Wasserstein & Co. announced today that it has retained Credit Suisse to "explore strategic alternatives," including a sale, for ALM, a New York City-based publisher specializing in the legal industry.

The move comes shortly after Wasserstein merged Prism Business Media (formerly Primedia Business) with Penton Media in January. Wasserstein bought Primedia in August 2005 for $385 million, and teamed with MidOcean Partners to buy Penton for $530 million in late 2006, making it one of the largest b-to-b publishing owners. In addition to ALM, Wasserstein also owns The Deal.

With more than $200 million in estimated revenue, ALM has been a solid performer. The company publishes 34 national and regional magazines and expanded beyond the legal market with the acquisition of Real Estate Media in 2005.