2006back to list
NAUTIC PARTNERS LEADS ACQUISITION OF 101COMMUNICATIONS, LLC AND STEVENS PUBLISHING
Investment is Nautic's Third Platform Acquisition in 2006
Providence, RI — April 11, 2006
Nautic Partners, LLC, a private equity firm with more than $1.8 billion of capital under management, today announced that it has led the acquisition of 101communications, LLC and Stevens Publishing through an investment in 1105 Media Holdings, LLC, a new entity formed to acquire and operate companies in the business-to-business information industry. Terms of the two acquisitions were not disclosed and senior debt financing was provided by Merrill Lynch Capital.
Nautic’s investment in 1105 Media was made in partnership with its management and Alta Communications, and represents Nautic’s third completed transaction in 2006. 1105 Media will be led by industry veteran and former Reed Elsevier and Petersen Publishing executive Neal Vitale.
Headquartered in Chatsworth, California, 101communications is an integrated business-to-business media company with a focus on specialized and well-defined niches within the information technology community. Its properties range across diverse formats including trade magazines and journals, e-newsletters, websites, conferences and seminars, and subscription based services.
Stevens Publishing, headquartered in Dallas, Texas, produces business-to-business magazines, newsletters, and a host of related digital offerings and websites. These publications serve the markets of occupational health, safety and compliance, security, environmental protection, water/wastewater control, and home healthcare.
"Both 101 and Stevens are market leaders and, when combined, make an excellent platform across several niche industry categories," said Michael Joe, Managing Director of Nautic. "This transaction is also a good example of Nautic’s continued strategy to join with experienced teams capable of driving growth and value in targeted industry verticals. We have known Neal Vitale and Alta Communications for several years and are excited to partner with them in 1105 Media.”
"We are pleased to have the support of our financial sponsors as we implement our growth strategy,” said Neal Vitale, CEO of 1105 Media. “We believe that 101 and Stevens represent very attractive opportunities, and we are looking forward to working with their management teams to build the businesses both organically and through additional acquisitions.”
The investment in 1105 Media is Nautic Partners’ third platform investment in 2006: in February, Nautic announced the acquisition of Oasis Outsourcing, LLC, one of the largest professional employer organizations in the U.S.; and in April, Nautic announced the acquisition of Curtis Industries Holdings, LLC, the leading manufacturer of cabs and enclosures for utility vehicles, compact tractors, and golf carts.
About Alta Communications
About Stevens Publishing