Standard Publishing sale: new ownership and leadership announced
Standard Publishing sale news prompted a range of responses from readers, from prayers to congratulations. This update shares details of the acquisition by The Wicks Group and introduces Matthew Thibeau as CEO.
- Readers responded with prayers, congratulations, and encouragement after the announcement.
- The Wicks Group acquired the Standard Publishing business unit from Standex International Corporation.
- Matthew Thibeau joins as CEO, emphasizing faith-based publishing and future growth.
A note to readers
By Mark A. Taylor
Since the news release reprinted below was distributed in our weekly e newsletter July 7, readers and friends have offered a variety of reactions.
“We’re praying for you!” many have said.
“Congratulations!” others have offered.
“If you need someone to yell at, give me a call,” one wrote.
We’re preparing this issue of CHRISTIAN STANDARD just a week after the sale was announced. And I assure you, there’s been no need for yelling so far!
The congratulations are in order, however. We believe our new owners and our new president will bring new energy and perspective to our ministry.
And we need your prayers. This is only the second change of ownership in Standard Publishing’s 140 year history. We’re looking forward to seeing how God will work through this transition for his glory in the months and years ahead.
News release: acquisition details
The Wicks Group of Companies, LLC, a New York based private equity firm, announced July 6 that it has acquired the Standard Publishing business unit of Standex International Corporation. The company will be known as Standard Publishing Group LLC. Terms of the transaction were not disclosed.
Matthew Thibeau joins as CEO of the company. He has more than 20 years of experience in educational publishing, including senior management positions at World Book, Inc., Macmillan/McGraw Hill, and Harcourt, Inc., where he was president of Harcourt Religion Publishers.
“There’s something special about faith based publishing,” he told Standard employees after praying for God’s guidance for the future of the company. “I’m here because I love publishing, and my faith is incredibly important to me. This is the intersection of the personal and professional in my life.” He told employees their challenge was to work together to discover how to bring the good news of Jesus to a larger world.
In a prepared release, Thibeau said, “We will continue to produce the highest quality products for our customers in church markets while also developing new titles and products for additional areas we believe are poised for growth. We are truly excited by this opportunity.”
Daniel Kortick, managing partner of the Wicks Group, said, “We believe there are positive growth trends in the niches in which Standard publishes, and we could not be more pleased with the foundation on which we plan to build.”
The Wicks Group of Companies, LLC (www.wicksgroup.com), manages private equity funds that invest in selected segments of the communications, information, and media industries. Such funds currently own or have owned companies in educational publishing, consumer publishing, medical information services, community newspapers, radio broadcasting, television broadcasting, magazine publishing, outdoor advertising, newsletter publishing, and cable television distribution.
Author: Mark A. Taylor
Mark A. Taylor, who served as Christian Standard editor from 2003 to 2017, retired in June 2017 after almost 41 years with Standard Publishing (Christian Standard Media).
