New York—Veronis Suhler Stevenson has acquired TMP Worldwide Advertising & Communications from Monster Worldwide in a deal valued at $45 million.
The sale includes all TMP’s advertising and communications business in the U.S. and Canada. Michelle Abbey, previously group president-advertising and communications at TMP, was named president-CEO of the organization.
Under new ownership, TMP will focus on expanding its role as a leading recruitment advertising agency.
Veronis Suhler Stevenson is a private equity and mezzanine capital fund management company for the media industry.