Law firm Proskauer advised Veronis Suhler Stevenson (VSS) on the sale of its portfolio company, SHL, to The Corporate Executive Board Company for $660 million in cash.
The transaction is expected to close in the third quarter of 2012, subject to clearance under the Hart-Scott Rodino Antirust Improvements Act of 1976.
The sale is the latest in a series of significant matters Proskauer has handled on behalf of long-time client VSS. Other recent deals have included the 2011 merger of VSS portfolio company PreVisor, Inc., with SHL; the $1.14 billion acquisition of Advanstar Communications from DLJ Merchant Banking Partners and related financings and roll-up acquisitions, the acquisition of Brand Connections Marketing & Media and the purchase of Facts on File Group from Primedia Inc., among others.
VSS is a leading private equity and debt capital fund management company dedicated to investing in the information, education, media, marketing and business services industries in North America and Europe.
The Proskauer team advising on the transaction was led by Corporate Partner Lawrence Budish and Tax Partner Solomon Warhaftig.
