DLJ Merchant Banking Partners Announces USD 1.142 Billion Sale of Advanstar

NEW YORK--(BUSINESS WIRE)--DLJ Merchant Banking Partners (“DLJMB”), a private equity investment affiliate of Credit Suisse, announced today its sale of Advanstar Holdings Corp. to an investor group led by Veronis Suhler Stevenson in a transaction valued at USD 1.142 billion.

Advanstar Holdings Corp. is the holding company for Advanstar Communications Inc., a leading worldwide media company providing integrated marketing solutions for the Fashion & Licensing, Life Sciences, and Powersports industries. DLJMB acquired Advanstar in 2000.

“Advanstar is another example of the success that DLJ Merchant Banking Partners has experienced in the media sector,” said Kamil Salame, Managing Director at DLJMB and lead partner on the Advanstar investment. “We partnered with a strong management team to refocus the company on expansion and growth.”

During the course of DLJMB’s ownership, Advanstar streamlined operations by selling diverse properties and reducing overhead. Through organic growth and a series of acquisitions, Advanstar and its subsidiaries gained clear industry leading positions in a number of areas. The company built a focused B to B portfolio, combining shows, publications and education events for maximum client exposure and cost efficacy.

Scott Marden, Chairman of DLJMB’s team of media industry partners and Director of Advanstar, stated, “DLJ was able to bring to bear its strong in-house media expertise and make a meaningful impact on the direction of the company and the conduct of its operations.”

Joe Loggia, Advanstar’s CEO, commented, “This transaction reflects the success of our strategy and the quality of our industry leading products that, combined with our strong growth record, have created a solid platform for the future.”

With a significant history of investing in the media sector, DLJMB has also invested in the MGM film library, Thompson Publishing, Visant (formerly Jostens) and WRC Media. In April 2006, DLJMB appointed three new media industry partners – Tim Schoonmaker, Nigel Walmsley and Rupert Shaw – to oversee the firm’s European media efforts.

DLJMB makes control investments in middle market companies, acting as lead sponsor for USD20-200 million equity investments. Leveraging its affiliation with Credit Suisse, DLJMB is able to source proprietary opportunities in a diverse range of industries and regions. Post investment, DLJMB draws upon the expertise of a team of industry and operating partners to create value in its portfolio companies.

Information

Suzanne Fleming, Director, Corp Comm Tel: 212-325-7396 suzanne.fleming@credit-suisse.com

About Advanstar

Advanstar Communications Inc. (www.advanstar.com) is a leading worldwide media company providing integrated marketing solutions for the Fashion & Licensing, Life Sciences and Powersports industries. Advanstar serves business professionals and consumers in these industries with its portfolio of 87 events, 60 publications and directories, 128 electronic publications and Web sites, as well as educational and direct marketing products and services. Market leading brands and a commitment to delivering innovative, quality products and services enables Advanstar to “Connect Our Customers with Theirs.” Advanstar has roughly 1,000 employees and currently operates from multiple offices in North America and Europe.

About DLJ Merchant Banking Partners

DLJ Merchant Banking Partners (“DLJMB”) is a leading private equity investor that has a 21-year record of investing in leveraged buyouts and related transactions across a broad range of industries. DLJMB, with offices in New York, London and Los Angeles, is part of Credit Suisse's Alternative Investments business ("AI"), one of the largest alternative asset managers in the world, with more than $108 billion of assets under management. AI, which is part of the Asset Management business, is comprised of a diverse family of funds, including private equity, leveraged buyouts, mezzanine, real estate, secondary funds and fund of funds, as well as the businesses covering hedge funds (both direct and fund of funds), leveraged loan and collateralized debt obligation investment programs, core real estate funds, and quantitative investment and volatility management products.

About Credit Suisse

As one of the world's leading banks, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 40,000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN) are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com

In its Asset Management business, Credit Suisse offers products across the full spectrum of investment classes, ranging from equities, fixed income, and multiple asset-class products to alternative investments such as real estate, hedge funds, private equity and volatility management. Credit Suisse's Asset Management business manages portfolios, mutual funds, and other investment vehicles for a broad spectrum of clients ranging from governments, institutions, and corporations to private individuals. With offices focused on asset management in 18 countries, Credit Suisse's asset management business is operated as a globally integrated network to deliver the bank's best investment ideas and capabilities to clients around the world.