New York, November 20, 2006 -- Avista Capital Partners, a private equity firm, has agreed to acquire the 50% interest it does not already own in Thompson Publishing Group ("TPG") from MidOcean Partners, a private investment firm.
Founded in 1972, Thompson Publishing Group is one of the foremost professional publishers of information on complex laws and regulatory mandates. With more than 350 publications and approximately 140,000 subscribers, Thompson serves professionals primarily in the human resource, healthcare and banking fields via subscription-based handbooks, newsletters, reference services, single-issue publications, and the internet.
James Finkelstein, the Chairman of TPG and an Industry Partner at Avista, said, "MidOcean has been a great partner to Thompson and Avista. Looking to the future, I am excited about the opportunities for internal growth and acquisitions available to a great business like Thompson."
OhSang Kwon, a Partner at Avista, added, "Our firm has had a long and successful relationship with Thompson through our industry partner and TPG's Chairman, Jimmy Finkelstein. We expect to further our successful investment by continuing to effectively leverage the company's platform strategy as well as our own deep domain expertise in the business to business publishing sector."
In July 2006, Avista acquired Credit Suisse's 50% interest in TPG. Avista and MidOcean managed the acquisition of American Health Consultants, the world's largest publisher of health care newsletters, in late August 2006.
The transaction is expected to close by year end.
Avista Capital Partners is a leading private equity firm with offices in New York, NY and Houston, TX. Founded in 2005, Avista's strategy is to make controlling or influential minority investments primarily in growth-oriented media, healthcare and energy companies. Through its team of seasoned investment professionals and industry experts, Avista seeks to partner with exceptional management teams to invest in and add value to well-positioned businesses. www.avistacap.com
About Thompson Publishing Group
Thompson Publishing Group, a Washington, D.C.-based information services provider, has been a leading source of analysis and guidance for business and government executives since 1972. Professionals rely on Thompson for help in tracking, and complying with, the dynamic regulatory mandates facing their organizations in a variety of areas including financials services; human resources; pensions and benefits; grants seeking and grants management; education, including Title I; FDA; environment and energy; and healthcare. More information can be found on their website: www.thompson.com.
About MidOcean Partners
MidOcean Partners is a premier private equity firm focused on the middle market. Based in New York and London, MidOcean is committed to investing in high-quality middle market companies with stable market positions and opportunities for growth. Targeted sectors include consumer and leisure, media, communications and entertainment, business and financial services and select industrial sectors. For more information, visit www.midoceanpartners.com.
Contact for Avista Capital Partners
Diana Postemsky, Kekst and Company, 212-521-4805