Overland Park, KS—In a move to better define its core business, PBI Media Holdings Inc. changed its name to Prism Business Media Inc. The change comes on the heels of PBI’s purchase of Primedia Business Information last fall for $385 million from Primedia Inc., New York.
The newly named company produces 25 events, 70 publications, 100 web sites and other products. It is focused on the B2B market, serving industries ranging from Agriculture to Health Services, and from Marketing to Waste & Recycling. WasteExpo is the company’s largest show. The May 2005 event, held in Las Vegas, featured 445 exhibitors and drew over 7,800 buyers.
“Our new name, Prism, represents our business of gathering information and dispersing it,” said Margaret Pederson, president of exhibitions. “On the exhibit side, it links buyers and sellers,” she said.
In a related move to strengthen its transportation portfolio, Prism purchased Ward’s Automotive properties from Primedia Inc. The purchase includes Ward’s Auto Interiors Show and Conference as well as industry publications.
The Ward’s portfolio was not part of Primedia’s original sale to PBI Media Holdings. Ward’s properties and staff will continue to operate from their Southfield, MI offices.
“It’s great to have them back and continue our relationship with them,” Pederson said.
U.S. Equity Partners II, an investment fund sponsored by Wasserstein & Co. LP and by co-investors Highfields Capital Management and Lexington Partners, owns Prism Business Media.