M&A Market’s Second Half Opens with a Bang
Richard Reiff, who left his post as president of Cygnus Publishing earlier this year, recently announced he had formed a new media company, Advantage Business Media, and that he had acquired Reed Business Information’s New Products (RNP) division. RNP consists of 21 properties, including a number of scientific, technical and medical (STM) magazines and an online search vehicle called ReedLink, which will be rebranded. Reiff is joined in his venture by George Fox, former Cygnus vice president and group publisher. The duo is being backed by equity investment partner Catalyst Investors. Reiff talked with Publishing Executive about his new company, his first acquisition and his plans for expansion.
Publishing Executive: With the deal for RNP only recently closed and everything coming together so quickly, what do you foresee your next several weeks looking like?
Richard Reiff: [Laughs.] We’ll be meeting people, circling the wagons. We’ll be looking to meet everyone and have them tell us about themselves, their products and that sort of thing.
PE: Can you briefly explain how the acquisition happened and what about the company made it so appealing?
Reiff: We were approached that [RNP was available]. … We like the markets in the science, technology and electronics areas. We like them a lot, and we [see] a lot of opportunities in these sectors. [RNP] had been a platform company going back, for the most part. … And I suppose one of the most attractive things we realized is that while [RNP] wasn’t completely self-contained, it was as close as we were going to get. So we got a real nice size company with a very entrepreneurial history …
PE: How did Catalyst Investors become involved?
Reiff: I had a relationship with Blair Schmidt-Fellner, former president and partner [of Catalyst], and that’s how I was introduced to them.