Edge Performance VCT has backed the buyout of Working Partners and Beast Quest, both of which are creators of children's fiction, in a deal led by entrepreneurs Jeremy Banks and Tim Ricketts.
Working Partners and Beast Quest have created long-running series in children's fiction such as “Animal Ark”, “Heartland” and more recently, “Warriors”, which has sold over ten million copies in the US.
Last year both companies released new titles in around 30 countries and have had their books published in over 40 languages. Working Partners was founded in 1994 by Ben Baglio and Rod Ritchie. The company will continue to be run by managing director Chris Snowdon and operations director Charles Nettleton.
Jeremy Banks and Tim Ricketts were the founders of Coolabi, which specialises in managing intellectual property assets including “Poppy Cat”, “Purple Ronnie”, “The Worst Witch” and “Fungus The Bogeyman”.
The entrepreneurs will help the companies to increase their international presence, explore greater multimedia exploitation of their content, and grow Working Partners’ rights agency, Rights People, which licenses children’s book rights.
Ingenious Corporate Finance advised Working Partners and Beast Quest on the deal.