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PENTON PLANS TWO MORE ACQUISITIONS: FOLLOWS BUY OF SHOW PRODUCER

By Published on .

Penton Publishing completed one acquisition last week and plans two more as a prelude to spinning out of parent Pittway Corp. as a publicly traded media company sometime in the second quarter of 1998.

Penton purchased Industrial Shows of America and Industrial Shows of America/International, a producer of 24 industrial trade shows in the U.S. and Latin America Dec. 4; the acquisition adds to Penton's existing 25 trade show and conference events.

NOT IDENTIFIED

Penton Chairman-CEO Tom Kemp wouldn't identify the other two potential deals, except to say that they're business-to-business media companies.

The second acquisition is expected to be completed within a few weeks, Mr. Kemp said.

The final transaction, which executives outside Penton indicate may be for a database marketing company based in the Midwest, is contingent on receiving a favorable ruling from the Internal Revenue Service for a tax-free distribution of Penton shares to Pittway shareholders.

Penton said that together the three businesses would add 10% to 15% to its sales, which were $188 million in 1996. For the first three quarters of 1997,

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