A Los Angeles Private Equity Firm Just Paid $142 Million for a Print Business.

[jim]

Thryv Holdings is making a major strategic shift away from traditional print, announcing a definitive agreement to sell its print Yellow Pages and White Pages business for $142 million in cash to Carolwood L.P., a Los Angeles-based private-equity firm. The transaction covers printed directories in the United States, Australia and New Zealand, along with related digital editions, while Thryv’s Internet Yellow Pages and other digital businesses will remain with the company. Expected to close in the fourth quarter of 2026, the deal will allow Thryv to use the proceeds primarily to reduce debt and other liabilities while focusing on its AI-powered software and digital marketing platform for small businesses. The sale also highlights the changing economics of the traditional print industry: while Thryv no longer considers print directories a core growth business, Carolwood is betting that the established print operation can still generate value as a standalone business. For the broader printing industry, the $142 million transaction raises an important question: is private equity buying a declining print asset—or acquiring a mature business with enough cash flow to remain profitable in a digital-first world?

[Author]

September 15, 2026 at 11:15 AM