Advanstar Holdings Corp., the holding company for Advanstar Communications Inc., a media company providing integrated marketing solutions, including the Indianapolis Dealer Expo, for the powersports industry, among others, will be acquired through an investor group led by Veronis Suhler Stevenson, a private equity and structured capital fund management company.
VSS will acquire all of the outstanding stock of Advanstar Holdings Corp. for approximately $1.142 billion in cash. VSS is joined in this investment with co-sponsors in the transaction, including Citigroup Private Equity and New York Life Capital Partners.
Advanstar’s primary shareholder, DLJ Merchant Banking, have approved the transaction. Senior members of Advanstar’s management team will have equity interests in the acquiring entity at the closing of the transaction. The transaction is expected to close in the second quarter of 2007.