Advanstar Holdings acquired by private equity firm

By Lisa Kerner

Charlotte, N.C., May 31 - An investor group led by Veronis Suhler Stevenson completed its acquisition of Advanstar Holdings Corp., the holding company for Advanstar Communications Inc., in a $1.142 billion deal first announced on March 29.

"We are extremely pleased to have successfully completed this transaction," Advanstar's chief executive officer Joe Loggia said in a company news release.

"Advanstar's acquisition by VSS reflects the success of our strategy and the quality of our industry leading products. We thank Credit Suisse and Avista Capital for their past support as we developed Advanstar into a leader in the business media industry. The resources and expertise provided by VSS and their investment co-sponsors will be valuable assets as we continue to execute our strategy."

Advanstar Communications is a media company based in New York.

Veronis Suhler Stevenson is a private equity firm that invests buyout and structured capital funds in the media, communications, information and education industries.

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