Co Wexford-based Prim-Ed Publishing has bought out global partner RIC Publications in a €15 million deal in a move that will see the company double its workforce over the next five years.

The New Ross headquartered company, which currently employs 46 people, writes and publishes books for primary schools. Established by Seamus McGuinness in 1994, the firm has produced more than 1,000 titles. 

RIC Publications, a partner of Prim-Ed since the mid-2000s, operates in Australia, New Zealand, South Africa and Malaysia. The buyout enables Prim-Ed to expand its operations across five continents with sales and licensing agreements in 22 countries.

The deal is supported by MML Growth Capital Partners – an Enterprise Ireland-backed fund – and AIB Corporate Banking. 

Prim-Ed said recruitment had already begun for staff in the company’s marketing, sales and finance departments based in New Ross. Further jobs will also be created in the UK where the group has doubled its sales over the past two years.

“This is a landmark move for what, is now, a truly international publishing company, which started out in the front room of my own home 22 years ago,” said Mr McGuinness.

http://www.irishtimes.com/business/co-wexford-based-prim-ed-buys-out-partner-in-15m-deal-1.2524028