FOR IMMEDIATE RELEASE
Catalyst Investors Backs Former Cygnus Publishing President to form Advantage Business Media
New York, NY, July 5, 2006 - - Catalyst Investors is pleased to announce that it is backing former Cygnus Publishing President Richard Reiff in the acquisition of the RNP Division of Reed Business Information to form Advantage Business Media. This will be Catalyst’s second investment from its recently formed Catalyst Investors II, LP. From 1986 to 2006 Reiff guided Cygnus to become one of the nation’s largest and most profitable business-to-business publishers and under his direction, Cygnus Business Media’s publishing division grew to reach more than three million business influentials annually with more than 80% of its titles holding the number 1 or 2 position in their respective markets.
George Fox, formerly with both Reed and Cygnus, will be joining Mr. Reiff at the newly formed Advantage Business Media as President.
“We could not have chosen better partners than Catalyst,” said Mr. Reiff. “They truly understand the business and we share a vision for growth.”
Advantage Business Media consists of a diversified portfolio of important brands serving over 1.3 million professionals responsible for driving today's emerging technologies in Science, Electronics, Communications and Manufacturing. Included in the purchase are former Chilton and Gordon Publishing titles including Bioscience Technology, CED, Chem.info, Drug Discovery & Development, ECN, EITD (Electronic Industry Telephone Directory), Food Manufacturing, Genomics & Proteomics , Industrial Maintenance & Plant Operation, Laboratory Equipment, Manufacturing.net, Medical Design Technology, Pharmaceutical Processing, Product Design & Development, Production Technology News, Research & Development, ReedLink (an online search vehicle to be re-branded), Scientific Computing, Surgical Products, Wireless Week, and Wireless Design & Development.
“We are excited about the future of Advantage Business Media with Rich and George at the helm,” said Ryan McNally, General Partner at Catalyst Investors. “Advantage Business Media is a platform company on which we will grow business-to-business publishing as well as online based media, and the acquisition of Reed New Products is a terrific place to start” said McNally. “Reed got the company off to a very good start in online with e-media, webinars and online search, and we intend to continue fostering that investment. That said, we have two of the best B2B print guys in the industry and we intend to be acquisitive.”
Debt financing for the transaction was provided by NewStar Financial and Daniels & Associates assisted in arranging for that financing.
About Catalyst Investors
Based in New York City, Catalyst Investors is a private equity fund that provides equity capital to companies in the media, communications and related Internet services industries. It focuses on growth areas within the middle market, investing $5 to $30 million alongside management teams to fund expansion, acquisitions or recapitalizations. In addition to capital, Catalyst brings extensive industry experience and a broad network of relationships that includes a select group of prominent industry operating partners. For more information, please visit www.catalyst investors.com.
Contact:
D. Ryan McNally
(212) 863-4848
ryan@catalystinvestors.com
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