Former Penton CEO David Nussbaum and ABRY Partners are joining forces again, seeking b-to-b media and service investments. Nussbaum, who was named CEO of Penton Media in 2004, last year facilitated the $530 million sale of the company to Wasserstein & Co. ABRY, at the time of the sale, was Penton's largest shareholder and preferred debt holder.

ABRY and Nussbaum's Sundance Business Enterprises are also seeking vertically focused online companies. The two said in a statement that they are looking for companies with strong brands, high quality products and a clear path for growth.

ABRY has committed $100 million of equity capital to this venture, which should approximate "at least a half billion dollars in transactional value," according to the statement. 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.

Nussbaum's 25-year publishing background includes the launch and acquisition of many business media brands including New Hope Natural Media, Meckler Media, PC Expo, and Commercial Property News. ABRY currently owns Cygnus Business Media.