Northstar Travel Media (“Northstar” or “The Company”), the leading business-to-business information company serving the travel and meetings industries, has been acquired by The Wicks Group of Companies, LLC (“Wicks”). Wicks is a New York-based private equity firm that invests in the media, education, and information industries.
JEGI CLARITY (www.jegiclarity.com) of New York, NY, the leading independent investment bank for the media, information, marketing services, and technology sectors, represented Northstar Travel Media in this transaction and acted as its exclusive financial advisor.
Northstar Travel Media serves the retail travel, meetings and conventions, corporate travel management and incentive markets with leading brands, database-driven electronic publications , and online subscription services. The Company also produces more than 20 face-to-face events in the served markets of retail travel, corporate travel and the meetings industry.
“We are very impressed with the growth of Northstar Travel Media over the last few years during challenging economic conditions,” said Dan Kortick, a Managing Partner at Wicks. “The management team has done an excellent job of migrating its core business to an integrated information and marketing solutions company. We are excited about partnering with the current management team to continue to grow the Company through product development and strategic acquisitions.”
“We are very pleased to welcome Wicks as our new partner to provide the capital and investment experience to help Northstar achieve its full potential as an information company that serves one of the largest and most dynamic industries in the world: Global travel and tourism,” said Thomas Kemp, Chairman & CEO of Northstar Travel Media. “BV Investment Partners has been a great partner of the Company. Wicks possesses many of the same qualities as BV with their depth of experience and success investing in the media and information industries.”
“We are very pleased to complete the sale of Northstar to Wicks,” said Andrew Davis, Managing Director of BV Investment Partners. “The growth of the Company and the aggressive diversification of revenue channels the past few years created much interest among investors for Northstar. We congratulate Wicks on closing the transaction and partnering with a great management team to continue to grow the business.”
From top to bottom, the JEGI CLARITY team handled the Northstar Travel Media divestiture process flawlessly. Thorough, diligent, and highly professional, the team was fully committed to keeping the process on track and was available 24/7 to address any issue or roadblock that cropped up. JEGI CLARITY knows full well that there are no shortcuts on the road to finding maximum value in the marketplace, and we wouldn’t hesitate to give them another important assignment.
Andy Davis, Managing Director, BV Investment Partners