New York, NY — Two months after JPMP announced a definitive agreement to acquire Hanley Wood, HW officially changed hands on August 1st in the second largest B2B media acquisition in U.S. history. It eclipses only the sale of Advanstar in 2000. An investment group led by J.P. Morgan Partners (JPMP), purchased Hanley Wood from Veronis Suhler Stevenson. The JPMP group, a private equity affiliate of J.P. Morgan Chase & Co., includes Wasserstein & Co., as well as current and former Hanley Wood management.
Hanley Wood founder Michael Wood steps down as CEO but remains a board member. Frank Anton, previously President, is now the CEO. All divisional presidents continue in their roles including Galen Poss, President of the HW Exhibitions.
Anton notes that the move marks a major milestone for the company, which serves the residential and commercial construction industries. “We’ve just embarked on a five-year strategic plan that calls for doubling our business both via acquisition and by continuing to aggressively grow our industry-leading media and marketing properties, trade shows and data services,” he says.
Hanley Wood, LLC, founded in 1976, is one of the ten largest b-to-b media companies in the United States, with five operating divisions. The
Hanley Wood Exhibitions division, based in Irving, TX, produces 15 construction industry events, including World of Concrete.