ALM Sells to Incisive Media for $630M

NEW YORK CITY-Wasserstein & Co. LP, an independent private equity and investment firm, has signed a definitive agreement to sell ALM , the New York City-based parent firm of Real Estate Media . London-based Incisive Media will purchase the publisher and conference producer from US Equities Partners LP, a private equity fund sponsored by Wasserstein, for $630 million.

“We expect the deal to close within the next two months,” said ALM president and CEO William Pollak in a statement to employees, “although no date has yet been set.” In addition to the Real Estate Media properties, which includes GlobeSt.com and Real Estate Forum Magazine, ALM owns and publishes a range of national and regional magazines and newspapers, including The American Lawyer, Corporate Counsel and The National Law Journal. REM also publishes Real Estate Southern California, Real Estate New York, Real Estate New Jersey, GlobeSt/RETAIL and seven targeted newsletters. The division also produces the RealShare Conference Series.

“We chose to view this as not just a sale from one owner to another, but as an opportunity to find a new partner who could help ALM achieve its growth plans and become a global provider of leading legal and real estate publications and websites, and a significant player in the global conference and event business,” Pollak said.