RLJ Equity Partners, an affiliate of The RLJ Companies, has completed the sale of its portfolio company Media Source. RLJ Equity Partners acquired Media Source from the Riverside Company in 2011.
Media Source (MSI) is a provider of content, information and advice to the library market, serving K-12, public and academic librarians, publishers and suppliers. The company’s services and products include print and digital collection development services, online and live professional development, book and multimedia reviews, journal subscriptions, websites and webinars. Subsidiary companies include: Junior Library Guild, The Horn Book, Library Journal and School Library Journal. The company is based northwest of Columbus in Plain City, OH (www.mediasourceinc.net).
“Media Source, Inc. has a long-standing reputation as a trustworthy resource for librarians and school systems across the country,” said RLJ Equity Partner’s Managing Director Jerry Johnson. “RLJ is pleased with MSI’s performance as we worked with management to expand the company’s market position and increase its profitability by developing a range of new services, an e-book platform, and improving its sales force effectiveness.”
RLJ Equity Partners invests from $15 million to $30 million in companies valued between $50 million and $250 million. Target companies will have operating profits greater than $7 million and operating margins greater than 10%. Sectors of interest include aerospace & defense; auto & transportation; business services; consumer retail; general industrial; and media & telecom. RLJ Equity Partners was founded in 2006 by Robert L. Johnson in partnership with The Carlyle Group. The firm is headquartered in Bethesda, MD (www.rljequitypartners.com).
“RLJ Equity Partners provided an exceptional level of assistance to MSI and our efforts to become a leader in the education services market,” said Media Source, Inc. CEO and President Randy Asmo. “With RLJ’s strategic direction and relationships, MSI continued to thrive and increase our national presence and product offerings within the library and academic marketplace.”
Piper Jaffray & Co. advised RLJ Equity Partners on the sale of MSI, and DLA Piper provided legal counsel on the deal.
2014 PEPD • Private Equity’s Leading News Magazine • 7-17-14