M&A Deal Summary

Searchlight Capital Partners Acquires Hemisphere Media Group

On May 9, 2022, private equity firm Searchlight Capital Partners acquired media company Hemisphere Media Group from InterMedia Partners

Acquisition Highlights
  • This is Searchlight Capital Partners’ 2nd transaction in the Media sector.
  • This is Searchlight Capital Partners’ 18th transaction in the United States.
  • This is Searchlight Capital Partners’ 1st transaction in Florida.

M&A Deal Summary

Date 2022-05-09
Target Hemisphere Media Group
Sector Media
Buyer(s) Searchlight Capital Partners
Sellers(s) InterMedia Partners
Deal Type Going Private
Advisor(s) Paul, Weiss, Rifkind, Wharton & Garrison (Legal)

Target

Hemisphere Media Group

Coral Gables, Florida, United States
website
Hemisphere Media Group is an operator of media company targeting the high growth Hispanic TV/cable networks business. Hemisphere owns and operates: Cinelatino, the leading Spanish-language movie channel available in more than 12 million homes in the U.S., Latin America and Canada; WAPA Television, Puerto Rico's leading broadcast station with the highest primetime and full day ratings in Puerto Rico; and WAPA America, the leading cable network targeting Puerto Ricans and other Caribbean Hispanics living in the U.S., with over 5 million U.S. subscribers. Hemisphere Media Group was founded in 2013 and is based in Coral Gables, Florida.

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Buyer(S) 1

Buyer

Searchlight Capital Partners

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2010
PE ASSETS 860M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Searchlight Capital Partners is a private investment firm founded in 2010. The Firm will invest across the capital structure, including equity and debt and will consider a variety of transaction situations, from simple to complex. Areas of focus include communications, media, information, IT services, business services, financial services, consumer services, consumer products, education, and industrial goods/services. The Firm will consider opportunities across North America and Europe. Searchlight Capital has offices in New York, London, and Toronto.


DEAL STATS #
Overall 33 of 38
Sector (Media) 2 of 2
Type (Going Private) 5 of 6
State (Florida) 1 of 1
Country (United States) 18 of 21
Year (2022) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-03 Ocean Outdoor

London, United Kingdom

Ocean Outdoor is an operator of premium digital Out-of-Home (OOH) advertising in the United Kingdom, the Netherlands, the Nordics, and Germany. The Company operates a portfolio of large-format marquee OOH assets, including some of Europe’s most iconic outdoor advertising locations such as The Piccadilly Lights and the IMAX in London. Ocean Outdoor was formed in 2004 and is based in London, United Kingdom.

Sell $580M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-01 Global Payments - Netspend Consumer Business

Atlanta, Georgia, United States

Netspend is a prepaid and debit card space serving millions of customers nationwide, processing hundreds of billions of dollars of cardholder purchases, and established the largest retail partner network with over 130,000 locations nationwide where consumers can load their prepaid and debit card products. Netspend’s consumer products are also available online via direct-to-consumer mobile and web channels.

Buy $1.0B

Seller(S) 1

SELLER

InterMedia Partners

New York, New York, United States

website


Category Private Equity Firm
Founded 1988
Size Small
Type Sector Focused
DESCRIPTION

InterMedia Partners is a specialist private equity firm that seeks investments in media and communications companies. Specific areas of interest include cable television, broadcast television, print, programming, and broadband opportunities. InterMedia targets situations requiring $50 to $100 million of equity capital. InterMedia Partners LP was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 8 of 8
Sector (Media) 7 of 7
Type (Going Private) 1 of 1
State (Florida) 1 of 1
Country (United States) 8 of 8
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-04 Soul Train Holdings

New York, New York, United States

Soul Train Holdings LLC is an owns the brand and all intellectual property associated with Soul Train including the entire Soul Train library. This totals more than 1,100 hours of R&B, soul, hip-hop, jazz, and gospel music artists.

Sell -