London – London-based Incisive Media signed a definitive agreement to acquire ALM, a producer of trade shows for the U.S. legal and real estate communities, from U.S. Equity Partners, L.P. for $630 million.
Incisive said the deal was expected to close in the Third Quarter. It comes just five months after the firm acquired VNU Business Publications Ltd., the U.K. operation of VNU, which serves the business finance and technology sector.
William Pollak will remain as president and CEO of ALM and will join the Incisive Media board.
“ALM’s senior management team, led by Bill Pollak, has worked together closely for nearly 10 years in building it to its current strong position,” said Incisive Media Group Chief Executive Tim Weller. “We look forward to working closely with the management team as we grow our combined business in the U.S., and support ALM as it extends its business in Europe and Asia.”
ALM owns 33 publications read by lawyers and real estate professionals, including The American Lawyer, The National Law Journal and Real Estate Forum. Its events division consists of five series totaling 275 conferences and trade shows catering to audiences in the legal, business, medical and real estate sectors. Incisive Media added six IT events to its portfolio when it acquired VNU Business Publications.
ALM was formed in 1997 by U.S. Equity Partners, L.P., a private equity fund sponsored by New York equity, and investment firm Wasserstein & Co. Wasserstein is a principal in the deal that combined Penton Media, Inc. and Prism Business Media Holdings, Inc.
Reach Tim Weller at +44 (0) 20 7484 9700 or Tim.Weller@incisivemedia.com
