Westwood-based Shamrock Capital Advisors announced Sept. 12 the sale of its portfolio company, Questex Intermediate Holdings Inc. to New York-based private equity firm MidOcean Partners.

Questex provides business-to-business information services to the hospitality; healthcare; and telecommunications industries. According to a MidOcean press release, the company earns most of its revenue from a robust events portfolio.

“As opposed to narrowcast events-only businesses, MidOcean believes in the value of surrounding a market with integrated event and media assets. We focus on the customer journey, from discovery and awareness through to consideration and purchase, and the breadth of Questex’s assets in each of their markets allows them to support both their audience and marketers through each step of the journey,” said David Kieselstein, chairman of MidOcean’s executive board and former chief executive of B2B service provider Penton Media Inc.

Current Questex Chief Executive Kerry Gumas will stay involved with the company as a senior advisor focusing on mergers and acquisitions and the transition to new ownership. Gumas will be succeeded by Paul Miller, formerly chief executive of the UBM Technology Group.

Tech reporter Samson Amore can be reached at samore@labusinessjournal.com or (323) 556-8335. Follow him on Twitter @samsonamore.

For reprint and licensing requests for this article, CLICK HERE.