Investment Summary

Alta Equity Partners and Mercury Capital Partners Exits Inner City Broadcasting

On August 19, 2011, invested in media company Inner City Broadcasting from Alta Equity Partners and Mercury Capital Partners

Investment Highlights
  • This is transaction in the Media sector.
  • This is transaction in the United States.
  • This is transaction in New York.

Investment Summary

Date 2011-08-19
Target Inner City Broadcasting
Sector Media
Sellers(s) Alta Equity Partners
Mercury Capital Partners
Deal Type Bankruptcy

Target

Inner City Broadcasting

New York, New York, United States
ICBC Broadcast Holdings, Inc., the second largest radio broadcasting company in the U.S. that primarily targets urban markets. The company owned and operated 17 radio stations.

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Seller(S) 2

SELLER

Alta Equity Partners

Concord, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
Size Small
Type Sector Agnostic
DESCRIPTION

Alta Equity Partners is a private equity firm focused on acquiring lower middle-market, US-based companies. The Firm is a generalist investor but targets companies exhibiting recurring revenue business models, low capital intensity, proven management, and opportunities for growth. Prospective transaction situations of interest include recapitalizations, management buyouts, divestitures, and special situations. Alta Equity Partners was formerly known as Alta Communications. Alta Communications was formed in 1989 and the Firm changed its name to Alta Equity Partners in 2010. Alta Equity Partners is based in Concord, Massachusetts.


DEAL STATS #
Overall 39 of 45
Sector: Media M&A 16 of 19
Type: Bankruptcy M&A Deals 2 of 3
State: New York M&A 2 of 5
Country: United States M&A 37 of 43
Year: 2011 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-29 Diveo Broadband Networks

Ft. Lauderdale, Florida, United States

Diveo Broadband Networks is a leading local broadband and data center solutions provider for corporate customers in Brazil and Colombia. The Company works together with its customers to develop made-to-fit, integrated solutions to satisfy dynamic, complex business needs.

Sell R$694M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-22 Inner City Broadcasting

New York, New York, United States

Inner City Broadcasting Corp. is a radio broadcasting company.

Sell -
SELLER

Mercury Capital Partners

Buffalo, New York, United States

Investor Investor


Category Private Equity Firm
Founded 2000
Size Small
Type Sector Focused
DESCRIPTION

Mercury Capital Partners (MCP) is a private equity firm that targets investments in the media, communications, and entertainment industries. Specific areas of interest include radio, cable television, broadcast towers, suburban newspapers, event marketing, concert entertainment, major league sports broadcast rights, and internet media. MCP will consider both controlling and non-controlling positions. Prospective companies generally have proven management, predictable and growing earnings, and assets with 'strong franchise values'. Mercury Capital Partners was formed in 2000 and is based in Buffalo, New York.


DEAL STATS #
Overall 2 of 4
Sector: Media M&A 2 of 2
Type: Bankruptcy M&A Deals 1 of 1
State: New York M&A 1 of 1
Country: United States M&A 2 of 4
Year: 2011 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-19 Millennium Radio Group

Trenton, New Jersey, United States

Millennium Radio Group - The Millennium Radio Group is a joint venture with two other private equity funds, UBS Capital Americas, based in New York City, and Alta Communications, based in Boston, MA. Millennium has made five different acquisitions in New Jersey to create a single radio cluster serving the entire state. As a result, Millennium has created the first commonly owned media outlet that can truly deliver the entire state to advertisers, and as a result, has created the fourth largest radio market in the U.S. Visit New Jersey 101.5.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-18 Three Rings Design

San Francisco, California, United States

Three Rings Design, Inc. is an online casual game developer.

Sell -