Wasserstein & Co, via its private equity fund Wasserstein Partners III, is to acquire ALM Media from funds advised by Apax Partners and RBS.
Ontario Pension Board (OPB), Pantheon, the Honeywell pension, and HighVista Strategies are co-investing in the transaction alongside Wasserstein.
Headquartered in New York City, ALM is an integrated media company and a provider of specialised 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.
Bill Carter, president and CEO of ALM, says: “Over the recent years, we have embarked on an aggressive transformation of the company into a bold digital media organisation serving the legal and real estate industries. We are thrilled to be partnering with the Wasserstein team, whose unmatched media and publishing experience in the business-to-business industry will be a valuable resource for ALM. By working closely with them, we will further capitalise on our proprietary data and current product portfolio, drive growth, enhance our digital platform and broaden the distribution of our leading products and services.”
Anup Bagaria, co-managing partner of Wasserstein & Co, says: “ALM's publications and digital products are the best in the industry. They are the market leaders, and invaluable to US legal professionals. We are excited about the opportunity to work with ALM again to grow its remarkable print and digital products and trade shows."
