Advantage Business Media
For Immediate Release
Former Cygnus Publishing President Reiff Starts New Media Company
New York, NY - July 5, 2006: Former Cygnus Publishing President Richard Reiff, who guided that company to become one of the nation's largest and most profitable business-to-business publishers, has acquired the RNP Division of Reed Business Information. Under Reiff's direction, Cygnus Business Media's publishing division grew to reach more than three million business influentials annually with more than 80% of his titles holding the number 1 or 2 position in their respective markets.
In the new company, Advantage Business Media, located in Rockaway, New Jersey, Mr. Reiff is joined by George Fox formerly with both Reed and Cygnus. Mr. Reiff and Mr. Fox have partnered with New York City-based Catalyst Investors who, along with management, provided all the equity capital for the transaction and formed Advantage.
"We are extremely excited about our new venture," says Mr. Reiff. "Coming with the business are more than 200 employees, most of whom have been with the company for many years bringing stability as we convert this business from a division of a large company to a stand-alone company." "Combining the long legacy of these brands with a strong entrepreneurial spirit, builds the kind of excitement that's contagious internally and externally," says Mr. Fox. "This team has done an extraordinary job repositioning this portfolio for future growth in both print and online media."
Advantage Business Media consists of a diversified portfolio of important brands serving more than 1.3 million professionals responsible for driving today's emerging technologies in Science, Electronics, Communications, and Manufacturing. Included in the purchase are former Chilton and Gordon Publishing titles including Broadband-Today.com, Bioscience Technology, CED, Chem.Info, Drug Discovery & Development, ECN, EITD (Electronic Industry Telephone Directory), Food Manufacturing, G&P (Genomics & Proteomics) , Industrial Maintenance & Plant Operation, Laboratory Equipment, Manufacturing.net, Medical Design Technology, Pharmaceutical Processing, Product Design & Development, Production Technology News, R&D, ReedLink (an online search vehicle to be re-branded), Scientific Computing, Surgical Products, Wireless Design & Development, and Wireless Week.
"We are excited about the future of Advantage Business Media with Rich and George at the helm," said Catalyst Investors' General Partner Ryan McNally. "Advantage Business Media is a platform company on which we will grow business-to-business publishing, as well as online-based media, and the acquisition of Reed New Products is a terrific place to start" said McNally. "Reed got the company off to a very good start in online with e-media, webinars, and online search, and we intend to continue fostering that investment. That said, we have two of the best business print guys in the industry and we intend to be acquisitive."
Debt financing for the transaction was provided by NewStar Financial and Daniels & Associates assisted in arranging for that financing.
About Catalyst Investors
Catalyst Investors http://www.catalystinvestors.com is a private equity fund to companies in the media, communications, and related Internet services industries. Catalyst focuses on growth areas within the middle market, investing $5 to $30 million alongside management teams to fund expansion, acquisitions, or recapitalizations. As it has in this case, Catalyst will form companies around talented managers in proven areas where opportunity exists. In addition to capital, Catalyst brings extensive industry experience and a broad network of relationships to each investment. The investment team complements its own knowledge with that of a select group of prominent industry operating partners, as well as with its investment banking partner, Daniels & Associates, a Denver-based investment bank with more than 24 bankers and a 45-year history of success in Catalyst's target industries.
Contacts:
Richard Reiff, CEO
608-469-0216
George Fox, President
847-226-8556
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