March 20, 2018

ProQuest Sells Biz Solutions Unit

By LJ Staff

Following a competitive bidding process, ProQuest Company has sold its Business Solutions automotive division to Snap-on Incorporated for a reported $481 million, as Skip Prichard, president of the Information and Learning operation, predicted several months ago when word broke in March of the company’s restatement of its finances after internal accounting errors were discovered. Snap-on also assumes $19 million in debt. ProQuest told LJ that it will use "the proceeds of this transaction to repay debt, [which] improves the company’s overall financial situation."