In February 2010, Advent International announced the closure of a purchase of shares in Wydawnictwa Szkolne i Pedagogiczne (WSiP).
WSiP is the largest Polish educational publisher offering a complete range of textbooks, supplementary books and multimedia for all types of schools and all school levels. Established in 1945, the company has been listed on the Warsaw Stock Exchnage since November 3rd 2004. The company’s management team partnered with Advent to delist the business.
The business publishes several hundred book and multimedia titles each year with a strong franchise in the K-6 market with a 40% + market share, focusing on exercise and work books which cannot be resold in the secondary market. Its position in the 6-12 market is improving, which has a heavy emphasis on Sciences, German, English language and Maths where WSiP has a strong market share. Additionally, the company has a growing e-learning and online presence.
WSiP is well positioned to continue to be a leading player in its market. Maintaining this leadership position, will, however, require the company to invest in new products and take an active part in market consolidation. Advent can fully support the company in the current market environment and help it to realise its growth strategy.