WASHINGTON (December 17, 2002) - Hanley-Wood LLC has purchased A/E/C Systems International from Penton Media, Inc. A/E/C Systems produces two trade shows serving the architectural, engineering and construction industries. Hanley-Wood is the leading business-to-business media company serving the housing and construction industry. Founded in 1976, Hanley-Wood is a $160 million company owned by VS&A Communications Partners III, LP, the private equity affiliate of media industry merchant bank Veronis Suhler Stevenson.
"We've been interested in these trade shows for ten years," says Michael M. Wood, CEO of Hanley-Wood. "During that period these shows grew to be the premier technology events for architects, engineers, and contractors with as many as 20,000 attendees and 125,000 sq. ft. of exhibit space. This acquisition is a natural fit for Hanley-Wood and expands the company's commitment to the commercial construction market."
Known primarily as the leading media company in the residential construction industry, Hanley-Wood also owns the World of Concrete show as well as four commercial construction trade magazines, including Concrete Construction. The two events will be managed by Hanley-Wood's Dallas-based Exhibitions Division, headed by Galen Poss.
"We are tremendously excited about the potential for these events but realize that substantive changes need to be made in order to reestablish their industry importance," Poss stated. "Both events will be revamped in terms of structure, curriculum and commitment," he continued. "Our plan for 2003 is to focus on producing a high-level event targeted to senior-level architects, designers and engineers with strong educational and sponsorship programs. We'll be announcing the 2003 program and location shortly."
Hanley-Wood publishes leading magazines in the residential and commercial construction industry including Builder, Big Builder, Multifamily Executive, Remodeling, The Journal of Light Construction, ProSales, Custom Home, Residential Architect, Building Products, Concrete Construction, Tools of the Trade and Pool & Spa News. From its Exhibitions Division, based in Dallas, Hanley-Wood produces nine trade shows, four of which are listed in the Trade Show 200, including World of Concrete at #19. Hanley-Wood Integrated Marketing is based in Minneapolis. The Home Planners Division, based in Tucson, is the leading publisher of house plan magazines, Special Interest Publications and eplans.com. Hanley-Wood's Internet Division has a major Internet presence through its sites including Builder Online and Remodeling Online, and ebuild, the comprehensive guide to building products.
Penton Media is a leading, global business-to-business media company that produces market-focused magazines, trade shows and conferences, and a broad offering of online media products. Penton's integrated media portfolio serves the following industries: mechanical systems/construction; manufacturing; design/engineering; natural products; food/retail; supply chain; aviation; government/compliance; leisure/hospitality; information technology; electronics; and Internet/broadband.
Veronis Suhler Stevenson is a leading independent merchant bank dedicated to the media, communications and information industries. VS&A Communications Partners III, LP (Fund III) is the third private equity fund managed by Veronis Suhler Stevenson. Capitalized at $1 billion, it is one of the largest private equity funds dedicated exclusively to investments in the media, communications and information industries. Together with Fund III's predecessor funds, VS&A Communications Partners have invested in 28 platform companies across media segments and the realized and unrealized enterprise value of these investments total over $5 billion.
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