Funds advised by Apax Partners announce the sale of ALM Media to Wasserstein & Co., LP
4 June 2014
New York, NY and London Funds advised by private equity firm Apax Partners ("Apax Funds") today announced the sale of their stake in ALM Media (“ALM” or the “Company”), a leading provider of specialized business news and information for the legal and commercial real estate markets, to private equity fund Wasserstein Partners III (“Wasserstein”). Ontario Pension Board (OPB), Pantheon, the Honeywell pension and HighVista Strategies LLC are co-investing in the transaction alongside Wasserstein.
Headquartered in New York City, ALM is a leading provider of specialized business news, research and information, focused primarily on the legal and commercial real estate sectors. The Company has nearly 700 employees across 16 offices worldwide. ALM’s portfolio of over 350 print and digital publications – which include The New York Law Journal, The American Lawyer, Corporate Counsel, Law.com, and The National Law Journal – have won more than 150 major industry awards, and their digital platform receives more than 6.5 million page views per month.
Commercial terms of the proposed transaction are confidential. The transaction is subject to customary closing conditions and regulatory approvals, and is expected to close in the third quarter of 2014.
Jefferies LLC acted as financial advisor to the Company and the Apax Funds. Simpson Thacher & Bartlett LLP served as legal advisor to the Company and the Apax Funds.
About Apax Partners
Apax Partners is one of the world's leading private equity investment groups. It operates globally and has more than 30 years of investing experience. Apax Partners has advised funds that total over $40 billion around the world in aggregate. Funds advised by Apax invest in companies across four global sectors of Consumer, Healthcare, Services and Tech & Telco. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit www.apax.com.
ALM is a global leader in specialized business news and information. Trusted reporting delivered through innovative technology is the hallmark of ALM’s award-winning media properties, which include Law.com (www.law.com), The American Lawyer, Corporate Counsel, The National Law Journal and The New York Law Journal. Headquartered in New York City with 16 offices worldwide, ALM brands have been serving their markets since 1843.
ALM, The American Lawyer, Corporate Counsel, GlobeSt.com, Insight Conferences, Law.com, Law Journal Press, Law Technology News, LegalTech, The National Law Journal and Real Estate Forum are trademarks or registered trademarks of ALM Media Properties. For more information, please visit www.alm.com.
About Wasserstein & Co.
Wasserstein & Co. is a leading independent private equity and investment firm, focused primarily on leveraged buyout investments and related investment activities. Wasserstein & Co. manages capital on behalf of institutional and individual investors. The firm is focused on investments primarily in the media and communications, consumer products and water equipment and services industries. Wasserstein & Co. has offices in New York and Los Angeles. For more information, please visit www.wasserco.com.
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