Associés MAGNUM Capital Partners Announces the Sale of Scribendi Inc. to Edanz, a Subsidiary of M3
April 5th, 2023
Chatham, ON - Associés MAGNUM Capital Partners (“MAGNUM”), led by Patricia Riopel and Enrico Magnani, announces the sale of portfolio company Scribendi Inc. (“Scribendi”) to Edanz Inc. (“Edanz”), a company headquartered in Japan that specializes in academic publishing support services.
The buyout represents a successful exit for MAGNUM after a six-year holding period, in which Scribendi enjoyed double-digit growth, earning the company a spot in the Growth 500 list of fastest-growing companies in Canada for many consecutive years.
Enrico Magnani, who took on the role of CEO at Scribendi, says, "I am thrilled to see Scribendi continue its journey with such strong partners. This partnership with Edanz will enable Scribendi to expand its reach into new client segments, enhance the customer experience, and continue to drive innovation in the industry. This is a natural step for Scribendi's growth."
Patricia Riopel, who took on the role of President at Scribendi, adds, "This is an awesome success story. I am proud of the value we’ve created at Scribendi for employees, clients, editors, the Southwestern Ontario community, and for investors. It is now time for Enrico and me to continue our work with MAGNUM and support lower mid-market owner operators and young entrepreneurs in building successful and growing businesses."
Berkery, Noyes & Co. LLC provided transaction advisory services to MAGNUM, while Stikeman Elliott LLP and Woods, Oviatt, Gilman LLP served as legal advisors.
About MAGNUM:
Associés Magnum Capital Partners is a private investment firm founded in 2015 and led by entrepreneurs Patricia Riopel and Enrico Magnani. The firm has a track record of identifying, acquiring, and operating profitable businesses with potential for growth.
For more information about the work of Patricia and Enrico, please visit https://magnumcp.com.
About Scribendi:
Scribendi Inc. is an ISO 9001:2015-certified online editing and proofreading company dedicated to helping people reach their goals through the written word. With over 400 editors and hundreds of thousands of clients around the world, the company has a global reach. Scribendi is known for offering the fastest professional editing service in the industry and for being the first company to develop and implement AI technology to aid editors by boosting the efficiency and consistency of their work. In 2022, Scribendi acquired CINDEX, the leading software for professional back-of-the-book indexing.
For more information about professional editing and proofreading services, please visit https://www.scribendi.com. For more information about CINDEX and the technologies developed by Scribendi, please visit https://www.scribendi.ai.
For more information about M3, Edanz, and the transaction, please see: https://www.scribendi.com/news/edanz_acquires_scribendi.en.html.