Veronis Suhler Stevenson (VSS) has joined forces with Citigroup Private Equity and New York Life Capital Partners to acquire B2B publisher Advanstar Communications for USD1.1 billion.  Advanstar runs 87 trade shows and events, publishes 58 publications and directories, 125 electronic publications and web sites.  It focuses on fashion, licensing, life sciences and automotive verticals.   It is the objective of the acquirers to Grow Premier Worldwide Business Media Platform Through New Products, Services and Acquisitions.  Advanstar 2006 revenues were US$ 324 million – valued at 3.5 time revenue or 12.15 times EBITDA compared to 12.6 times VNU received for Valcon. Source: Press Release

BIIA Newsletter April – 2007 Issue