Investor Group Led by Veronis Suhler Stevenson to Acquire Advanstar for $1.15 Billion

DARLENE GUDEA, PUBLISHER & EDITOR
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New York and Woodland Hills, CA – Veronis Suhler Stevenson  today signed a definitive agreement to acquire Advanstar Communications, Inc. from DLJ Merchant Banking Partners III LP for $1.15 billion.  Advanstar is best known for MAGIC, its market-leading apparel shows. The company is active in four vertical segments:  fashion, licensing , automotive and life sciences, producing 47 trade shows and events;  60 print publications; and 95 electronic publications/ web sites. CEO Joe Loggia will stay with the company. He and other members of the senior management team will be significant shareholders in the company post-close. Citigroup Private Equity and New York Life Capital Partners joined VSS as co-sponsors in this investment.