KKR Acquires Thomson Reuters Print Unit, Forms Westbridge

KKR has finalized its acquisition of a controlling 51% interest in Thomson Reuters' Global Print division, a move that establishes the newly independent entity as Westbridge Print. This strategic carve-out, announced earlier this year, sees the private equity giant partnering with Thomson Reuters, which retains a significant 49% stake in the venture.

The transaction, valued at approximately $500 million in gross proceeds for Thomson Reuters, positions Westbridge Print as a standalone operator. Under the agreement, Thomson Reuters will continue to hold intellectual property rights and maintain editorial oversight of its content. In parallel, Westbridge Print secures an exclusive license to distribute this authoritative content across print formats and its ProView eBook platform, ensuring continued market reach for essential legal and tax resources.

This deal structure incorporates protective measures for KKR's investment. Provisions are in place for Thomson Reuters to offer financial backing under specific scenarios, designed to guarantee a minimum return on KKR's equity commitment. This dual approach aims to de-risk the investment while fostering growth for the newly independent print business.

Westbridge Print serves a critical role in delivering legal and tax information to a diverse clientele, including professionals, government bodies, academic institutions, and corporations across 13 nations. Beyond its core information services, the company also extends its expertise to commercial printing for book publishers, catering to a wide array of genres from academic texts to children's literature.

Brian Dillard, a partner at KKR and co-chief investment officer of Global Atlantic, lauded the business as the "gold standard for printed reference materials." He highlighted KKR's vision to empower Westbridge Print as an independent entity, simultaneously enabling Thomson Reuters to refine its strategic focus. This transaction aligns with broader industry trends where established media and information providers are divesting non-core assets to concentrate on digital transformation and AI-driven solutions.

For Thomson Reuters, this divestiture sharpens its strategic imperative to advance its artificial intelligence product offerings within the legal, tax, audit, and compliance sectors. The company emphasizes that its valuable printed content will continue to be accessible to its dedicated professional audience through the new arrangement. The print information services market, while facing digital disruption, still represents a substantial segment for established, authoritative content, particularly within specialized professional fields.