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7/25/2006 Avista Capital Partners Invests in Thompson Publishing Holding

NEW YORK, July 25, PRNewswire -- Avista Capital Partners, a leading private equity firm, today announced it has acquired a 50% interest in Thompson Publishing Holding Co., Inc. from DLJ Growth Capital Partners, a Credit Suisse private equity fund, at an enterprise value of $130 million.

Founded in 1972, Thompson Publishing is one of the foremost professional publishers of information on complex laws and regulatory mandates. With more than 300 publications and approximately 110,000 subscribers, Thompson serves professionals in the human resource, education, government grants, and banking fields via subscription-based handbooks, newsletters, reference services, single-issue publications, and the internet.

OhSang Kwon, a partner of Avista Capital Partners, said, "With its exceptional brands, a recurring subscription based revenue model, and strong cash flow conversion, Thompson Publishing represents a proven consolidation platform in the business to business publishing sector. We believe this is a compelling investment opportunity because Thompson is integral to its subscribers' abilities to address and negotiate the constantly changing regulatory environment. James Finkelstein, our media partner at Avista, will continue to serve as Chairman of Thompson, as he has for the last two years."

Mr. Finkelstein added, "Thompson's ability to provide complex content on multi-channel platforms will continue to substantially enhance profitability in the next several years."

Phil Gabel, CEO of Thompson Publishing, added, "We are looking forward to working with our new partners at Avista, whom we know well through our Chairman, Mr. Finkelstein. Given Avista's core strength in publishing and the B2B media sector in particular, as well as Mr. Finkelstein's continued involvement, this transaction will enhance Thompson's strength in the market."

About Avista Capital Partners

Avista Capital Partners is a 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.

About Thompson Publishing Holding Co., Inc.

Thompson Publishing Holding Co., Inc., 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 human resources; pensions and benefits; grants seeking and grants management; education, including Title I; FDA; environment and energy; and health care. More information can be found on their website: www.thompson.com.

Media Contact

Diana Postemsky, Kekst and Company, 212-521-4805

Source PRN PR Newswire



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