Swets

Swets

Swets

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Royal Swets & Zeitlinger Holding NV (Koninklijke Swets & Zeitlinger Holding NV), operating under the trade name Swets,[1] was a group of information services companies operating worldwide as an intermediary between publishers and libraries.[2] Swets provided overall management and processing of subscriptions to scientific and professional printed and electronic publications for libraries.[3] The parent company of Royal Swets & Zeitlinger Holding was Swets & Zeitlinger Group BV, and its main trading subsidiary was Swets Information Services BV.[4] The Swets companies were progressively declared bankrupt between September and November 2014.[5]

Quick Facts Industry, Founded ...
Former office buildings of Swets in Lisse (The Netherlands)

Swets' 2013 annual report, released on 8 August 2014, included the following market update report: "2013 was a turbulent year for Swets. It has become clear that the intended transformation of Swets requires more capital and scale than is currently available. The ultimate shareholders of Swets Group in close the lenders have decided to put all shares of Royal Swets & Zeitlinger Holding N.V. up for sale and have initiated a competitive auction process with a planned sale in Q3 2014. The lenders support the plan and have decided to postpone the demand for repayment as long as the execution of the sales process develops according to the plan".[6][7] The market update further stated that as Swets had "failed to meet its covenant requirements related to the long term financing. As a consequence of this breach the lenders are entitled to demand immediate repayment." The problems were attributed to the move from print to digital publishing, which has lower commissions, and facilitates direct publisher–customer relationships in place of intermediaries.[7]

History

  • Founded by Adriaan Swets & Heinrich Zeitlinger in 1901
  • Swets bought out Zeitlinger after one year
  • Swets remained 100% owned by the Swets family until the mid-nineties
  • In 2003, Swets & Zeitlinger Publishers was sold to Taylor & Francis[8]
  • In 2007 Swets was sold to Gilde, a Dutch investment firm
  • In 2008/09 Swets opened offices in India, New Zealand, Finland, Austria & Switzerland, China
  • Also in 2008 Swets acquired Boekhandel E. Frencken BV
  • In 2010 started comprehensive e-book catalog and procurement options, supplying over 1 million e-books in 2011
  • In 2011 Swets acquired the publisher communication services company Accucoms
  • In 2014 Gilde put Swets up for sale.[9]
  • On 23 September 2014, Swets Information Services BV filed for and was granted bankruptcy.[10]
  • Between September and November 2014, Koninklijke Swets & Zeitlinger Holding and the other Swets companies were declared bankrupt.[5]
  • Private investment company Oak Point Partners acquired the remnant assets, consisting of any known and unknown assets that weren't previously administered, from the Swets Information Services, Inc. Bankruptcy Estate on January 9, 2018.[11]

Partnerships

Swets partner products and services were:

See also

References

  1. [1]
    "Annual Report" (PDF). Royal Swets & Zeitlinger Holding NV. 2012. Archived from the original (PDF) on February 26, 2014. Retrieved 21 February 2014.
  2. [2]
    "Bloomberg report on Swetswise". Archived from the original on January 18, 2013. Retrieved 2012-02-12.
  3. [3]
    "Digest of News". Managing information. 11 (1–10). Association for Information Management. 2004.
  4. [4]
    "First public bankruptcy report Swets Information Services B.V. et al" (PDF). CMS. 28 November 2014. Retrieved 15 January 2015.
  5. [5]
    Groenewegen, J.L.M. (18 December 2014). "Notice to the creditors of the bankrupt companies of the Swets and Zeitlinger Group". CMS. Retrieved 15 January 2015.
  6. [6]
    "Annual Report" (PDF). Royal Swets & Zeitlinger Holding NV. 2013. Archived from the original (PDF) on December 2, 2014. Retrieved 23 September 2014.
  7. [7]
    "Swets Information Services B.V. is declared bankrupt". Research Information. Europa Science. 24 September 2014. Retrieved 15 January 2015.
  8. [8]
    Royal Swets & Zeitlinger sells Swets & Zeitlinger Publishers
  9. [9]
    "Gilde Buyout Partners to sell Swets imminently". EducationInvestor. Investor Publishing. 12 September 2014. Retrieved 15 January 2015.
  10. [10]
    "Swets Information Services B.V. declared bankrupt". Association of Subscription Agents & Intermediaries. 24 September 2014. Retrieved 15 January 2015.
  11. [11]
    "Order For Motion of Chapter 7 Trustee Approving the Sale of Certain Assets of the Debtor's Estate to Oak Point Partners" (PDF), Bankruptcy Court for the District of New Jersey, January 9, 2018, retrieved January 9, 2018
  12. [12]
    "E-Select Licensed Partners". Retrieved 2012-02-16.
  13. [13]
    "Scholarly Stats Press Release" (PDF). Retrieved 2012-02-16.
  14. [14]
    "Mendeley Blog". Retrieved 2012-02-12.
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