Tom Phillips sells Phillips Business Information to affiliates of Veronis Suhler & Associates.A pioneer in the newsletter industry, Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs L. Phillips, has sold Phillips Business Information (PBI PBI protein-bound iodine. PBI abbr. protein-bound iodine PBI, n See iodine, protein-bound. PBI protein-bound iodine. ), the b-to-b division of the multimedia parent company, Phillips International Inc., to two private equity affiliates of the New York-based Veronis Suhler & Associates, a leading merchant bank dedicated to the media, communications and information industries. Terms of the sale were not announced, but during the last fiscal year PBI had revenues of $110 million. The sale did not include the two other subsidiaries of Phillips International--Phillips Health, which publishes health-related newsletters and sells vitamins and nutritional supplements Nutritional Supplements Definition Nutritional supplements include vitamins, minerals, herbs, meal supplements, sports nutrition products, natural food supplements, and other related products used to boost the nutritional content of the diet. , and Phillips Wealth, which, publishes financial and investment newsletters and operates financial web sites. After PBI, the biggest revenue generator for PII See Pentium II. is the vitamin and nutritional supplemental business operated by Doctors' Preferred, which did more than $100 million in sales last year, while the rest of the Health Group is expected to generate another $50 to $60 million. The Wealth Group is expected to generate $90 million this year, to put total revenues for PII at more than $250 million for 2000. Phillips will continue in an active leadership role as chairman of Phillips International and vice chairman of the PBI board. In an interview with NL/NL, Tom Phillips said that he realized that "to take PBI to the next plateau plateau, elevated, level or nearly level portion of the earth's surface, larger in summit area than a mountain and bounded on at least one side by steep slopes, occurring on land or in oceans. , $200 million in sales, it was going to take a lot of capital and financial expertise and, indeed, industry and management breadth... somebody with a portfolio like VS&A." He said, "This is a hard deal... there are no financing contingencies Contingencies (ISSN 1048-9851) is the bimonthly magazine of the American Academy of Actuaries, providing a large and diverse readership with general interest and technical articles on a wide range of issues related to the actuarial profession. . The acquisitions are expected to close by the end of October. Phillips also said that he had turned down a number of deals for PBI in which buyers planned "to break up the division or just absorb it into their own publications and products and just fire everybody." Under the agreement one of the equity partners, VS&A Communications III LP, will acquire all of PBI and its subsidiary businesses except for the Hart Energy Group which will team with Chemical Week Associates and the information products owned by the other equity partner, VS&A Communications II LP (see article, p. 3). VS&A Communications Partners is a private equity firm that has invested more than $1.4 billion in 20 companies and 90 add-on A purchase of additional goods before payment is made for goods already purchased. An add-on may be covered by a clause in an installment payment contract that allows the seller to hold a security interest in the earlier goods until full payment is made on the later goods. acquisitions during the past 12 years. Veronis Suhler publishes Communications Industry communications industry, broadly defined, the business of conveying information. Although communication by means of symbols and gestures dates to the beginning of human history, the term generally refers to mass communications. Report and Communications Industry Forecast. The theme of expansion and growth at PBI was reiterated in the announcement of the sale and in the internal memo from Tom Phillips and PBI president Tom Thompson Thompson, city, Canada Thompson, city (1991 pop. 14,977), central Man., Canada, on the Burntwood River. A mining town, it developed after large nickel deposits were discovered in the area in 1956. to PBI staff. It stated that the acquisition was "a perfect fit" for PBI and that the company "will thrive with the additional capital" from VS&A. "VS&A has the necessary resources to grow existing products, to launch new products at a rapid pace, and to aggressively pursue acquisitions," the memo stated, "that will enable us to consolidate our position as the number one information provider in the dynamic markets that we serve." The memo indicated that PBI will retain "its Potomac office, as well as its other offices across the U.S. and the United Kingdom." "John [Suhler] and the VS&A team have helped PBI over the years with a number of acquisitions and with expanding our current business-to-business products and services... and are committed to PBI's future." PBI, 7811 Montrose Rd., Potomac, MD 20854, 301-340-7788, x6090, fax 301-424-0245, www.phillips.com/pbi. VS&A, 350 Park Ave AVE Avenue AVE Average AVE Alta Velocidad Espanola (train between Madrid and Seville) AVE Alta Velocidad Española (Spanish: High Speed Train) AVE Audio Video Entertainment AVE Advertising Value Equivalent ., New Yark, NY 10022, 212-935-4990, fax 212-381-8168. www.veronissuhler.com. |
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