Leading Edge Group in merger discussions with Armidale Investment Corporation

22 November 2012 Books+Publishing

The Leading Edge Group has told Bookseller+Publisher that it is ‘business as usual’ for the group following the announcement that it is in ‘preliminary merger discussions’ with Armidale Investment Corporation (AIK).

Leading Edge Group secretary David Mills said in a statement on 19 November that AIK is currently pursuing the merger with the Leading Edge Group and an announcement will be made about the outcome ‘once agreement is struck’.

Mills also announced a number of staff changes this week as a result of the merger discussions. Tony Middlebrook, who was appointed Leading Edge Group managing director in 2011 after AIK invested in the group, has stood down as managing director, and Andrew Grant and Raylee Carruthers are now responsible for managing the group’s buying operations and EMSquared. Chief financial officer Rick Van Brugge will leave the group in the next few months and will be replaced by Ravi Underwood, who has already begun working in the position. Geoff de Graaf will continue to oversee telecommunications and will also be responsible for Computer Care Australia, Tariff Expert and Beyond Digital Solutions.

‘The entire Leading Edge Group has been undergoing some significant change in the last six to twelve months,’ said Mills. ‘This change has been driven by shareholders and the board and the need to ensure the long-term prosperity of the group.’

‘The board of Leading Edge is confident that with various structural changes made within the group, Leading Edge will be financially successful for many years to come,’ said Mills. ‘It is important that refinements continue to be made across the group to increase revenue, manage costs, pursue new business opportunities and streamline processes.’

As previously reported by Bookseller+Publisher, the Leading Edge Group announced in October that the Leading Edge Books Group ‘will report into a newly created Entertainment Group’, which also includes music and video, following the departure of Leading Edge Books general manager Simon Milne in early November. Milne began in his new role of marketing communications director for HarperCollins Australia this month.

Leading Edge Books is currently recruiting for a program manager. Bookseller+Publisher understands that next year’s Leading Edge Books conference, usually held in March each year, may be held at a later date depending on when a program manager is hired.

Category: Local news