$43.6B U.S. agency revenue
Peerless Media, a company formed by managers of the former RBI supply chain group, on Thursday completed the acquisition of Logistics Management, Material Handling Product News, Modern Materials Handling and Supply Chain Management Review from Reed Elsevier.
Financial terms of the deal were not disclosed.
Peerless Media will operate as a subsidiary of EH Publishing, which produces magazines, events and digital products serving the technology and construction industries.
“Our team couldn’t be more excited for this opportunity,” Brian Ceraolo, former publisher of the supply chain group and exec VP of Peerless, said in a statement. “The brands are already leaders in their respective markets, and with a solid company like EH supporting us, they’ll only get better.”
Separately, CFE Media, a company formed by former RBI publishers Jim Langhenry and Steven Rourke, announced Friday that it has acquired Control Engineering, Consulting-Specifying Engineer and Plant Engineering from RBI. Financial terms of the deal also were not disclosed.
“We are extremely excited to relaunch and re-energize the brands that have meant so much to so many engineers over the years,” Langhenry, CFE Media president, said in a statement. “Our top priority will be to provide these targeted engineering audiences with high-value content that they can obtain through whatever media source they choose and apply to their work.”
Industry sources say similar management buyouts are being negotiated for a number of the other 16 RBI titles closed by Reed Elsevier.