Commonwealth Business Media, Inc. (CBM) is the leading provider of dedicated information products and services, including customized and proprietary data, magazines, directories, references, newsletters, and online services, to the international trade and transportation industry of North America.  CBM, based in East Windsor, New Jersey, was formed by BP to acquire, from PRIMEDIA, Inc., the assets of the PRIMEDIA Directories Group.

BP initially provided the capital to CBM to fund the required acquisition deposit, as well as all transaction expenses.  BP negotiated the purchase with PRIMEDIA and the employment and equity participation arrangements with the management team, while also arranging the financing required to complete the initial $34 million acquisition.  The extensive experience of the CBM management team in integrating acquired properties has been an important component of the success of the Company. 

Subsequent to the original transaction, BP has worked very closely with CBM's management to complete three important strategic add-on acquisitions and two recapitalization financings.

In November 2001, BP assisted CBM's management team in the acquisition of a large competitor, The Journal of Commerce, from the Economist Group, PLC.  BP assisted in purchase negotiations and arranged a recapitalization of CBM aggregating approximately $60 million.  Then, in June 2002 with BP’s assistance, CBM acquired Trade Inc., a strategic add-on for the Company's PIERs database business. 

On December 31, 2003 CBM completed a $55 million recapitalization financing in which the Company entered into a new $45 million senior bank facility and issued $10 million in senior subordinated notes.  Bariston actively advised CBM’s management in this transaction.  In March 2005, BP assisted the Company in the completion of its acquisition of BACK Aviation Solutions, a leading provider of aviation and air transportation information.  On a combined basis, CBM now has annual revenues of approximately $60 million and a dominant position in its core trade and transportation markets.

In July of 2006, Commonwealth was sold to United Business Media, plc, a publicly traded strategic acquirer based in the United Kingdom.  United Business Media retained all of CBM’s executive management team.