PENTON AGREES TO ACQUIRE PROFESSIONAL TRADE SHOWS, INC.Penton Media Penton Media, Inc. (OTC: PTON.OB), founded in 1892, is a diversified business-to-business media company. Penton Media is a mass media corporation that publishes and produces over 40 magazines, 80 trade shows, and 47 web sites. (Cleveland, OH) has entered into a definitive agreement to acquire Professional Trade Shows (PTS PTS put to sleep; a common euphemism for euthanasia, but also used to describe general anesthesia. ; Fremont, CA) from 1st Communications, Inc. (Independence, OH). No terms of the deal were given. PTS (proshows.com) produces 50 events in more than 40 cities throughout the U.S. and Mexico. Major assets include regional trade shows and conferences for the plant engineering and maintenance industries, including three regional "Plant Engineering & Maintenance Shows," as well as trade shows for the materials handling Materials handling The loading, moving, and unloading of materials. The hundreds of different ways of handling materials are generally classified according to the type of equipment used. , buildings and facilities maintenance, design engineering, and machine tool industries. PTS employs 50 people and operations will remain in Fremont. Penton executive vice president James Zaremba said that "PTS events are a strong strategic fit with Penton's Manufacturing and Design Engineering groups and will help strengthen our market positions in a number of market segments we serve..." Besides the sold assets, 1st Communications produces over 130 trade shows and exhibitions in the fields of computers and IT, and agribusiness agribusiness Agriculture operated by business; specifically, that part of a modern national economy devoted to the production, processing, and distribution of food and fibre products and byproducts. . Divisions include Champion Products, Farm Fairs and Network Events. The company is owned by Bain Capital Bain Capital LLC is a Boston, Massachusetts-based private equity firm founded in 1984 by Mitt Romney, the former Governor of Massachusetts, and two other partners from the consulting firm Bain & Company: T. Coleman Andrews III and Eric Kriss. , Triumph Capital Group and Bill Windsor, former Advanstar Expositions president. |
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