AutoTrader.com acquires HomeNet Automotive

December 28, 2010 — Fusion DigiNet

Automotive marketplace and consumer information website AutoTrader.com has acquire the assets of HomeNet Automotive, a lprovider of online inventory management and merchandising solutions for the automotive retail industry. The HomeNet assets will be acquired by a newly formed wholly-owned subsidiary of AutoTrader.com.

For dealers, incorporating HomeNet’s proprietary inventory management system into AutoTrader.com’s dealer tools will allow for easier and faster inventory management and merchandising online.  Consumers shopping for vehicles on AutoTrader.com will have access to better vehicle information, enhanced listings that include more photos and dealer comments, advanced search capabilities and more frequent updates and information about the cars they are shopping for and researching.

The closing of the HomeNet purchase is the third in a series of acquisitions AutoTrader.com has announced in recent months.  In September, AutoTrader.com announced the purchase of vAuto, the automotive retail industry’s provider of software tools for used vehicle management, pricing and inventory optimisation.  In October, AutoTrader.com announced its acquisition of Kelley Blue Book.

“With the closing of the HomeNet acquisition, AutoTrader.com has brought together an amazing set of companies, people and automotive marketing and merchandising solutions under one roof,” said AutoTrader.com President and CEO Chip Perry.  “We look forward to the next stage of our evolution as we work to continue serving auto manufacturers, auto dealers and auto shoppers through AutoTrader.com and these three outstanding companies.”

USA, Atlanta, GA & West Chester, PA

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AutoTrader.com closes the Kelley Blue Book acquisition

December 16, 2010 — Fusion DigiNet

 AutoTrader.com, the automotive marketplace and consumer information website, has completed its transaction to acquire Kelley Blue Book, the provider of new car and used car information. The deal was reported by Fusion DigiNet in October.

AutoTrader.com says it will be maintaining Kelley Blue Book’s independent and unbiased position in the marketplace.  Furthermore, AutoTrader.com is committed to maintaining and strengthening Kelley Blue Book’s role as The Trusted Resource® for vehicle valuation and other important information consumers, dealers, manufacturers, financial and governmental institutions rely upon.

“Kelley Blue Book has a wonderful history as an iconic brand and trusted provider of vehicle information to generations of car buyers and sellers,” said AutoTrader.com President and CEO Chip Perry.  “And as we look into the future we believe AutoTrader.com and Kelley Blue Book can together bring a host of new technologies and tools to market that will significantly improve the car shopping process for consumers and help auto dealers and manufacturers better capitalize on the fundamental marketing efficiencies provided by the Internet.”

Kelley Blue Book, founded in 1926, launched its top rated web site in 1995 and is now a leading provider of new and used vehicle pricing information to the auto industry. The company provides its values to dealers, banks, finance and insurance companies nationwide on a weekly basis. In the last few years, the company implemented a new multi-million dollar, state-of-the-art vehicle information management system, positioning the company to deliver the best market insights in the auto industry. 

USA, Atlanta, GA & Irvine, CA

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AutoTrader.com to acquire Kelley Blue Book

October 27, 2010 — Fusion DigiNet

Automotive marketplace and consumer information web site AutoTrader.com is acquiring Kelley Blue Book, the new- and used-vehicle information business. As part of the deal, AutoTrader.com will also acquire Kelley Blue Book’s sister companies CDMdata and CDM Dealer Services.

Details of the transaction are not being disclosed. Kelley Blue Book will operate as a subsidiary of AutoTrader.com and continue to be headquartered in Irvine, CA. The deal is expected to close by the end of the year. J.P. Morgan acted as Kelley Blue Book’s exclusive financial advisor through this process.  Goldman, Sachs & Co. acted as financial advisor to AutoTrader.com.

“AutoTrader.com is excited about becoming the new owner of Kelley Blue Book because we believe the company has a great future,” said AutoTrader.com President and CEO, Chip Perry. “Kelley Blue Book has a wonderful history as an iconic brand and trusted provider of vehicle information to generations of car buyers and sellers, and as we look into the future we believe together we can bring a host of new technologies and tools to market that will significantly improve the car shopping process for consumers, and help auto dealers and manufacturers better capitalize on the fundamental efficiency advantages of the Internet.”

USA, Atlanta, GA & Irvine, CA

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AutoTrader.com acquires vAuto

October 18, 2010 — Fusion DigiNet

Automotive marketplace and consumer information website AutoTrader.com has completed its transaction to acquire vAuto, the automotive retail industry’s provider software tools for used vehicle management, pricing and inventory optimization.

The finalized agreement, first announced on September 17, makes vAuto a subsidiary of AutoTrader.com.  AutoTrader.com is majority owned by Cox Enterprises, Inc. with additional ownership stakes held by the venture capital firm Kleiner Perkins Caufield & Byers and the private equity firm Providence Equity Partners.

USA, Atlanta, GA

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Cox Enterprises sells 25% of AutoTrader.com to Providence Equity Partners

May 5, 2010 — Fusion DigiNet

Providence Equity Partners is taking a 25-percent equity interest in Cox Enterprises owned AutoTrader.com. Cox made the announcement today. They will maintain majority ownership and operating control of AutoTrader.com, and Providence’s ownership will have no impact on day-to-day operations.  Providence will assume two seats on AutoTrader.com’s Board of Directors.

“All of us at AutoTrader.com are excited to see Providence Equity invest in our company,” said Chip Perry, CEO and president, AutoTrader.com. “Their support will enable us to pursue the many organic growth opportunities, as well as strategic acquisitions, that will help improve the products and services we offer our customers.”

The venture capital firm Kleiner Perkins Caufield & Byers is also an investor.

Goldman, Sachs & Co. advised Cox in this transaction. 

Locations: USA, Atlanta, GA
Sectors: Internet : eRetail
Ref: F231109-417

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Providence acquires CloserStill Media for £340M

December 19, 2018 — Fusion DigiNet

Providence EquityFollowing our earlier report, Providence Equity Partners has now acquired CloserStill Media, the previous owner of Clarion Events, for a reported £340 million.

The move comes after years of significant growth for the organiser, which was valued at £25 million in 2012 when Phoenix Private Equity bought into the company and £125 million in 2015 when Inflexion bought a minority stake.

Since the Inflexion investment in 2015 the organiser has made eight acquisitions – five in 2017 and three in 2018 – but CloserStill Chairman and CEO Phil Soar highlighted that the majority of the company’s growth has been organic. Much of the growth has come from the geo-cloning of successful shows in Asia, Germany and the US, with the launch of events such as Cloud Asia, Learning Technologies Germany and New York Vet.

In 2011 Providence acquired George Little Management in the US, which was then sold to Emerald Expositions in early 2014. In 2017 the company sold Clarion Events to Blackstone for a reported £600 million.

Andrew Tisdale, Managing Director at Providence, said, “CloserStill is an exceptional business led by a strong management team with a proven track record of developing and acquiring successful events around the world. With a compelling global portfolio and diverse customer base across the technology, learning and healthcare sectors, CloserStill is well-positioned to accelerate the momentum the business has generated to date. We are excited to partner with such a fantastic team and look forward to working together.”

USA, Providence, RI & UK, London

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Providence exhibits £300m bid for London Vet Show owner

November 30, 2018 — Fusion DigiNet

Providence EquityProvidence Equity Partners , the private equity firm behind Ambassador Theatre Group, is in talks to buy exhibitions group CloserStill Media for about £300m, according to a report by Sky News.

CloserStill is being sold by Inflexion, another buyout firm, which backed the company in 2015. A significant proportion of CloserStill’s revenues come from outside the UK, with exhibitions such as Dentiste Expo in Paris and Cloud Expo Asia in Singapore among its events. The deal with Providence, which could be signed within weeks, follows the investor’s £600m sale of Clarion to Blackstone last year.

 

USA, Providence, RI & UK, London

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Providence Equity acquires Clarion Events for over £200M

January 14, 2015 — Fusion DigiNet

Providence EquityExhibition news is reporting that Clarion Events has been sold to global asset management firm Providence Equity in a deal thought to be worth just over £200 million.

ClarionThe report says Providence competed in a second round of bidding against ITE Group, Penton Media, Charterhouse Capital Partners and Carlyle Group LP. Providence are expected to invest in further acquisitions for Clarion.

Read the story here.

UK, London

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Guardian to sell its stake in Auto Trader for upto £700M

January 23, 2014 — Fusion DigiNet

AutotraderGuardian Media Group is selling its 50.1% stake in Auto Trader owner Trader Media Group to private equity firm Apax Partners in a deal thought to be worth £600m to £700m to the Guardian publisher.

The sale to Apax, which bought 49.9% of Trader Media Group in 2007 and has been GMG’s joint venture partner in the business since then, is thought to give TMG an enterprise value of about £1.8bn. The exact financial details of the deal were not revealed.

GMG’s sale of the TMG stake is subject to reguatory approval and final completion.

Andrew Miller, the chief executive of GMG, said: “This proposed transaction makes strategic sense as we focus GMG’s activities on award-winning digital and print journalism. On completion, the sale proceeds will strengthen our balance sheet and position us for further investment and growth in our core business.”

Neil Berkett, the chair of the GMG board, said: “Once completed, this deal will make GMG a very well-capitalised media organisation with the financial flexibility to navigate the rapidly-changing media environment, where our flagship titles are proven pioneers of digital and print innovation.”

The Scott Trust, sole shareholder in GMG, has given its approval for the proposed sale and authorised the company board to reinvest the proceeds to enable it to continue to safeguard the Guardian’s editorial and financial independence.

Bank of America Merrill Lynch and Freshfields Bruckhaus Deringer advised GMG on the deal.

UK, London

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GLM acquires the Pier Antiques Show & the Antiques at the Armory Show from Stella Show Management Company

May 20, 2013 — Fusion DigiNet

GLMGLM has acquired the Pier Antiques Show and the Antiques at the Armory Show from Stella Show Management Company. This transaction follows the Miami National Antiques Show acquisition earlier this year. Terms of the deal were not disclosed.

“Following the recent addition of the Miami National Antiques Show to our annual events, the acquisition of these established shows in New York further strengthens U.S. Antique Shows’ position as the world’s leading producer of indoor antique shows,” said Dan Darby, GLM vice president and U.S. Antique Shows group show director. “In our unique position, we will bring more than 50,000 consumers together with 2,400 dealers, from 22 countries, who exhibit rare merchandise and signature collections in the key U.S. antique and jewelry markets.”

The Pier Antiques Show, one of New York City’s largest, trendsetting shows featuring Fashion Alley and Book Alley, is held semi-annually in March and November, and features 500 exhibitors of quality antique furniture, decorative and fine arts, at Pier 94. The next Pier Antiques Show will be held on November 23-24, 2013.

Originally launched in 1995, the Antiques at the Armory Show has become a mainstay of Americana Week in New York each January. The Show features 100 select exhibits of fine and affordable American & European antiques, period furniture, Americana, folk art, garden and architectural artifacts, fine art and prints.

“The Pier Antiques Show and Armory Antique Show are a natural fit for U.S. Antique Shows,” said Andrea Canady, director of business development, U.S. Antique Shows. “Producing these incredibly unique shows will allow us to develop new, more distinct and comprehensive selling opportunities for dealers, including dealers who have exhibited with U.S. Antique Shows for more than 40 years, while broadening the reach for each of these well-established events.”

USA, Naples, FL & New York, NY

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