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Haynes Publishing goes up for sale as it approaches 60th anniversary

The group is famous for its car manuals and other engineering how-to books

Haynes Publishing Group Plc -
Haynes has substantial cash in the bank and an attractive dividend yield record

Haynes Publishing Group Plc (LON:HYNS) has put itself up for sale a year after the death of founder and inspiration John Haynes and as it approaches its sixtieth anniversary.

The group which is famous for its car manuals and other engineering how-to books has appointed Europa Partners to find a buyer though it added it is not in talks with anyone yet.

Eddie Bell, executive chairman, said that having broadened out from manuals into content, data and workflow solutions for the motor industry it needs to be part of a larger group with deeper pockets.

"Our founder, John Haynes died this year; one year before the company's 60th anniversary in 2020. 

“The board now believes our future will be best secured by the whole group becoming part of an organisation with the financial resources to invest for future expansion and take the company through to the next 60 years of success."

Haynes has increasing revenues, a strong profit performance, substantial cash in the bank and an attractive dividend yield record, Bell added.

Quick facts: Haynes Publishing Group Plc

Price: 414 GBX

LSE:HYNS
Market: LSE
Market Cap: £62.61 m
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