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Apax Partners weighs up $500m exit for ALM Media

2 Apr 2014

UK-headquartered buyout firm Apax Partners is said to be considering an exit for legal and commercial real estate publishing house ALM Media.

A potential sale could see the New York-based company go for over $500m, Reuters reported.

Apax, which paid $630m for the company back in August 2007, has tasked investment bank Jefferies to explore potential sale opportunities.

The initial deal was made via the firm’s acquisition vehicle Apax Summer, which also owned business information provider Incisive Media.

In 2009, incisive was spilt in two with Apax retaining control of ALM, while lenders took over the troubled UK division, which had previously breached its banking covenants.

The company has EBITDA of approximately $55m, the report said.

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UK-headquartered buyout firm Apax Partners is said to be considering an exit for legal and commercial real estate publishing house ALM Media.

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