Penton Media sells operations in U.K.

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Cleveland—Penton Media announced Thursday that it has sold its U.K. operations to members of the business’ management team and other investors, led by Northern Venture Managers and U.K. Managing Director Andy Center.

Penton retained a 10% interest in the businesses.

The deal does not include Natural Products Expo Europe or Electronic Design Europe magazine, which are managed by Penton executives in the U.S.

Penton also said it recently completed the sale of 70% of its 50% interest in Penton Media Germany to Neue Medien Ulm Holdings.

"We determined that the portfolio we are divesting does not fit our strategic growth objectives, as we focus new product innovation on e-media and on leveraging our strong print brands in the U.S. and Asia," David Nussbaum, Penton’s CEO, said in a statement.

Financial terms of the transactions were not disclosed.

—Sean Callahan

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