M&A Roundup: LRP Publications; Naperville; MedTech
LRP sells unit to Thomson Reuters; Chicago Tribune buys Naperville.
LRP Publications, which serves the legal, government and education markets, sold its Public Employment Group and Bankruptcy/Banking Products Group to Thomson Reuters. Berkery, Noyes & Co. handled the deal.
The acquisition is part of a push to extend coverage to Chicago suburbs. Naperville is controlled distribution with a circulation of 30,000. Other print and digital products within the Chicago Tribune stable include RedEye, Hoy, TribLocal, TheMash, chicagotribune.com, chicagonow.com, chicagoshopping.com and metromix.com.
Naperville publisher Leah Rippe will stay with the magazine, reporting to Chicago publisher and general manager Rich Gamble.
Regional Media Advisors handled the transaction.
Meanwhile, Neil Rouda has sold his majority stake in MedTech Media to Healthcare Information and Management System Society. TheMedTech management team, including president Jack Beaudoin, will retain "significant ownership" in the company.
HIMSS has been a partner of MedTech since 2003 (Rouda had sold them a 30 percent stake previously)and will begin publishing Government Health IT in 2011. Editorial decisions for MedTech’s Healthcare IT News and Healthcare Finance News will remain independent while MedTech will continue to produce the HIMSS Daily Insider, the HIMSS Expo Yellow pages and the HIMSS Resource Guide.
Berkery Noyes advised Rouda in the transaction.