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Sunday, April 09, 2006

101communications Sold? 

I've been trying to take a few days off with the family, but the world of b2b media news respects no limits.

A few days ago, Folio: reported that the sale of 101communications LLC is close to done:

According to a report Tuesday in the Dow Jones LBO Wire, 101 owner Frontenac Co. has agreed to sell the company to the private-equity firm Nautic Partners for $75 million, or 10-times EBITDA.

Click the link for more on the valuation, which some observers think is a bit lower multiple.

I give Tony Silber's Folio: a lot of credit for staying ahead of this story. Back in December, Tony reported:

In recent days, observers of the deal scene have been raising Neal Vitale’s name. Vitale, who is based in Los Angeles, is a former president of Petersen Publishing. He’s backed by the equity firm Nautic Partners.

I also give a lot of credit to 101communications' employees and their leader, Jeff Klein, for much patience through this extended sale process. Nothing can harm a company more than internal uncertainty. I trust the deal will close quickly and smoothly, and that all can go on about their business with speed.

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