Apprise Media, which is backed by Spectrum Equity Investors, announced April 21 that it has agreed to acquire Canon Communications from a private equity fund operated by media merchant bank Veronis Suhler Stevenson.
Los Angeles-based Canon specializes in the medical device and plastics markets. It produces 15 trade shows, publishes 15 magazines and operates eight online properties. Industry observers said the deal was for about $200 million.
The deal marks New York-based Apprise's first entry into b-to-b media. In January, it acquired Beckett Publications, a consumer niche publisher of sports and entertainment collectible guides.
"We believe that the b-to-b media segment is in the early stages of a cyclical upturn and that well-positioned companies like Canon have strong growth potential," said Apprise Media CEO Charles G. McCurdy, a co-founder of Primedia.
Canon's key properties are in the medical device sector and include devicelink.com, Medical Device & Diagnostic Industry and the Medical Design and Manufacturing trade show. M