London—Wilmington Group, a U.K.-based information provider that focuses on professional business markets, has acquired Compliance Week from Haymarket Media Group.
Wilmington paid $11.2 million in cash for Compliance Week. The deal includes additional deferred consideration of up to $3 million if Compliance Week achieves profit-growth targets.
Compliance Week provides governance, risk and compliance information and events for public companies and other large enterprises, primarily in the U.S.
Lee Maniscalco, CEO of Haymarket's U.S. division, said in a statement: “Compliance Week is an incredibly strong business and a leader in its particular field, managed by a talented team of professionals. But it is not in a market in which Haymarket can provide scalable growth, and we believe that the business will be better served by Wilmington.”
Berkery Noyes acted as Haymarket's financial adviser in the deal.