media

Apax Acquires Dominion Marine Media

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Apax Partners has agreed to acquire Dominion Marine Media from Dominion Enterprises, a subsidiary of Landmark Media Enterprises. The transaction is expected to close in the third quarter of 2016.

Dominion Marine Media (DMM) operates the world’s largest and most popular recreational marine digital marketplaces – BoatTrader, boats.com, YachtWorld, and CosasDeBarcos – with over 62 million unique visitors annually and more than 300,000 boat and yacht listings. DMM also provides marketing software which is used by boat dealers and brokers to increase inventory turnover. DMM was founded in 1999 and is led by its president, Ian Atkins. The company has offices in Norfolk, VA; Vancouver, BC; Hampshire, UK; Barcelona, Spain; and Padova, Italy (www.dominionmarinemedia.com).

“Our brands have a long tradition of excellence in providing leading digital business solutions for the recreational boating industry,” said Mr. Atkins. “We are confident that the expertise and resources provided by the Apax team will not only further our mission of driving boat sales globally, but will be essential to our next phase of growth.”

Apax has prior experience investing in the digital classifieds and lead generation sector having acquired or invested in TRADER Corporation (automotive advertising); AutoTrader (online automotive classifieds); Bankrate (online aggregator of financial rate information); Dealer.com (online marketing platforms for auto dealers); Idealista (online real estate classifieds); and Soufun (online real estate classifieds).

“The recreational marine industry is poised for digital transformation and DMM is the only integrated digital media, technology and data platform positioned to capture this opportunity globally,” said Marcelo Gigliani, a partner at Apax Partners. “We are excited to be backing Ian and his team and are eager to leverage our experience investing in and operating leading digital classifieds businesses to accelerate growth at DMM.”

Apax invests in the technology and telecom; services; healthcare; and consumer sectors. The firm has eight offices located in London, New York, São Paulo, Munich, Tel Aviv, Mumbai, Hong Kong and Shanghai (www.apax.com).

New York-based investment bank Evercore (www.evercore.com) advised Dominion Enterprises.

© 2016 Private Equity Professional • 7-27-16

Onex and Baring Asia to Buy IP and Science Biz

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Onex Corporation and Baring Private Equity Asia have agreed to acquire the intellectual property & science business (IP&S) of Thomson Reuters for $3.6 billion.  It is estimated that IP&S has annual revenues of approximately $1 billion with a 32% EBITDA margin.

The transaction is expected to be funded with an equity investment of $1.6 billion for 100% ownership of IP&S. Onex’ and its co-investors will provide $1.2 billion of the equity with Baring providing $400 million. The transaction is expected to close later this year.

IP&S owns a collection of subscription-based businesses that provide access to scientific literature, patent, trademark, and pharmaceutical content. Customers of IP&S include academic institutions, corporations, governments and law firms. The IP&S portfolio includes Web of Science, Thomson CompuMark, Thomson Innovation, MarkMonitor, Cortellis and Thomson IP Manager. IP&S is headquartered in Philadelphia, and employs approximately 4,100 people in 75 offices in 40 countries (www.ipscience.thomsonreuters.com).

“IP&S is a diversified portfolio of high-quality, well-positioned businesses providing proprietary, curated content through products and services that are entrenched in their customers’ day-to-day activities,” said Kosty Gilis, a Managing Director with Onex. “We are delighted to have the opportunity to acquire the company and partner with management and Baring Asia to enhance IP&S’ operations and support its growth in the years to come.”

Onex Corporation makes private equity investments through the Onex Partners and the ONCAP families of funds. Onex has more than $23 billion of assets under management and is based in Toronto with additional offices in New York and London (www.onex.com).

“We look forward to partnering with IP&S management and Onex to support the development of the company globally, particularly in Asia where we see a differentiated growth opportunity,” said Jean Eric Salata, Founder and Chief Executive of Baring Asia. “Already an established leader in China and across the region, we believe the outlook for the business is underpinned by an increasing shift towards more knowledge driven economies and a continued emphasis on research and development.”

Baring Private Equity Asia advises funds that manage more than $10 billion in committed capital. The firm runs a pan-Asian investment program, specializing in mid-cap buyouts and providing growth capital to companies for expansion or acquisitions. Baring Asia currently has over 35 portfolio companies across Asia with 150,000 employees and revenues of over $31 billion.  The firm has been investing in Asia since its formation in 1997 and has approximately 125 employees located in Hong Kong, Shanghai, Beijing, Mumbai, Singapore, Jakarta, and Tokyo (www.bpeasia.com).

Latham & Watkins (www.lw.com) is serving as legal advisor to Onex and Baring Asia on the transaction.

© 2016 Private Equity Professional • 7-12-16

TZP Group Acquires This Old House

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TZP Group has entered into an agreement to acquire This Old House Ventures, LLC and all of its associated media properties, from Time, Inc. TZP partnered with media and publishing executive Eric Thorkilsen, a former Time executive, on the transaction.

This Old House Ventures (TOH) is a multi-platform home improvement brand that produces two television series (“This Old House” and “Ask This Old House”) and publishes a website, print magazine, and a line of books. The company also has capabilities in custom video production, digital marketing, brand licensing, live events and custom publishing. Upon conclusion of the sale, TOH will manage all of its own core business functions, including original television production, digital content and operations, advertising sales, magazine editorial, brand licensing, and marketing. The operations of the company will be based in a new facility in Stamford, CT (www.thisoldhouse.com).

Time will remain involved with TOH through long-term service agreements to provide back office operations including magazine production, consumer subscription marketing, and fulfillment and distribution services.

Mr. Thorkilsen, who has been named Chief Executive Officer of This Old House Ventures, spent 30 years at Time and held a number of senior positions with Time Magazine, People, Sports Illustrated, Martha Stewart Living and This Old House Ventures where he was the founding executive. He is currently the founder and CEO of Lifestyle Media Partners, a strategy, management and production company that develops existing trademarks and intellectual property across multi-media distribution and revenue streams.

“I have been a champion of This Old House for the better part of three decades and it is an honor to be able to rejoin this extraordinary franchise and bring it to a new generation of fans,” said Mr. Thorkilsen. “I could not have made this leap without the support of my partners at TZP, who were steadfast in their resolve that this was a worthy investment.”

The buy of TOH will be the fourth investment made by TZP Growth Partners l, LP, which closed in June 2015 with $177 million of capital commitments. Investments made by TZP Growth range from $10 million to $25 million in companies with up to $8 million of EBITDA. TZP is based in New York (www.tzpgroup.com).

“We see our investment in This Old House Ventures as an incredibly compelling value proposition in the home category, driven by our high regard for the brand’s well-earned stature and reputation,” said Bill Hunscher, a partner of TZP. “Through Eric’s stewardship, we believe that we can carefully accelerate the growth, unlock its enormous potential and ensure that This Old House thrives for years to come.”

Portico Capital, an investment bank that specializes in the information and business services/software sectors, was the financial adviser to TZP Group and Mr. Thorkilsen. Portico has offices in New York and London (www.porticocapital.com).

Time Inc. (NYSE:TIME) is one of the largest media companies in the world with a monthly print audience of over 120 million and worldwide digital properties that attract more than 150 million visitors each month. The company is based in New York (www.timeinc.com).

© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 4-5-16

Audax Acquires AllOver Media

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Audax Group has signed an agreement to acquire AllOver Media, a provider of out-of-home advertising media.

AllOver Media (AOM) is one of the largest out-of-home advertising platforms in the US.  The company’s core products include gas station advertising, truckside advertising, indoor advertising, door hangers and cash jackets (cash jackets are branded money envelopes given out at check cashing locations).  AOM’s media products are placed at convenience stores and gas stations, on truck sides and at a variety of indoor locations, including restaurants, nightclubs and sports arenas.  The company provides national, regional or local media plans to its more than 1,000 member customer base.  AOM was founded in 2002 and is headquartered in Minneapolis (www.allovermedia.com).

“AllOver Media is a leading alternative out-of-home media company with an unparalleled reputation for providing innovative advertising products and exceptional service to their customers,” said Geoffrey Rehnert, Co-CEO of Audax Group. “We look forward to partnering with Tony Jacobson, Shaun Nugent and the rest of the AllOver Media team to continue growing the business organically and through strategic add-on acquisitions.”

Out-of-home advertising, which includes billboards, ads on transit vehicles, and placed-based ads in malls, airports, and elevators, is a complex advertising channel. With thousands of operators in countless locations around the country, out-of-home advertising is highly fragmented, local in nature, and labor-intensive to execute.  Recently there has been other private equity transactions in the out-of-home advertising sector. Just last month, Boathouse Capital completed an investment in Out of Home America Wilkins, one of the oldest (founded in 1965) and largest independent out-of-home media specialists in the country. Out of Home America Wilkins is based in New York (Boathouse Closes Investment in OOHA).

“AllOver Media has had significant success developing and deploying a diverse set of advertising mediums at high-traffic indoor and outdoor locations throughout the United States,” said Tony Jacobson, CEO and Founder of AllOver Media. “We have established a reputation as a top innovator in providing advertising products, and we serve thousands of customers nationwide. With Audax as our new partner, we can more rapidly achieve our growth objectives; their track record of sourcing and integrating add-on acquisitions will fuel growth and allow us to introduce additional innovative advertising products to our customers.”

The Audax Group makes control investments of $10 million to $100 million in middle market companies with transaction values of $25 million to $500 million. Sectors of interest include industrial manufacturing; energy; outsourced industrial services; consumer products; healthcare devices and services; non-asset based logistics; technology; aerospace & defense; business services; and direct marketing.  Audax has over $6 billion in assets under management in its private equity, mezzanine, and senior debt businesses. The firm was founded in 1999 and has offices in Boston and New York (www.audaxgroup.com).

© 2015 PEPD • Private Equity’s Leading News Magazine • 3-20-15

Shamrock Acquires Questex

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Questex, a business information and events company, has been acquired by Shamrock Capital Advisors in partnership with the company’s senior management.

Questex is a business information and events company serving corporate and government clients worldwide.  The company produces over 50 tradeshows, conferences, and other business events annually and publishes more than 100 business media and information products.  Questex’s divisions include Hospitality& Travel; Beauty & Wellness; Nightclub & Bar; Entertainment; I.T. & Telecom; and Life Sciences & Healthcare. Questex also owns digital media publisher, FierceMarkets, and market research and advisory services provider, InfoTrends.    Questex has approximately 350 employees and is headquartered in Newton, MA (www. Questex.com).

“Over the years, Questex has aggregated a unique set of assets with significant untapped potential,” said William Wynperle, a Partner at Shamrock Capital Advisors. “We look forward to working with CEO Kerry Gumas and the Questex team to capitalize on a tremendous need in today’s marketplace through additional strategic investments and the benefit of our combined experience.”

Shamrock Capital Advisors has over $700 million of capital under management and invests in the media, entertainment, and communications sectors. Originally founded in 1978 as the Roy E. Disney family investment company, Shamrock is currently investing out of Shamrock Capital Growth Fund III, a $400 million fund raised in 2011. The firm is based in Los Angeles (www.shamrockcap.com).

“Shamrock Capital is the perfect partner for Questex at this point in our evolution. They have a deep understanding of the media, communications and entertainment sectors and the customers we serve. They support our ongoing business initiatives and they share our goal of extending Questex’s service offerings and market footprint,” said Kerry Gumas, the President & CEO of Questex.

Jefferies served as the financial advisor to Questex for this transaction. 

2014 PEPD • Private Equity’s Leading News Magazine • 9-18-14

AUA Acquires Blue Star Media

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AUA Private Equity Partners has completed the acquisition of Blue Star Media in partnership with Brian Crosby and Sanjay Syal, the company’s founder.

Blue Star is an event, media, and entertainment company specializing in consumer expos, events, and national touring shows and exhibits. Blue Star is the producer of the “Discover the Dinosaurs” show in the United States and internationally. Since inception, Blue Star has promoted more than 2,000 shows and events that have attracted more than 6 million visitors. The company has a 20+ year track record as an owner, operator and promoter of consumer and business trade shows, expos and exhibits.  “Discover the Dinosaurs” has held more than 200 events and been attended by approximately 2 million visitors since inception. Blue Star is based in Minneapolis (www.discoverthedinosaurs.com) (www.bluestarshows.com).

AUA’s strategy for Blue Star Media is to accelerate growth by increasing the scale and presence of the “Discover the Dinosaurs” show in the United States and internationally, and expanding the company’s portfolio of shows.

Sanjay Syal, founder and CEO of Blue Star, will continue to lead the company through its next stage of growth. In connection with the transaction, Peter Englehart will consult for the company as Executive Producer and support Mr. Syal in executing the company’s strategic growth initiatives.  Mr. Englehart was most recently Chairman and CEO of Competitor Group, a consumer event, media and entertainment company serving the endurance sports industry, and has also worked at OLN and Speedvision Cable Networks, ESPN and ABC Television.

“Blue Star has a proven history of operating and promoting highly-successful events and shows, with “Discover the Dinosaurs” being one of the leading dinosaur-themed touring shows in the United States,” said David Benyaminy, Partner at AUA Equity.  “We look forward to partnering with Sanjay and the team at Blue Star to build the company into a leading multi-concept event, media and entertainment platform and replicating our success of taking family-owned businesses to the next level.”

“We are excited to partner with AUA Equity, Brian Crosby and Peter Englehart as we embark on this new stage for our business. Their relevant operational expertise and AUA Equity’s real-life experience identifying advertising and sponsorship opportunities which target the Hispanic customer will be key strategic advantages for future growth,” said Mr. Syal.

AUA Private Equity Partners makes equity investments in companies in the consumer, media and business services sectors with a particular focus on Hispanic-oriented companies and family-owned businesses located in the United States. The firm invests from $10 million to $30 million of equity in companies that generate at least $3 million of EBITDA. The firm is based in New York (www.auaequity.com).

The AUA Equity deal team was comprised of Partner David Benyaminy and Associate Jack Lin who worked in conjunction with Brian Crosby and Peter Englehart.  Bruce Behm of Minneapolis-based Quazar Capital Corporation acted as sell-side advisor.  Lowenstein Sandler, with a team led by Michael Brosse, provided legal advice to AUA Equity and Thomas Harlan of Madigan, Dahl & Harlan, PA provided legal advice to the seller.

2014 PEPD • Private Equity’s Leading News Magazine • 6-11-14

Wasserstein & Co. to Acquire ALM Media

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Wasserstein & Co. has entered into an agreement to acquire ALM Media, a portfolio company of Apax Partners and the Royal Bank of Scotland, for a reported $417 million.  Ontario Pension Board, Pantheon, the Honeywell pension, and HighVista Strategies are co-investing in the transaction alongside Wasserstein.  The transaction is expected to close in the third quarter of 2014.

ALM Media is an integrated media company and a provider of specialized business news, research and information, focused primarily on the legal and commercial real estate sectors.  ALM’s portfolio of over 350 print and digital publications – which include The New York Law Journal, The American Lawyer, Corporate Counsel, Law.com, and The National Law Journal –receives more than 6.5 million page views per month. The company has nearly 700 employees across 16 offices worldwide and is headquartered in New York (www.alm.com).

Wasserstein & Co. previously owned ALM and sold the company to Incisive Media in 2007 for $630 million.  “We are delighted to have the opportunity to own ALM again and look forward to working with ALM’s experienced management team to strengthen and unify its media brands and expand into value-added digital subscription products and services,” said Michael Struble, Managing Director of Wasserstein & Co.

Wasserstein & Co. is focused primarily on leveraged buyout investments and related investment activities in the media, consumer products and water equipment and services industries. The firm has offices in New York and Los Angeles. The investment in Recorded Books was made through the firm’s third investment fund, Wasserstein Partners III (www.wasserco.com).

“ALM’s publications and digital products are the best in the industry. They are the market leaders, and invaluable to US legal professionals. We are excited about the opportunity to work with ALM again to grow its remarkable print and digital products and trade shows,” said Anup Bagaria, Co-Managing Partner of Wasserstein & Co.

Financing for the transaction will be provided by Macquarie Capital (USA).  Jefferies acted as financial advisor to the company, Apax Funds, and RBS.

2014 PEPD • Private Equity’s Leading News Magazine • 6-5-14

Clarion Capital Acquires SQAD

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Clarion Capital Partners has completed the acquisition of SQAD, a provider of TV, radio and digital advertising cost analysis. The existing shareholders of SQAD, including CEO, Neil Klar, will maintain an ownership stake in SQAD.

“SQAD has an exceptional management team and is highly respected within the media industry,” said David Ragins, Managing Director with Clarion Capital Partners. “We are in a media landscape where the value of timely and accurate data to make critical advertising decisions is unprecedented, and SQAD is uniquely positioned to capitalize on this revolution thanks to its exceptional data-focused products and industry leadership position.”

SQAD is a provider of TV, radio and digital advertising cost analysis. SQAD provides media data to advertising agencies, buying services, advertisers, television and radio stations, cable operators, program syndicators and Internet publishers. SQAD is headquartered in Tarrytown, NY (www.sqad.com).

Neil Klar will remain CEO of SQAD and continue to lead and oversee the operations of the business. Joining the leadership team, and as part of Clarion’s investment, SQAD has hired industry veteran Stephen Baker as its CFO.

“SQAD is a tremendous platform for organic growth and add-on acquisitions,” said Mr. Ragins. “Clarion will provide SQAD with added resources and experience to evaluate potential partnerships and acquisitions that offer additional value for SQAD’s customers.”

Clarion Capital Partners is a middle market private equity firm that invests from $15 million to $50 million in companies that have EBITDAs greater than $10 million. Sectors of interest include: business services; healthcare services; specialty financial services; consumer products; specialty retail; and media & entertainment. Clarion is based in New York (www.clarion-capital.com).

Debt financing for this transaction consisted of a senior credit facility provided by Abacus Finance Group and a subordinated note provided by BB&T Capital Partners and Stellus Capital Management.

© 2013 PEPD • Private Equity’s Leading News Magazine • 11-6-13

Lynx Equity Acquires Majestic Media

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Lynx Equity has acquired Majestic Media, a developer of social media campaigns and applications. Majestic, Lynx’s first media-focused acquisition, is among Lynx’s three acquisitions in the past month, and seventh of 2013.

Majestic Media is a developer of custom social campaigns and applications with a focus on digital and mobile marketing programs. Products include Facebook applications, mobile and emerging technologies, microsites, web applications and platforms and infographics. Customers of Majestic include, among others, Scotiabank, Maple Leaf Foods, and Virgin Mobile. The company is based in Toronto (www.majesticmedia.ca).

“We are thrilled to acquire a world-class, multi-national brand. This is a new platform for Lynx, and we look forward to the tremendous potential for growth within this space,” said Dustin Mandel, Lynx Partner.

Lynx Equity, a subsidiary of Succession Capital Corporation, acquires small to medium sized companies with enterprise values of C$2 million to C$8 million. Sectors of interest include manufacturing, business services, financial services, industrial products, food and consumer products. The firm is based in Toronto (www.lynxequity.com).

“We are always pleased to add a new industry to our portfolio, especially one that is experiencing similar growth to ours. Majestic will be a valued addition to our group,” said Brad Nathan, Lynx President.

© 2013 PEPD • Private Equity’s Leading News Magazine • 11-1-13

Clairvest Invests in Cieslok Media

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Clairvest Group has made a $15 million investment in Cieslok Media, formerly Titan Outdoor Canada Company.

Cieslok Media is a Canadian outdoor advertising firm operating predominantly large format digital and static billboards throughout major cities in Canada. The company has offices in Toronto, Montreal and Vancouver (www.cieslokmedia.com).

“When looking to make an investment in our chosen domains, our goal is to find the right partner. In addition to entering an attractive and growing market, we are investing alongside Jörg Cieslok, a proven industry visionary and executer with deep experience in the outdoor advertising market in Canada. We believe Cieslok Media is a highly attractive company and look forward to supporting its growth in the coming years,” said Mitch Green, Managing Director at Clairvest.

The Clairvest Group invests in mid-market companies, principally in North America, across a range of industries. Clairvest looks to invest from $15 million to $50 million in equity capital in companies with EBITDAs from $5 million to $40 million. Desired ownership percentages range from 20% to 80%. The firm is based in Toronto (www.clairvest.com).

“Cieslok Media is about to embark upon an exciting growth trajectory and we require an active partner who supports our vision. Clairvest brings much more than capital to this deal. It shares our enthusiasm towards the future and will be a valuable resource to me and my team,” said Jörg Cieslok, CEO of Cieslok Media.

© 2013 PEPD • Private Equity’s Leading News Magazine • 9-30-13

Wolseley Exits Nextmedia

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Wolseley Private Equity has sold its portfolio company Nextmedia to Forum Media Group. Nextmedia is a publisher of special interest magazines and the fourth largest magazine publishing group in Australia.

Nextmedia publishes over 40 special interest publications plus websites, forums, books, DVDs and posters including titles such as Inside Sport, Golf Australia, Tracks, Australian Muscle Car, Bluewater Boats & Sports Fishing, PC PowerPlay, Sound & Image, Camera, Healthy Food Guide and a range of children’s titles. Wolseley Private Equity formed Nextmedia through the acquisitions of four family owned publishing businesses in early 2008 followed by two subsequent acquisitions during 2009. Nextmedia is based in St. Leonards, NSW (near Sydney) (www.nextmedia.com.au).

Wolseley Private Equity invests in established Australian and New Zealand companies with enterprise values between $20 million and $150 million. The firm has $350 million of funds under management raised through two funds in 2005 and 2008. Wolseley Private Equity is based in Sydney (www.wolseley.com.au).

“During the past three years Nextmedia has delivered outstanding growth and has become Australia’s leading specialist publisher and fourth largest consumer publisher.  As a result of the transaction Wolseley will sell its stake in the business while the executive team, comprising CEO David Gardiner and Commercial Director Bruce Duncan, will retain a financial interest in Nextmedia,” said Wolseley Managing Director, James Todd.  “We have been pleased with our investment in Nextmedia and delighted to have invested alongside David and Bruce. We are very impressed with their vision and ability to establish a serious media platform which is well positioned for further growth under Forum’s ownership.”

Forum Media Group publishes print and digital products in the specialist B2B and consumer sectors and operates in 15 countries employing approximately 780 people. Forum is headquartered in Bavaria, Germany (www.forum-media.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 9-30-13

EQT Exits Springer Science+Business Media

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EQT and GIC Special Investments have agreed to sell Springer Science+Business Media, a scientific, technical and medical publisher, to BC Partners for €3.3 billion. Springer had sales in 2012 of €981 million and EBITDA of €341 million. EQT and GIC acquired Springer in February 2010. The sale of Springer to BC Partners is expected to close in August 2013.

Springer sells academic content, primarily journals, databases and books, to academic research libraries and libraries of research-intensive institutions, as well as to corporate customers. Springer published approximately 2,200 English-language journals and more than 8,000 new books in 2012, and the company is home to the world’s largest scientific, technical and medical (STM) eBook collection. The company was founded in 1842 and employs more than 7,000 individuals. Springer is headquartered in Luxembourg (www.springer.com).

“Springer is a leading player in the highly interesting academic publishing market. We are proud to have supported the company’s growth since 2010. The development of Springer’s portfolio towards scientific, technical and medical content and the significant investments into the digitalization of its business model provide an excellent basis for Springer’s future success,” said Marcus Brennecke, Partner at EQT Partners.

EQT Partners pursues medium sized companies in Northern Europe, Eastern Europe, China and the US. The firm is based in Stockholm with other offices in Copenhagen, Helsinki, Oslo, Frankfurt, Munich, New York, Shanghai, Hong Kong and Warsaw (www.eqt.dk).

GIC Special Investments is the private equity arm of the Government of Singapore Investment Corporation. GIC invests internationally in equities, fixed income, money-market instruments, real estate and private equity. GIC was founded in 1981 and is based in Singapore (http://www.gic.com.sg/en).

“As a leading scientific, technical and medical publisher, Springer is extremely well positioned to benefit from the significant growth trends in scientific publishing such as open access, eBooks and the rapidly growing number of researchers in emerging economies. We are glad that we will have BC Partners at our side when realizing this potential,” said Derk Haank, CEO of Springer.

BC Partners has $16.4 billion of capital under management and invests in companies in a variety of sectors that have significant European operations. The firm has offices in London, Hamburg, Milan, New York and Paris (www.bcpartners.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 6-19-13

Alden Global Capital Acquires Journal Register Company

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Alden Global Capital has acquired substantially all of its assets of Journal Register Company through a Chapter 11 Section 363 process. This transaction was approved by the Bankruptcy Court in March 2013 and closed in April 2013.

Alden, which acquired substantially all of the senior debt and equity of Journal Register in mid-2011, was the stalking horse bidder during the bankruptcy process. Alden’s bid was ultimately the highest and best price for Journal Register and the sale closed in early April.

Journal Register is an online and print provider of local news, sports, business and lifestyle information. The company owns and operates 18 daily newspapers, 127 non-daily newspapers, 237 websites, 38 smart phone and digital applications and 19 mobile sites. Journal Register serves customers in Philadelphia, Detroit, Cleveland, and the Saratoga and Mid-Hudson regions of New York State. The company maintains corporate headquarters in New York and Fairless Hills, PA (www.journalregister.com).

Alden Global Capital invests in US and foreign distressed securities as well as emerging market economies. The firm was founded in 2007 and has offices in New York, London, Dubai, Mumbai, New Jersey and Texas (www.aldenglobal.com).

SSG Capital Advisors (www.ssgca.com), a Philadelphia-based investment bank, acted as the exclusive investment banker and financial advisor to Journal Register Company.

© 2013 PEPD • Private Equity’s Leading News Magazine • 6-5-13

The Wicks Group of Companies Acquires McMurry and TMG Custom Media

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McMurry and TMG Custom Media, two content marketing companies, have merged to create the nation’s largest independent full-service content marketing agency. The Wicks Group of Companies has taken a majority ownership stake in the new company, which will be called McMurry/TMG.  On a combined basis, McMurry/TMG has annual revenues of approximately $100 million.

Content marketing is original content created and distributed by a brand (either in-house or through a third party). Unlike brand advertising, it is not overtly promotional and is designed to engage, rather than disrupt, the audience. Content marketing is disseminated through both print and digital media.

“This is a tremendous combination of talent and industry presence that we believe creates the largest and best positioned content marketing agency in the United States, if not the world,” said Dan Kortick, managing partner of The Wicks Group. “We are very proud to have brought these two visionary firms together with this transaction and are delighted to add them to our portfolio of sector leaders. Growth prospects for this corner of the marketing industry are very bright. We are confident that the management team in place at McMurry/TMG is well equipped to take advantage of the growing demand for content marketing.”

McMurry is a content marketing company that serves 150 of the Fortune 500.  The company helps brands in a variety of industries achieve business outcomes through the effective, multichannel use of content and services such as content strategy, content creation and content distribution.  The company was founded in 1984 and has nearly 200 employees.   McMurry has offices in New York and Phoenix (www.mcmurry.com).

TMG is a developer of content marketing strategies that utilize magazines, e-newsletters, websites, videos, white papers and social media. The company’s clients include major corporations, trade and professional associations, healthcare organizations, nonprofits and educational institutions. The company was founded in 1981 and is headquartered in Washington, DC, with an additional office in New York (www.tmgcustommedia.com).

Matt Petersen, formerly TMG Custom Media’s president, has been named the combined company’s CEO, and Fred Petrovsky, who had been McMurry’s president, is its COO. Keith Sedlak, who was senior vice president, client partnerships, at TMG, has been named chief revenue officer. Chris McMurry, former CEO of McMurry, and Jane Ottenberg and Richard Creighton, founders of TMG, retain a minority interest in the combined company and will continue to be involved.

“The joining of these two financially strong, growing and award-winning companies instantly positions McMurry/TMG as a content marketing industry heavyweight,” said Mr. Petersen. “Content is the new marketing currency and its importance continues to grow. Marketers are harnessing content’s ability to reach and engage key constituencies in a measurable way across a spectrum of online and offline platforms – from magazines and other content platforms to every type of digital, video, mobile, search and social media experience. The combined capabilities of these two long-time leaders in the field will be a compelling proposition to existing and potential clients.”

AMR International acted as a strategic advisor to The Wicks Group of Companies on the transaction.  AMR International is a strategy consultancy with offices in New York, London, Frankfurt, Paris and São Paulo. AMR specializes in B2B media and advises corporate and private equity clients on growth strategy and transaction support.  “AMR did a fantastic job. They combined strong industry knowledge with a rigorous approach which yielded some very important insights to our investment process. We would recommend them whole-heartedly,” said Thomas Kearney, Principal, Wicks Group of Companies.

McMurry and TMG were represented by The Jordan, Edmiston Group (www.jegi.com), a New York-based investment bank that specializes in the media, information, marketing services and technology industries.

The Wicks Group of Companies invests in lower-middle-market companies operating in select segments of the information, education and media industries principally in the United States and Canada.  Since its founding in 1989, Wicks has invested over $1 billion of capital in 28 platform companies and approximately 100 add-on acquisitions.  The firm is based in New York (www.wicksgroup.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 2-6-13

Corinthian Capital Exits AVL Digital Group

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Corinthian Capital Group has completed the sale of its portfolio company AVL Digital Group, a self-publishing and distribution platform for independent content creators, to Stephens Capital Partners.

AVL Digital Group is a self-publishing and distribution platform for independent content creators such as musicians, filmmakers and authors, as well as a wide range of institutional clients.  The company’s multi-channel marketing model includes social marketing, web search optimization, email and catalog marketing.  Brands include CD Baby, HostBaby, Disc Makers, and BookBaby. The company is based in Pennsauken, NJ (www.cdbaby.com), (www.hostbaby.com), (www.discmakers.com), and (www.bookbaby.com).

Corinthian Capital supported management’s multi-brand strategy and helped transition a company known for providing CDs and DVDs to its clientele into an integrated provider of both physical media and digital services to a growing market of independent musicians, filmmakers, authors, and corporate clients.  AVL Digital Group accomplished this through strategic acquisitions and through numerous organic growth initiatives.  In 2012 the company released over 60,000 disc titles, and distributed over 110,000 titles digitally, with a total catalog under management of 4.5 million songs.

“Corinthian Capital was a great partner, encouraging us to leverage our leadership position in the independent music market to significantly expand our service offering,” said Tony van Veen, CEO of AVL Digital Group.  “Through their support, we were able to strategically position the company to achieve significant growth, while delivering affordably priced manufacturing and distribution services to hundreds of thousands of musicians and authors.”

Corinthian Capital invests in niche manufacturing, distribution, and service businesses with EBITDAs between $10 million and $30 million located primarily in North America.  Corinthian Capital is based in New York with offices located in Chicago and Boston (www.corinthiancap.com).

“The sale of AVL Digital caps a banner year for Corinthian, during which we completed 11 transactions, including the successful exit of two investments, four platform acquisitions, and five add-on investments to existing portfolio companies,” said Peter Van Raalte, CEO of Corinthian Capital.

The buyer of AVL Digital Group, Stephens Capital Partners, is the private equity arm of financial services firm Stephens, Inc.  The firm is based in Little Rock, AR (www.stephens.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 1-23-13

Rockbridge Growth Equity Acquires Triad Retail Media

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Rockbridge Growth Equity has acquired Triad Retail Media, an operator of digital retail media programs. Falcon Investment Advisors partnered with Rockbridge on the transaction.

Triad was previously owned by H.I.G Growth Partners, CEO and founder Greg Murtagh, and COO and President Roger Berdusco.  Following the transaction, Messrs. Murtagh and Berdusco will remain in their current positions as chief executive officer and chief operating officer of Triad, and will also continue to be equity partners with Rockbridge.

Triad Retail Media creates, manages and operates digital retail media programs for highly-trafficked retail websites.  Triad’s retail partners include Walmart, Sam’s Club, eBay, Toys“R”Us, CVS, and other leading retailers.  Triad has more than 300 employees in more than six offices in the United States, including Tampa, FL (headquarters); Orlando, FL; Rogers, AR; Chicago, IL; New York, NY; and San Jose, CA (www.triadretail.com).

New York based investment bank Petsky Prunier (www.petskyprunier.com) served as the exclusive financial advisor to Triad Retail Media.  Petsky Prunier’s team was led by Sanjay Chadda, Michael Petsky, and Matthew Kratter.

Rockbridge Growth Equity invests in business and technology services companies focused on the digital media, marketing services, financial and business services, and consumer-direct marketing sectors.  The firm is located in Detroit, MI (www.rbequity.com).

Falcon Investment Advisors specializes in providing from $10 million to $75 million of subordinated debt and other junior capital to support management or leveraged buyouts, growth or acquisition capital, dividend recaps, generational transfers, structured finance and restructurings.  Since its founding in 2000, Falcon has raised $1.7 billion and invested in more than 50 companies in a range of industries.  The firm has offices in Boston and New York (www.falconinvestments.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 1-14-13

Baird Invests in PARTNERS+simons

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Baird Capital Partners has made an investment in PARTNERS+simons, a brand communications company.

The investment by Baird Capital Partners will enable PARTNERS+simons to expand on its current services and build or acquire additional capabilities in public relations, direct-to-consumer marketing, data-driven analytics and CRM, social media, mobile and tablet applications, and patient engagement.

PARTNERS+simons is a brand communications company in the health, financial services and technology sectors.  Services include digital and traditional communications, paid and social media, rich media advertising (digital interactive media), mobile applications, direct mail, TV advertising, online video, widgets and social networking. The company was founded in 1989 and is based in Boston (www.partnersandsimons.com).

Baird Capital Partners invests in lower middle-market companies in the manufactured products, healthcare and business services sectors. The firm invests from $15 million to $35 million in companies with enterprise values of $25 million to $125 million and EBITDAs greater than $5 million. Baird Capital Partners was founded in 1989 and is based in Chicago, IL (www.bairdcapitalpartners.com).

© 2012 PEPD • Private Equity’s Leading News Magazine • 11-28-12

OMERS Private Equity Exits Cookie Jar Entertainment

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DHX Media, a producer, distributor and licensor of children’s entertainment content, has acquired Cookie Jar Entertainment, a provider of children’s entertainment products and a portfolio company of OMERS Private Equity.

Cookie Jar creates, produces and markets animated and live-action children’s programming. Its library of nearly 6,000 half-hour episodes of television features some of the world’s most recognizable series including Caillou, Inspector Gadget, Arthur, The Doodlebops and Johnny Test. The company controls Cookie Jar TV, the weekend morning block on CBS, and has a one-third interest in international children’s television channel KidsCo. Cookie Jar had approximately $57 million in revenue for the 12 months ending May 31, 2012. The company is based in Toronto (www.cjar.com).

DHX Media is a leader in the creation, production and licensing of family entertainment rights. DHX Media owns, markets and distributes over 8,000 half hours of children’s entertainment content, and exploits owned properties through its consumer products licensing business. The company is recognized for brands such as Caillou, Busytown Mysteries, Inspector Gadget, Johnny Test, Animal Mechanicals, Kid vs. Kat, Super WHY!, Rastamouse, and Yo Gabba Gabba. DHX Media has offices in Toronto, Los Angeles, Vancouver, Halifax, London, Paris, Barcelona, Lisbon, Milan, Munich, and the Netherlands (www.dhxmedia.com).

OMERS Private Equity manages the private equity activities of OMERS, one of Canada’s largest pension funds. The group’s investment strategy includes the active ownership of businesses in North America and Europe. Sectors of interest include manufacturing, financial and business services, industrial and consumer products, transportation, and technology. Investment sizes range from $100 million to $500 million. The firm is located in Toronto with offices in New York and London and has $6.5 billion of investments under management (www.omerspe.com).

© 2012 PEPD • Private Equity’s Leading News Magazine • 10-30-12