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Monotype acquires Hoefler&Co

typography.com

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Re: Monotype acquires Hoefler&Co

#2

Post by stuart78 »

Wow, that is the end of an era. In some ways it is sad to see a successful independent foundry get absorbed, but on the other hand, it sounds like he is ready for a break, and this sounds like a good outcome for those involved.

Re: Monotype acquires Hoefler&Co

#6

Post by cantrecall18169 »

spoonjim wrote: post #3

So Hoefler makes out like a bandit while Frere-Jones gets totally shafted. Business as usual.

Confused. Monotype is PE-owned. Buying companies on the cheap and selling is classic PE logic. Monotype annual revenues were less than 1/10th the acquisition cost. Hoefler&Co had 5 employees and gross revenue was just over 625. Even if they sold for 10 times revenue, that's only $6M for 32 years of work.

Purportedly: 1. Hoefler started the company in 1989. 2. After 10 years, in 1999, Frere-Jones joined—as an employee. No way someone puts in 10 years and makes someone else 50/50 unless they put up capital. 3. After 13 years, in 2002, Hoefler's wife became CEO. Likely that Hoefler and her were the largest shareholders. 4. After 16 years, in 2005, rebranded to include Frere-Jones. Pretty generous! 5. After 9 years rebranded and 15 years working together, in 2014, Frere-Jones sues Hoefler for $20M, claiming the fonts were worth $3M each. They settle after nine months. Frere-Jones immediately starts his own company. 6. After 32 years, in 2021, Hoefler sells and decides he wants to do something different.

How can you say he made out like a bandit? I would understand saying that if he started the company with Frere-Jones, sold for hundreds of millions in four years, and managed to keep all of it for himself.

Re: Monotype acquires Hoefler&Co

#8

Post by pupdroid »

bww wrote: post #5

Somewhat related: the saga between Hoefler and former partner Frere-Jones, who Hoefler almost certainly attempted to (and perhaps successfully) screwed over. https://www.fastcompany.com/3036423/type-stars-jonathan-hoef...

This story is almost seven years old. These guys settled their dispute and moved on. Frere Jones now has a very successful type company of his own. He's not exactly living in a van by the river

Re: Monotype acquires Hoefler&Co

#9

Post by jeremyw »

bww wrote: post #5

Somewhat related: the saga between Hoefler and former partner Frere-Jones, who Hoefler almost certainly attempted to (and perhaps successfully) screwed over. https://www.fastcompany.com/3036423/type-stars-jonathan-hoef...

What a sad affair. Interviews and documentaries clearly demonstrating their relationship as partners, without a hierarchy. Then one baldly asserts his ownership rights, and the other realizes the naive trust he'd put in his colleague was vapor.

Re: Monotype acquires Hoefler&Co

#10

Post by spoonjim »

cantrecall18169 wrote: post #6
spoonjim wrote: post #3

So Hoefler makes out like a bandit while Frere-Jones gets totally shafted. Business as usual.

Confused. Monotype is PE-owned. Buying companies on the cheap and selling is classic PE logic. Monotype annual revenues were less than 1/10th the acquisition cost. Hoefler&Co had 5 employees and gross revenue was just over 625. Even if they sold for 10 times revenue, that's only $6M for 32 years of work. Purportedly: 1. Hoefler started the company in 1989. 2. After 10 years, in 1999, Frere-Jones joined—as an employee…

Hoefler’s gross revenue was $625 thousand ? Sounds impossible. What’s your source?
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