Apax Partners

PCM Uitgevers N.V. is the largest publisher of national newspapers, the largest publisher of general (fiction and non-fiction) books and the third-largest regional newspaper and educational publisher in the Netherlands.

The Company grew out of the Dutch World-War II resistance movement and PCM’s original newspaper title, ‘Het Parool’ was a resistance paper founded by the Jewish community in Amsterdam at that time. Over the years the Company has been successfully acquisitive. Funds advised by Apax Partners acquired a 47.5% shareholding in the company in June 2004. The remaining shareholders are three Dutch foundations - Stichting Democratie & Media (“SDM”), Stichting de Volkskrant and Stichting ter Bevordering van de Christelijke Pers in Nederland.

The PCM business now comprises the following major divisions:
- Volkskrant - The leading quality morning broadsheet in the Netherlands
- NRC Handlesblad – The leading evening broadsheet
- Trouw – Quality morning broadsheet
- Algemeene Media Groep - Leading group of regional papers in the Randstad reagion of the Netherlands
- Trade Publishing - Leading Dutch-language publisher of fiction and non-fiction
- Professional Publishing - Leading Dutch-language publisher of books and materials for medical professionals
- Educational Publishing - Publisher of textbooks for schools and vocational and professional training

Apax Partners’ Funds invested in PCM because the company owns a high-quality portfolio of media brands, occupying leading market positions in all its areas of business. Apax Partners’ Funds’ investment was made at the bottom of the advertising market cycle, and the Company is well-positioned to benefit from an anticipated recovery in the Dutch economy and resulting increase in advertising spend over the coming years.

In addition Apax believes that PCM faces further attractive growth opportunities, both via the organic launch of new products complementary to its existing portfolio, and via acquisitions of further Dutch-language media properties.

Since making its investment, Apax Partners appointed Cor Brakel, ex-CEO of Wolters Kluwer, to the PCM Supervisory Board and has supported the appointment of a new Chief Financial Officer Bert Groenewegen. The Company has also initiated a joint venture with Wegener, another leading Dutch newspaper publisher, to combine both companies’ regional newspaper titles to create a major new newspaper with a particular strength in the Randstad region of the Netherlands.