Prim-Ed to double workforce after €15 million deal
Published 10/02/2016 | 01:00
NEW Ross based Prim-Ed Publishing has bought out its 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.
Recruitment has already begun for staff in the company’s marketing, sales and finance departments.
The New Ross headquartered company, which currently employs 46 people (27 of whom are based in New Ross), writes and publishes books for primary schools. Established by Wexford man 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.
Mr McGuinness said: ‘We will be operating out of five different continents and the main focus of employment will be here. This is a process which will happen over the next few years. We have grown in a very controlled way and we have developed really good practices and policies. We will be building the teams here in New Ross. These things move very quickly and we have some exciting new developments over the coming years.’
The deal is supported by MML Growth Capital Partners - an Enterprise Ireland-backed fund - and AIB Corporate Banking.
Further jobs will also be created in the UK where the group has doubled its sales over the past two years.
Mr McGuinness said: ‘This is a landmark move for what, is now, a truly international publishing company. The company started out in the front room of my own home 22 years ago.’
Prim-Ed Publishing provides tailored resources with its curriculum-focused resources, workbooks, eBooks and teacher aids.
Synchronising its activities at a global level will be key to the success of this venture. Senior management staff from the Irish operation are already in the Australian company’s office in Western Australia, working with teams there.
All global marketing and financial activity will be centralised in New Ross, which will remain the company’s global headquarters and centre of best practice, Mr McGuinness said. Prim-Ed Publishing has been working closely with RIC Publications since the mid 2000s. ‘We have built up an incredible team at Prim-Ed Publishing and we’ve been very proud and fortunate to work with amazing teachers in Ireland, the UK and elsewhere to tailor our resources to the specific needs of very diverse classrooms, environments and curricula right across the globe.’
Prim-Ed Publishing is the number one provider of resources across each area of the primary school curriculum.