Apax Partners explores sale of US marketing company Advantage
09 Apr 2014
Apax Partners is exploring a sale of Advantage Sales & Marketing Inc (ASM), a deal that could fetch the British private equity firm between $3 billion and $4 billion, Reuters yesterday reported, citing people familiar with the matter.
Apax is working with Bank of America Merrill Lynch on an auction of ASM, the report said.
Apax acquired ASM from JW Childs Associates and Bank of America Merrill Lynch's private equity arm in 2010 in a reported $1.8 billion deal.
Founded in 1987, California-based ASM is a leading sales and marketing agency that helps companies build brand value.
ASM's customised sales and marketing solutions include headquarter sales, retail merchandising and marketing services, specialising in client and customer events, publications and assisted-selling services for the grocery, drugstore, club, convenience, natural/specialty, consumer electronics, sporting goods and home centre industries.
The company has more than 35,000 associates and 66 offices in the US and Canada.
