KKR Buys New Martindale Hubbell Owner Internet Brands
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The titans of the private equity world must be reading the 393 Communications blog.
Just a week after lamenting the new owners of Martindale Hubbell, the directory has been sold on again.
In the latest chapter in the Martindale saga, Internet Brands — which owns Martindale and sister site Lawyers.Com – has been acquired by leveraged buyout behemoth KKR from its existing owners – another private equity company called Hellman & Friedman.
For those that haven’t followed the fast-moving corporate twists and turns, this latest deal comes very soon after Internet Brands struck a joint venture-type arrangement with LexisNexis (the parent of Martindale-Hubbell and Lawyers.Com) in which Internet Brands uses those platforms to provide packages of marketing services to lawyers.
Shortly after, Lexis/Martindale laid off more than 200 people and said that work previously handled by Martindale and Lawyers.Com would shift to the Internet Brands team based in El Segundo, near Los Angeles in California.
According to the Wall Street Journal and Reuters, KKR paid around $1.1 billion for Internet Brands.
Read original articleTags: Internet Brands, Martindale, Martindale-Hubbell
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