Thursday, May 26, 2005

Those guys who bought the Advanstar properties

There's some coverage in the Boston business press of the private equity group known as the Audax Group, which bought a good portion of the B2B properties of Advanstar. Audax has formed a new company called Questex (what is with these silly, we're-so-modern names?) to run 23 trade publications, 20 exhibitions, 25 conferences and 50 websites covering technology, industrial and specialty products, beauty, travel and entertainment.
Audax is one of those massive investment groups with tons of cash and a penchant for the leveraged buyouts. Similar groups such as KKR, which owns Primedia, and VSS, which owns a bunch of things, are already major players in B2B publishing.
Audax owns a slew of companies, including Readymix Concrete and the Boston Herald newspaper.
After complaining earlier today about a B2B publisher that did such a lousy job of covering itself, I have to point out the Boston Herald failed to mention it is owned by Audax.

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