SOURCE: Hanley Wood

August 01, 2005 17:03 ET

J.P. Morgan Partners Acquires Hanley Wood From Veronis Suhler Stevenson; Closing Represents Second Largest B-to-B Media Deal in U.S. History

NEW YORK, NY -- (MARKET WIRE) -- August 1, 2005 -- An investment group led by J.P. Morgan Partners (JPMP), a private equity affiliate of J.P. Morgan Chase & Co., today closed on its purchase of Hanley Wood, the leading business-to-business media company serving the residential and commercial construction industries, from Veronis Suhler Stevenson.

Terms of the deal make it the second largest business-to-business media acquisition in U.S. history (trailing only the sale of Advanstar in 2000). The investment group also includes Wasserstein & Co., plus current and former Hanley Wood management.

Hanley Wood founder Michael Wood steps down as CEO but remains a board member. Frank Anton, formerly president, becomes Hanley Wood's CEO and remains a board member. All of the company's divisional presidents continue in their roles.

"This acquisition marks a major milestone in the history of Hanley Wood," said Anton. "We've just embarked on a five-year strategic plan that calls for doubling our business both via acquisition and by continuing to aggressively grow our industry-leading media and marketing properties, trade shows and data services. J.P. Morgan understands media. They understand our business. And they wholeheartedly support our growth plans and our commitment to delivering quality products and new ideas to customers."

Hanley Wood, based in Washington, D.C., is one of the 10 largest business-to-business media companies in the United States, with five operating divisions:

--  Hanley Wood Magazines publishes more than 30 trade and consumer
    titles, including BUILDER and REMODELING
--  Hanley Wood Exhibitions (based in Dallas) produces 15 premier
    construction industry events, four of which are among North America's 200
    largest, including World of Concrete, a top 20 trade show
--  Hanley Wood Market Intelligence (based in Costa Mesa, Calif.), tracks
    residential real estate development and new-home construction activity in
    most of the top 20 housing markets, then sells that data and consulting
    services to construction industry customers
--  Hanley Wood e-Media operates a profitable portfolio of 17 business-to-
    business and consumer Web sites, including BUILDER ONLINE, REMODELING
    ONLINE, and EBUILD, a comprehensive online guide to building products
--  Hanley Wood Marketing (based in Minneapolis) offers a full range of
    marketing services and solutions to corporate clients in construction and
    other industries.
    

About Hanley Wood

Hanley Wood, LLC, founded in 1976, is the leading media company serving housing and construction. Through five operating divisions, the company produces award-winning magazines and Web sites, marquee trade shows and events, rich data and custom marketing solutions. The company also is North America's leading provider of home plans. For additional information, visit www.hanleywood.com.

About J.P. Morgan Partners

J.P. Morgan Partners, LLC (JPMP) is a leading private equity firm with over $11 billion in capital under management as of June 30, 2005. Since its inception in 1984, JPMP has invested over $15 billion worldwide in consumer, media, energy, industrial, financial services, healthcare, hardware and software companies. With more than 80 investment professionals in five principal offices throughout the world, JPMP is an experienced investor in companies with worldwide operations. Underpinning this platform is a global integrated network, which enables JPMP to draw on expert resources residing within JPMorgan Chase, its extensive portfolio and worldwide contact network.

Selected investments include: AMC Entertainment, Berry Plastics, Cabela's, National Waterworks, Pinnacle Foods, PQ Corporation, SafetyKleen Europe, Vetco International and Warner Chilcott.

JPMP is a private equity division of J.P. Morgan Chase & Co. (NYSE: JPM), one of the largest financial institutions in the United States, and is a registered investment adviser with the Securities and Exchange Commission.

About Wasserstein & Co.

Wasserstein & Co., LP is a leading independent private equity and investment firm, focused primarily on leveraged buyout investments, venture capital investments, and related investment activities. The firm owns numerous companies in the professional publishing industry, as well as many controlling investments in consumer products, business services and other industry sectors. Representative historical investments have included ALM Media, The Deal, Real Estate Media, Maybelline cosmetics, All-Clad cookware, IMAX and Sportcraft, among others.

Contact Information

  • Contacts:
    For Hanley Wood:
    Vince Giorgi
    612.904.7212
    Email Contact

    For JPMorgan Partners:
    Brooke Harlow
    212.270.7381
    Email Contact

    For Veronis Suhler Stevenson:
    Sam Hollander
    Stanton Crenshaw Communications
    212.780.1900
    Email Contact