NVM Private Equity has sold Ithaca Business Media in a £14.25 million trade sale to United Business Media’s UK-based business information division, CMP Information.

NVM Private Equity has sold Ithaca Business Media in a £14.25 million trade sale to United Business Media’s UK-based business information division, CMP Information.

The deal realised a return of three times the original investment over a two-year period NVM acquired Ithaca, a business-to-business exhibition, events and media group, in April 2005 through a management buy-out from US outfit Penton Media.

Ithaca’s operations currently focus on the growing IT, internet and leisure markets.