NEW YORK– LAWFUEL – The Legal Newswire –Wasserstein & Co., LP today announced the signing of a definitive agreement for the sale of ALM, a leading media company serving legal and business professionals, to Incisive Media, headquartered in London, for $630 million. The transaction is expected to close in the 3rd quarter of 2007. ALM was formed in 1997 by U.S. Equity Partners, L.P., a private equity fund sponsored by Wasserstein & Co., LP.
“Since its formation, ALM has established a ten-year track record of success. We congratulate Bill Pollak and his senior management team on all they have achieved over the past decade, and we wish them, the company and its new owners the best of luck in the future,” said Anup Bagaria, vice chairman of Wasserstein & Co.
Headquartered in New York City, ALM is a leading integrated media company, focused on the legal and business communities. ALM currently owns and publishes 33 national and regional magazines and newspapers, including The American Lawyer®, Corporate Counsel®, The National Law Journal® and Real Estate Forum®. The company is one of North America’s largest producers of conferences and trade shows for business leaders and the legal profession. ALM’s Law.com® is the Web’s leading legal news and information network, while ALM’s GlobeSt.com® is the Web’s leading information source for commercial real estate professionals. Other ALM businesses include book and newsletter publishing, court verdict and settlement reporting, production of professional educational seminars, market research and content distribution. More information on ALM’s businesses and services is available on the Web at www.alm.com.
Credit Suisse served as the exclusive financial advisor to Wasserstein & Co. for this transaction. Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to Wasserstein & Co.
About Wasserstein & Co., LP
Wasserstein & Co., LP is a leading independent private equity and investment firm, focused primarily on leveraged buyout investments and related investment activities. The Firm manages capital on behalf of its institutional and individual investors, including public and corporate pension funds, foreign governmental entities, endowments and foundations, and high net worth individuals. The Firm historically has made investments in media, consumer products and other industry sectors. Representative investments include Harry & David, Mastercraft, Hanley Wood, Penton Media, Sportcraft, The Deal and New York Magazine.