Bradford-based MCB University Press has been bought for £55 million by its own management team.
This is the second management buyout in three years for the company, which was bought out in 1995 for £40 million. The buyout has been made by Dr Barrie Pettman and Dr Keith Howard, who are already directors of the company.
The pair bought out the third major shareholder, The Alberta Trust Company, which is based on the island of Vanuatu in the South Pacific.
MCB University Press is a specialist publisher of academic and professional management journals whose turnover last year was £18.3 million.
The company, based in Toller Lane, employs a total of 150 people.
Dr Pettman said the buyout was "an exciting opportunity for everyone concerned.
"MCB is well-established in the marketplace but still has tremendous capacity for growth. We are looking to developing this potential into the new millennium."
Bradford solicitors Gordons Wright and Wright were advisers to the management team and were assisted by other companies in Leeds.
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