Avista Procures Half of Thompson
Avista Capital Partners, a private equity business, has obtained a 50% interest in Washington’s Thompson Publishing Group from a Credit Suisse equity fund, DLJ Growth Capital Partners, for an estimated $130 million. Avista Capital Partners, a New York-based firm, focuses its investments on healthcare, media, and energy-driven businesses.
An Avista Capital Partners associate, OhSang Kwong, stated that the company saw Thompson as a compelling investment opportunity since it helps subscribers to focus and deal with the ever-changing “regulatory environment”. The partial acquisition will allow Thompson to come up with multi-channel platforms that will significantly contribute to the firm’s chances of increasing profitability in the coming years.
The Thompson Group started its operations in 1972. It functions as a producer of 300 subscription newsletters, instruction manuals, single-issue periodicals, reference services, and web-based resources about the laws and regulatory mandates for specialists in fields like education, government grants, banking, and human resources.
Some of the newsletter assets have titles like “Total Reward Strategies, Special Ed Advisor,” “Executive Compensation Strategies,” “Local/State Funding Report” and “NCLB advisor.” These contain reports and handbooks on topics such as FDA enforcement, health care, flex plans, clean air, employee benefits compliance, sexual harassment, pension plans, monitoring federal sub-awards and others. Thompson has about 110,000 subscribers.
Source: http://www.thefreelibrary.com/Avista+Capital+Partners+acquires+50%25+of+Thompson+Publishing+Group-a0150583573
