Chatham, Canada, April 01, 2017 --(PR.com
)-- MAGNUM Capital Partners ("MAGNUM"), a private investment firm led by Patricia Riopel and Enrico Magnani, has acquired online editing and proofreading company Scribendi Inc. ("Scribendi").
Founded in 1997, Scribendi offers document revision services to clients in all sectors, including business, academia, and publishing. Over the last 20 years, the company has cultivated a reputation as a leader in the editing industry, helping both native English speakers and those speaking English as a second language to communicate clearly and effectively, no matter their field, location, or level of proficiency.
This acquisition is a strategic entry for MAGNUM into a growing industry with worldwide growth potential. English is an official language in more than 70 countries, representing a population of 2.9 billion people; people need to be able to communicate with each other clearly and quickly, and as such, the market for document review and correction is robust.
Current president Chandra Clarke founded Scribendi to fill this need and, along with vice-president and husband Terence Johnson, has grown Scribendi into a network of more than 300 editors who have processed more than 444,000 orders. The company now welcomes another husband-and-wife team to the helm in Riopel and Magnani, who plan to pursue sustainable growth strategies that will extend the company's reach and influence in the industry.
"We are thrilled to have Enrico and Patricia on board," said Chandra Clarke. "They will bring fresh energy and enthusiasm to the company and will be able to continue Scribendi's track record of good management and consistent growth."
Along with a world-class board of directors who will provide strategic guidance and expertise, Riopel and Magnani bring diverse knowledge and experience to Scribendi. Riopel holds an MBA from IESE Business School in Barcelona and a Bachelor's degree in Commerce from McGill University in Montreal. Prior to co-founding MAGNUM, she worked with Développement International Desjardins, a subsidiary of the Desjardins Group, launching and operating financial institutions in tough business environments in Africa and Latin America. Magnani also holds an MBA from IESE Business School in Barcelona along with a Master's degree in physics. He has worked in a multitude of industries as a consultant at McKinsey & Company and has also collaborated with SMEs and startups in the tech and clean energy sectors.
"We are very excited to be joining the Scribendi team," said Patricia Riopel. "Chandra and Terry have built a great success story, and we look forward to continuing to promote Scribendi as a leading language services company worldwide."
Under Riopel and Magnani, Scribendi will continue to provide high-quality editing and proofreading services in order to help even more people communicate clearly and effectively in English.
For the transaction, MAGNUM was advised by Stikeman Elliott LLP, Ernst & Young, and Woods Oviatt Gilman LLP. Scribendi was advised by Harrison Pensa LLP and Collins Barrow.