Cobert and Veronis: Together Again

A collaboration between the former CEO of Canon Communications and Veronis Suhler Stevenson topped the past week's merger and acquisition activity, which also included the acquisition of a U.K.-based event firm by United Business Media and the purchase of a conference business by Thompson Publishing.

Veronis Suhler and William Cobert jointly announced that they would make investments together in the events business through the company Cobert founded after the sale of Canon Communications to Apprise Media, EBITDA Media.

"We've agreed to jointly go out and look for investment opportunities," Cobert said.

During the nine years he ran Canon Communications, it was a portfolio company of Veronis Suhler, so his return to a partnership with the investment banking firm would appear to be a natural fit.

"We are very pleased to be working with Bill Cobert again," said Hal Greenberg, VSS managing director. "The experience and expertise of VSS, coupled with Bill's know-how, should make a highly successful combination."

EBITDA Media already owns Green Media Enterprises, which plans to launch two annual shows next year — Green East and Green West, in New York and Los Angeles — focusing on environmentally friendly products and services.

While saying he and VSS were "not tied to any specific verticals" when it comes to investment opportunities they might pursue, Cobert pointed out that the green show launches had "already said to the world we're interested in this."

He also said, "I tend to like high-tech. (Whatever they acquire) should be something very dynamic and fast-changing."

In other news, United Business Media's business information division, CMP Information, acquired Ithaca Holdings for £14.25 million ($28.6 million). The U.K. event company has three significant tradeshows: Internet World, held each May at Earl's Court in London; Leisure Industry Week, held in September at the Natl. Exhibition Center in Birmingham, U.K.; and Service Management Europe, in October, also at NEC in Birmingham.

Ithaca also owns three smaller events: London Calling, Triple i and Saltex.

CMP Information CEO Gary Hughes said the events it was getting in the Ithaca Holdings acquisition would complement some of his company's other business-to-business media properties.

"It builds and broadens CMPi's media portfolio in a number of our existing markets," Hughes said, "adding a complementary event component to our offerings in each of those B-to-B communities."

Finally, Thompson Publishing acquired the Performance Institute from its owner and founder, Carl DeMaio. Performance Institute produces a number of print and online publications and events that promote management practices, primarily in government.

Terms were not disclosed. Berkery Noyes assisted Performance Institute in the acquisition.

DeMaio started Performance Institute in 2000 to provide training for government managers. Three years later, he created a separate entity called the American Strategic Management Institute to offer the same type of training in the private sector.

The two entities will stage 31 conferences this year, and Thompson is acquiring both of them. DeMaio will continue as advisory board chairman after the transaction closes.

Berkery Noyes Managing Director Kathleen Thomas said, "There is a compelling strategic fit between these organizations. The acquisition creates significant synergy for both entities."