Cygnus Sells Heavy Construction and Logistics Group to AC Business Media
Cygnus Business Media shed another piece of its portfolio with the sale of its Heavy Construction and Logistics Group to AC Business Media, a new publishing company.
The sale consists of one trade show – National Pavement Expo – as well as nine publications and related Web sites.
“We are very pleased to have found a buyer of these highly profitable multi-platform properties serving the heavy construction and logistics print and digital publications business that will utilize the current team’s creativity and experience,” said John French, CEO of Cygnus Business Media.
AC Business Media is owned by Anil Narang and Carl Wistreich, and Kris Flitcroft is the new company's executive vice president, a role she filled for Cygnus, as the EVP of the Residential, Construction, Landscape and Facilities segments of the Cygnus portfolio.
Terms of the deal were not disclosed.
“The acquisition of this business for AC Business Media is a great launch pad for future acquisitions. This transaction will help the company expand their strategic goals to other publishing, trade show and digital properties in the B2B space”, said Nick Curci, president of Corporate Solutions, who worked on the transaction.
He added, “AC Media was the winning bidder after careful consideration of several other offers by other strategic and financial buyers.”
Last year, Cygnus sold its agriculture-related portfolio to the American Farm Bureau Federation, a nonprofit that supports farmers and is based in Washington, D.C.
The purchase included five trade shows: Minnesota Farmfest, Dakotafest, Amarillo Farm and Ranch Show, Northern Illinois Farm Show and the IDEAg-branded Interconnectivity Conference.
Cygnus is in the construction, public safety, aviation, technology and transportation sectors and has shows, such as EMSWorldExpo, FirehouseExpo and the Facilities Expo Series and other print and online properties.