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Apax funds to acquire majority interest in Advantage Sales & Marketing

Funds advised by Apax Partners have agreed to acquire a majority interest in Advantage Sales & Marketing, a North American sales and marketing agency, from J.W. Childs Associates and BAML Capital Partners (Merrill Lynch Global Private Equity). 

Terms of the transaction were not disclosed.

ASM, which provides outsourced sales, marketing and merchandising services to manufacturers, suppliers and producers of consumer packaged goods, has 2010 revenues of approximately USD1bn. 

Upon completion of the transaction, ASM’s senior leadership team will continue to manage the company’s day-to-day operations.

"ASM has established an impressive track record of generating value for its clients and customers through its operational excellence in both sales and marketing," says John Megrue, chief executive officer of Apax Partners US and co-head of the Apax retail and consumer team. "We look forward to partnering with the company’s outstanding management team led by Sonny King and Tanya Domier."

"I am very excited to embark on our new partnership with Apax Partners. Their global reach and large network of relationships will not only drive value for ASM but also create opportunities for further growth," says ASM chairman and chief executive Officer Sonny King. "Apax is an ideal partner for our company given their deep expertise in retail and consumer products."

The transaction, which is subject to customary approvals, is expected to close prior to the end of 2010.

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