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BtoB

VSS attempting to sell Hanley Wood

Published on .

New York—Industry observers confirmed Monday that media merchant bank Veronis Suhler Stevenson is attempting to sell construction media company Hanley Wood. VSS acquired Hanley Wood, which then generated $100 million in annual revenue, for a reported $260 million in 1999. Currently, Hanley Wood generates $200 million in annual revenue, and observers say the company could fetch $500 million in an auction. "It’s the right time horizon, and the M&A market is so strong," said Kathleen Thomas, managing director of communications industry investment bank Berkery, Noyes & Co. "The multiples being paid are so strong, and the auctions are all extremely active." Under VSS, Hanley Wood has made numerous acquisitions, including the Meyers Group, a construction industry research firm. Peter Goldstone, president of Hanley Wood’s magazine division, said the company expected that business, which currently generates about $20 million in annual revenue, to generate $50 million a year in five years. "It’s too much fun around here," Goldstone said. "There’s no shortage of ideas; we’re just short of manpower, the people to get it all done."

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