M&A Deal Summary

Cyrus Capital Partners Acquires NRG Media

On October 8, 2013, asset manager Cyrus Capital Partners acquired media company NRG Media from McCarthy Capital

Acquisition Highlights
  • This is Cyrus Capital Partners’ 1st transaction in the Media sector.
  • This is Cyrus Capital Partners’ 1st transaction in the United States.
  • This is Cyrus Capital Partners’ 1st transaction in Iowa.

M&A Deal Summary

Date 2013-10-08
Target NRG Media
Sector Media
Buyer(s) Cyrus Capital Partners
Sellers(s) McCarthy Capital
Deal Type Secondary Buyout

Target

NRG Media

Cedar Rapids, Iowa, United States
NewRadio Group, LLC and the radio assets of Waitt Media. The Company operates primarily in the Midwest and is designed to acquire stations in strong retail markets that have the ability to grow and provide a service to those markets.

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Buyer(S) 1

DESCRIPTION

Cyrus Capital is a New York based, privately held investment manager. Cyrus Capital invests throughout the capital structure of companies based in North America and Europe with focus on both asset protection and attractive returns. Cyrus Capital Partners was formed in 1999 and is based in New York City.


DEAL STATS #
Overall 1 of 1
Sector: Media M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: Iowa M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2013 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-03-10 Virgin America

Burlingame, California, United States

Virgin America, Inc. is a domestic airline serving the United States. Virgin America's fleet of 60 Airbus A319 and A320 aircraft have three classes of service, in-flight WiFi and power outlets on every flight, as well as personal, touch-screen seatback entertainment. The airline was established in 2004.

Sell -

Seller(S) 1

SELLER

McCarthy Capital

Omaha, Nebraska, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

McCarthy Capital is a private equity firm that seeks to invest in mid-to-late-stage companies. The firm looks for companies with revenue of at least $10 million and $3 million in operating profits. McCarthy will consider companies across a broad range of industries possessing significant growth opportunities through participation in growing markets, market share expansion, industry consolidation or innovative business strategies. McCarthy prefers to invest in the range of $5 and $125 million, and will take a minority or majority ownership stake in companies where management has material capital at risk. McCarthy Capital was founded in 1986 and is based in Omaha, Nebraska.


DEAL STATS #
Overall 7 of 28
Sector: Media M&A 1 of 1
Type: Secondary Buyout M&A Deals 3 of 8
State: Iowa M&A 1 of 2
Country: United States M&A 7 of 28
Year: 2013 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-03 MarketSphere Consulting

Kansas City, Missouri, United States

MarketSphere Consulting is a 'market-focused' business consulting firm with world-class industry consultants delivering innovative and value-generating solutions to help companies achieve their objectives.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-01 Vornado Air

Andover, Kansas, United States

Vornado is a manufacturer of branded room comfort appliances including a wide range of whole room air circulators, heaters, humidifiers and purifiers. Over the past decade, Vornado has grown into the leading manufacturer, marketer, and distributor of premium home comfort products in the U.S. and internationally, primarily under the Vornado brand, across the air circulator, heater, steamer, air purifier and humidifier product categories.

Sell -