NEW YORK (September 13, 2002)- New York media merchant bank Veronis Suhler Stevenson has represented Randall Publishing in the sale of Automotive Industries, to Diesel & Gas Turbine Publications Inc. for an undisclosed sum.
Automotive Industries, based at Randall's Tuscaloosa, Ala. headquarters and moving to Diesel & Gas Publications' Southfield, Mich. office, is one of the oldest trade magazines covering the automotive industry. Automotive Industries was founded in 1895 as The Horseless Age, and covered the transition from horse-drawn carriages to internal combustion powered vehicles, and has kept its current namesake since 1917.
Randall Publishing decided to put the publication up for sale at the end of 2001, as part of a major divestiture of publications that did not fit the company's core assets of trucking and heavy duty construction trade publications. The sale is not related to the passing of Randall's founder, Pettus Randall, who died of cancer on Sept. 7.
Managing Director Joel Novak led the transaction for VSS along with associate Seth Rosenfield.
Veronis Suhler Stevenson, a leading independent merchant bank dedicated to the media, communications, and information industries, was founded in 1980. Since its formation, the firm has acted as a financial advisor across the full spectrum of media-industry segments including Broadcast and Cable Television; Entertainment; Newspaper Publishing; Consumer Magazines; Business-Information Services; Consumer, Professional and Educational Books; Business-to-Business Communications; Specialty Media & Marketing Services; and the Internet.
VS&A Communications Partners III, L.P., the firm's $1-billon private-equity affiliate, is also exclusively dedicated to investments in the media and communications industries.
# # #
Merchant Bank | Industry Links | Research Publications
Private Equity Funds | Industry Segments | Career Opportunities | Home