2002 Top 10 Transactions

Publishing, Information and Training Industries

Source: Whitestone Communication's Annual Who's Buying Whom Report

  Buyer Seller Comments
1. Thomas H. Lee & Co., The Blackstone Group, and Bain Capital Vivendi Universal $1.66 billion plus assumption of $380MM in debt for Houghton Mifflin; Educational and children's book publisher; EBITDA $300MM
2. Investima 10 (Natexis Banques Populaires, France) Vivendi Universal $1.25 billion for Vivendi Universal Publishing; Acquisition includes VUP's general literature, reference and educational publishing units, excluding Houghton Mifflin
3. Reader's Digest Association Reiman Publications $760MM; Publisher of cooking, gardening, country lifestyle and nostalgia magazines and books; Rev. $300MM, EBITDA $70MM
4. Cinven Ltd. (U.K.) and Candover Partners Ltd. (U.K.) Wolters Kluwer $583MM for Kluwer Academic Publishers; Publishes 675 scientific journals; Rev. $241MM
5. American Media, Inc. Weider Publications, Inc. $350MM for this publisher of health and fitness magazines, including Shape, Flex, and Muscle & Fitness
6.

Socpresse (France)

Vivendi Universal $287.2MM for Vivendi's consumer press division, including the Express-Expansion magazine group and the Comareg free-press unit
7. U.S. Investigations Services, Inc. The Official Information Company (VS&A Communications Partners) $245MM for Total Information Services, Inc.; Pre-employment screening services
8. Moody's Corp. KMV $210MM; Risk management software and other services for banks, insurance companies, asset managers and investment banks; Est. rev $60MM
9. Cardinal Health, Inc. Boron, LePore & Associates, Inc. $200MM; Medical education products and solutions for the healthcare industry
10. VNU World Directories Golden Pages Ltd. (Ireland) $194MM for the remaining 63% stake it did not already own; Publisher of directories in traditional and electronic forms