F&W Publications, parent company of Adams Media, Krause Publications and a host of special-interest magazines, has been acquired by Abry Partners, a private equity firm based in Boston. The deal, worth a reported $500 million, is expected to close by the end of July, at which point F&W president Steve Kent will be succeeded by David Steward, formerly with TV Guide and Martha Stewart. In addition to Adams and Krause, F&W owns such book imprints as Writers Digest and David & Charles, and has book revenue estimated at $110 million.