Bisnow, North America’s leading producer of commercial real estate news and events announced that New York-based investment firm, The Wicks Group, acquired the company. Terms of the transaction were not disclosed.
JEGI CLARITY (www.jegiclarity.com), the leading independent investment bank for the global media, information, marketing, software and tech-enabled services sectors, headquartered in New York, NY, represented Bisnow in this transaction.
Bisnow, a leading digital media outlet for commercial real estate news, produces almost 300 industry events across more than 30 metro markets.
Bisnow is known for its insightful, snappy, and lively approach to commercial real estate events, which are led by leading industry speakers and typically focused on top-of-mind subjects in hyper-local geographies. The events provide a high-touch forum for their attendees to network with peers and learn from leading minds.
Commenting on the transaction, Bisnow CEO, Will Friend, said, “We are excited to begin our partnership with Wicks. We are pleased to have a partner that shares our vision and an appreciation for the culture, processes, people, products and customer value that we’ve built. We’re eager to continue building our track record of excellence and expanding our product offering both here in the United States and later this year overseas.
“Bisnow is a clear leader in commercial real estate digital media and events and is a highly valued provider to its attendees and sponsors,” said Daniel M. Kortick, Managing Partner of Wicks. “We believe the organic growth opportunity is compelling, and we look forward to working with Will and the rest of the Bisnow team to support the next phase of the company’s development.”
The transaction closed on April 29. Arent Fox served as legal counsel to the company. Morgan, Lewis & Bockius served as legal counsel to Wicks.
We began this process with an ambitious management team, but we lacked experience in an auction. We chose JEGI CLARITY, because we wanted a partner that could help us navigate the unfamiliar waters of the process and also be fully appreciative of our unique entrepreneurial approach. JEGI CLARITY did a fantastic job guiding us through the auction and was instrumental in finding a partner who shared our vision and strategy for Bisnow’s next stage of growth. We could not be happier to have partnered with The Wicks Group of Companies and had a great time working with the JEGI CLARITY team throughout.
Will Friend, CEO, Bisnow