101communications, LLC ("101"), an integrated media company focused on the information technology community, has been acquired by 1105 Media, Inc., a company backed by private equity firms Nautic Partners and Alta Communications in partnership with Neal Vitale, a former Reed Elsevier and Petersen Publishing executive. Terms of the transaction were not disclosed. Following the transaction, Jeffrey S. Klein, president and CEO of 101, will assume a non-operational role as non-executive Chairman of the Board. Financing for the purchase was provided by Merrill Lynch, 101's current lender, while The Jordan, Edmiston Group, Inc. represented the 101 shareholders in the sale.
(www.jegi.com; www.frontenac.com; www.101com.com; www.nauticpartners.com; www.altacomm.com)