Local Insight Acquires CBD Media

Local Insight Media LP, a portfolio company of Welsh Carson Anderson & Stowe, has acquired Cincinnati-area directories publisher CBD Media, which is backed by Spectrum Equity Partners and Wachovia Capital Partners. Leverage was provided by Wachovia Securities, Lehman Brothers Inc., Merrill Lynch & Co. and GE Capital. No specific financial terms were disclosed, except that the combined company will have annual revenue of more than $225 million, and Spectrum will retain a minority ownership position.