Former Penton CEO David Nussbaum and media PE firm Abry Partners are joining forces again, seeking B2B media and service investments. Nussbaum sold Penton to Wasserstein & Co. last year and merged with Prism Business Media, will head the $100 million kitty provided by Abry, reports Folio. The PE firm was Penton’s largest shareholder and preferred debt holder at the time of the sale last year. That of course means Nussbaum is leaving the merged companies.
Both Abry and Nussbaum’s Sundance Business Enterprises are also seeking vertically focused online companies. Potential targets include integrated media companies, business services/data companies primarily focused on e-media platforms, and companies that transact critical business services over the Web. More details in release.
BtoBonline: Nussbaum’s move comes less than a month after B2B media veteran Jim Casella aligned with private equity firm Austin Ventures to form Case Interactive Media.
Related:
-- Penton Sold To Wasserstein for $530 Million; Will Merge With Prism
-- MidOcean Buys 50 Percent Stake In Combined Prism/Penton Merger