An investment group led by JPMorgan Partners has entered into a definitive agreement to acquire business-to-business publisher Hanley Wood from private equity firm Veronis Suhler Stevenson.
JPMorgan Partners made the announcement last week.
New York-based JPMorgan Partners is a private equity affiliate of J.P. Morgan Chase & Co. The investment group acquiring Hanley Wood also includes Wasserstein & Co. as well as current and former management.
Washington, D.C.-based Hanley Wood serves the residential and commercial construction industries. It publishes 22 titles, including Builder and Remodeling, operates 17 Web sites and produces 15 industry events.
Once the transaction is completed, company founder Michael Wood will step down as CEO, but will remain a board member. Current president Frank Anton will become CEO of the organization.
The parties involved expect that the deal will represent the second largest BTB media transaction in the U.S.
Chantal Todé covers catalog and retail news and BTB marketing for DM News and DM News.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters