First Advantage, which is backed by Symphony Technology Group, has closed its buy of LexisNexis Risk Solutions‘ employment and resident screening business.LexisNexis Risk Solutions is a division of Reed Elsevier. The transaction was announced in January. BofA Merrill Lynch acted as financial advisor to First Advantage. BofA Merrill Lynch and Tennenbaum Capital Partners provided financing.

Investcorp has put SourceMedia, which publishes American Banker and The Bond Buyer, up for sale. Jordan Edmiston is advising. Private equity is expected to dominate the auction, sources tell peHUB.

LONDON (Reuters) – Publisher Reed Elsevier’s (REL.L) (ELSN.AS) said on Wednesday its Chief Executive Ian Smith had quit because he was the wrong man for the times. Smith, an industry outsider who resigns after only eight months in the job, will be replaced by divisional chief Erik Engstrom. A company spokesman said: “Ian and the [...]

Bain Capital, a US-based private equity fund, is leading the chase for Reed Business International, a unit of publisher Reed Elsevier that houses titles such as New Scientist, Variety and Estates Gazette. According to reports, Bain Capital is favourite to win RBI, which has an expected value of approximately US$1bn, although Reed Elsevier management is [...]

NEW YORK (Reuters) – The financing package offered by Reed Elsevier (REL.L: Quote, Profile, Research, Stock Buzz) in the sale of its trade publication unit might come in smaller than expected, causing bidders to reexamine their offers, a source familiar with the matter said on Monday. Only a few bidders remain in the third-round auction [...]