Waste and recycling publications Waste Dive and Waste360 will share the same ownership following the completion of a recently announced acquisition deal.
Informa, a U.K.-based business-to-business information company, will acquire Industry Dive for $389 million, according to Reuters.
A publicly traded company, Informa owns publishing and events outlet Waste360, which includes the annual WasteExpo. Informa, which is involved in a host of other industries and services, tallied 2021 revenues of 1.8 billion British pounds (about $2.17 billion).
Based in Washington, D.C., Industry Dive provides business journalism and digital content for about two dozen industries, including the waste and recycling industry through Waste Dive. Overall, the company has about 100 full-time journalists working on 27 digital publications.
In 2019, private equity firm Falfurrias Capital Partners purchased a majority stake in Industry Dive, which was founded in 2012. Informa recently agreed to purchase the majority equity interest from Falfurrias Capital Partners.
The deal is expected to close in the third quarter of this year, subject to regulatory approval and satisfaction of other closing conditions.
Industry Dive will remain a standalone business under Informa’s tech division, according to a press release.
“The leadership and editorial teams you know will stay in place, as will our commitment to independent coverage,” Industry Dive’s co-founders, Eli Dickinson, Sean Griffey and Ryan Willumson, wrote in a note to readers last week.
According to Industry Dive’s announcement of the deal, Informa “sees opportunities to accelerate the rollout of more Dive publications, launch new live and on-demand events to established Dive communities and develop additional specialist B2B services for clients, among other potential.”