New York—Advanstar Communications confirmed Thursday that it is "exploring strategic alternatives, including a possible sale of the company."
Advanstar has retained the investment banking group at Credit Suisse First Boston to assist in this effort. A CSFB private equity fund is the principal owner of Advanstar, which operates 57 expositions and conferences, publishes 55 magazines and directories, and has 75 electronic publications and Web sites.
"The progress we have made in executing our market-focused strategy—including the Questex transaction and the expansion of our businesses in our key markets—has exceeded our expectations. The combination of our improved financial performance, strong growth prospects and an active M&A market, have resulted in increased interest in Advanstar within the investment community," Joe Loggia, Advanstar president-CEO, said in a statement.
In separate news, Advanstar on Wednesday announced an acquisition of its own. The company acquired the Michigan Motorcycle Show and Motorama events from TBJ productions, the event organizing arm of Boco Enterprises.
Advanstar plans to combine the Detroit leg of its Cycle World International Motorcycle Shows presented by Toyota Trucks with the Michigan Motorcycle Show and Motorama in January 2006. The combined show will be called the Michigan International Motorcycle Show.