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Leonard Green, CVC lead race to buy $4bn-valued AS&M from Apax

17 Jun 2014

Advanced Sales & MarketingBuyout houses Leonard Green & Partners and CVC Capital are reportedly in advanced talks to buy Apax PartnersAdvantage Sales & Marketing for more than $4bn.

The pair have already seen off other buyout interest in the consumer marketing company according to Reuters, which cited people familiar with the matter.

Apax bought AS&M from peer JW Childs Associates and Bank of America Merrill Lynch’s private equity unit in 2010, in a deal thought to be valued at about $1.8bn.

AltAssets reported in April that Apax had hired Bank of America Merrill Lynch to run an auction for AS&M.

The company provides outsourced sales, marketing and merchandise services to manufacturers, suppliers and producers of consumer packaged goods in the US.

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