Wednesday, October 1, 2014
Advanstar Acquired For $972M By UBM
Santa Monica-based Advanstar Communications, a trade show and conference operator serving the fashion, licensing, life sciences, and power sports industries, has been acquired by UBM plc, in a deal worth $972M. According to Advanstar Communicaitons, the deal was funded by an investor group that includes Anchorage Capital Group LLC, Veronis Suhler Stevenson, as well as funds managed by the Tradable Credit Group at Ares Management L.P. Advanstar was advised by Goldman Sachs & Co. and Moelis & Company, along with Paul, Weiss, Rifkind, Wharton & Garrison LLP and Slaughter and May in the deal. UBM was advised by J.P. Morgan Cazenove, as well as Morgan, Lewis & Bockius LLP. UBM runs the well known Game Developers Conference.