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
Alta Communications is a leading private equity firm specializing in equity investments in media and communications companies. Through a series of Alta limited partnerships, as well as at Alta’s predecessor firm, Burr, Egan, Deleage & Co., the investment professionals at Alta have been one of the most active investment teams in the media and communications industries over the last two decades. Including its current $500 million fund, Alta IX, which the Alta professionals began investing in April 2003, Alta manages over $1.5 billion in capital and has invested in over 100 portfolio companies. For more information visit www.altacomm.com.
Founded in 1998, 101communications is an integrated business-to-business media company targeting the information technology community. Reaching more than 1.5 million IT professionals around the world, 101’s portfolio includes 9 publications, 44 conferences and events, and extensive digital offerings.
About Stevens Publishing
For over 80 years, Stevens Publishing has been providing information solutions within the publishing industry. Stevens currently publishes 8 magazines, 7 newsletters and multiple online offerings in the health and safety, industrial hygiene, ergonomic, environmental, waste and wastewater, healthcare, security, and home automation industries.