Acquisition of Advanstar Completed by Investment Group Led by VSS

HIL ANDERSON, SENIOR EDITOR
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New York, NY – The $1.142 billion acquisition of Advanstar Communications by an investment group led by Veronis Suhler Stevenson was finalized on May 31. This is nearly  two months to the day  VSS signed a definitive agreement to acquire Advanstar from DLJ Merchant Banking Partners. [Read more at  Trade Show Executive, The Vault, March 29, at http://www.tradeshowexecutive.com/TheVault_main.asp?id=396]

“Advanstar has recently refined its organization and market position and is now a highly focused media company serving three distinct verticals — fashion, life sciences  and powersports—each with its own launch and acquisition strategy,” said Chris Russell, VSS managing director.  “We see tremendous growth opportunities in these sectors over the next year,” said  Eric Van Ert, a managing director at VSS.

Following a “buy-and-build” investment approach, VSS acquires platform companies with a strong market position in vertical sectors, and then aggressively builds them —organically and through acquisitions.

The acquisition of Advanstar is a new platform investment for VSS.  The transaction was financed with funds drawn from VSS IV, and several co-investors joined in the investment.  Many of Advanstar’s senior executives remain significant shareholders in the company.

“The resources and expertise provided by VSS and their investment co-sponsors will be valuable assets as we continue to execute our strategy and capitalize on future growth opportunities,” said Joe Loggia, who will continue to lead the company.

Advanstar produces 91 events and has a portfolio of 66 publications and directories as well as 150 electronic publications and Web sites.

Reach Joe Loggia at (818) 593-5000 or jloggia@advanstar.com