MidOcean Partners Announces Penton Aquisition
Penton Acquires London-based MRO Network to Expand Service Offering in the Fast Growing Aircraft Maintenance, Repair and Overhaul Segment
November 2, 2015
Expands Penton’s leading Global MRO portfolio, taps projected fleet growth and related maintenance needs over the next decade
NEW YORK – MidOcean Partners (“MidOcean”), a premier middle market private equity firm, is pleased to announce that on October 30, 2015 Penton, an innovative professional information services company, acquired MRO Network, which will expand its position as the premier information services provider and event producer for the fast-growing aircraft maintenance, repair and overhaul (MRO) segment.
The acquisition of MRO Network, including the Airline Purchasing & Maintenance Europe (ap&m) Expo, expands Penton’s events business and enhances its data and marketing services businesses through the addition of more than 50,000 MRO professionals to Penton’s MRO Links digital directory platform. The ap&m event focuses on second, third and fourth-tier aftermarket suppliers, providing the perfect complement to Aviation Week’s MRO Europe event, which engages tier one and two suppliers. In addition to the ap&m Expo, other MRO Network assets include a global conference series, the ATE&M Awards, and a portfolio of media and digital products.
“With the acquisition of MRO Network, Penton is able to offer ‘one-stop shopping’ to marketers looking to expand their presence across the entire supplier spectrum, from tier one through tier four,” stated Greg Hamilton, Market Leader and head of Penton’s Aviation Week Network. With this acquisition, Penton’s MRO business is now expanded across Europe and the Middle East, and joins existing MRO franchises in North and South America as well as Asia. MRO becomes the largest segment of Penton’s aviation portfolio and positions the business as the leading information services provider serving this segment.
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About Penton Media
Penton is an innovative information services company that empowers nearly 20 million business decision makers in markets that drive more than 12 trillion dollars in purchases each year. Our products inform with rich industry insights and workflow tools; engage through dynamic events, education and networking; and advance business with powerful marketing services programs. Penton is the way smart businesses buy, sell and grow. Headquartered in New York, Penton is privately owned by MidOcean Partners and Wasserstein & Co., LP. For more information, visit http://www.penton.com.
About MidOcean Partners
MidOcean Partners is a premier New York-based alternative asset manager that specializes in middle market private equity and alternative credit investments. Since its inception in 2003, MidOcean Private Equity has managed approximately $4.8 billion of committed capital and has targeted investments in high-quality middle market companies in the consumer and business services sectors. MidOcean Credit Partners was launched in 2009 and currently manages over $8 billion across a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts as of December 31, 2019.
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