Jist Publishing, which publishes books about careers from its headquarters near Fort Benjamin Harrison, has been sold to EMC/Paradigm Publishing of St. Paul, Minn., for an undisclosed price.
Jist founder and owner Michael Farr said he hired a brokerage in April to find a buyer because it was the right time to do other things with his life. “You know, we’re mortal,” said Farr, who is in remission after a bought with lymphoma in 2001. “I’m going to goof around for awhile.”
EMC Chief Financial Officer Jim Afdahl said he would not comment until the acquisition is officially announced, possibly this weekend. EMC is owned by the New York private equity firm Wicks Group of Companies LLC.
Farr said he had many chances to sell the company, but waited for an offer that would be good for his 50 workers.
EMC appears to want to leave many Jist operations in Indianapolis, Farr said. EMC, which is several times larger than Jist, specializes in publishing high school and college textbooks. Its marketing resources will generate more muscle to drive sales of Jist Publishing’s career books, he said.