Audax Group today announced it has acquired TMP
Directional Marketing, LLC ("TMP"), formerly TMP Worldwide, from
Monster Worldwide, Inc. (Nasdaq: MNST). Headquartered in New York, NY,
TMP is a leading certified marketing representative ("CMR"), placing
advertising for its national clients into Yellow Pages directories and
Internet based digital directories. The transaction includes
Moving.com (formerly Monstermoving.com) a leading web portal focused
on moving related services. Stuart J. McKelvey, President of TMP, has
assumed the additional role of Chief Executive Officer. TMP has 800
employees in 20 offices across the United States, Canada and Japan and
places over $500 million of advertising annually for 1,700 national
clients.
Geoffrey S. Rehnert, Co-CEO of Audax Group, said "TMP is the premier firm for placing advertising in both print and online Yellow Pages directories nationwide. This transaction will give our management team the opportunity to build upon the company's strong history as the industry leader serving the Yellow Pages market for almost 40 years."
Stuart J. McKelvey, President and CEO of TMP, said "We are excited to have the support of Audax Group. Their experience working in collaboration with middle market businesses will help empower our team to better serve our existing customers and to grow our business."
Kirkland & Ellis LLP advised Audax Group. GE Capital Corporation provided senior debt financing, and CapitalSource provided second lien debt financing.
TMP is the third acquisition Audax has closed in recent weeks, and the eighth acquisition it has made in 2005.
ABOUT AUDAX GROUP
Audax Group, founded in 1999, is a leading investor in middle market companies. With offices in Boston and New York, Audax manages in excess of $1.5 billion in equity and mezzanine debt capital. For more information visit the Audax Group website http://www.audaxgroup.com
Geoffrey S. Rehnert, Co-CEO of Audax Group, said "TMP is the premier firm for placing advertising in both print and online Yellow Pages directories nationwide. This transaction will give our management team the opportunity to build upon the company's strong history as the industry leader serving the Yellow Pages market for almost 40 years."
Stuart J. McKelvey, President and CEO of TMP, said "We are excited to have the support of Audax Group. Their experience working in collaboration with middle market businesses will help empower our team to better serve our existing customers and to grow our business."
Kirkland & Ellis LLP advised Audax Group. GE Capital Corporation provided senior debt financing, and CapitalSource provided second lien debt financing.
TMP is the third acquisition Audax has closed in recent weeks, and the eighth acquisition it has made in 2005.
ABOUT AUDAX GROUP
Audax Group, founded in 1999, is a leading investor in middle market companies. With offices in Boston and New York, Audax manages in excess of $1.5 billion in equity and mezzanine debt capital. For more information visit the Audax Group website http://www.audaxgroup.com
© 2005 Business Wire
