC will have netted cash of around €4.25m and no debt.