dmg world media (www.dmgworldmedia.com), a division of Daily Mail & General Trust plc (DMGT), has sold its portfolio of 38 North American consumer home shows to Marketplace Events LLC. Marketplace Events is a portfolio company of Stephens Capital Partners LLC, an affiliate of Stephens Inc. (www.stephens.com), a privately held investment bank in Little Rock, Arkansas. This DMGT portfolio comprises consumer home shows in 27 cities across the US and Canada. The deal is valued at $53 million.
JEGI CLARITY (www.jegiclarity.com), the leading provider of independent investment banking services for media, information, marketing services and related technologies, represented dmg world media in this transaction and acted as its exclusive financial advisor.
“We are very pleased with the outcome of this sale, as we were able to find a great buyer at the right price,” said Mike Cooke, Chief Executive Officer, dmg world media.
The 2008 schedule of shows will take place as planned. All current employees in this group will go with the shows to form the new business.
“The home shows were a significant reason for dmg world media’s entry into the North American market in the first place, and we have all enjoyed building the business to where it is today,” said Michael Franks, Chief Operating Officer, dmg world media. “The same fantastic management and staff now have the opportunity to run it as a stand alone business. I wish them every success in the future and would like to recognize and thank them for their help and support during the past 12 years.”
dmg world media hired JEGI and announced its intention to sell its North American consumer home shows toward the end of 2007. Mark Alcock, Deputy CEO, dmg world media, commented, “Once again, JEGI’s team of bankers delivered outstanding results for dmg, providing sound advice and counsel on this transaction. The team was tenacious, efficient, and added value through each step of the process. We fully appreciate JEGI’s commitment to excellence, while working on our behalf.”
Once again, JEGI CLARITY’s team of bankers delivered outstanding results for dmg, providing sound advice and counsel on this transaction. The team was tenacious, efficient, and added value through each step of the process. We fully appreciate JEGI CLARITY’s commitment to excellence, while working on our behalf.Mark Alcock, Deputy CEO, dmg world media