M&A Deal Summary

Gannett Acquires Halifax Media Group

On January 12, 2015, Gannett acquired media company Halifax Media Group from Advantage Capital Partners and Stephens Capital Partners

Acquisition Highlights
  • This is Gannett’s 3rd transaction in the Media sector.
  • This is Gannett’s 4th transaction in the United States.
  • This is Gannett’s 1st transaction in Florida.

M&A Deal Summary

Date 2015-01-12
Target Halifax Media Group
Sector Media
Buyer(s) Gannett
Sellers(s) Advantage Capital Partners
Stephens Capital Partners
Deal Type Add-on Acquisition

Target

Halifax Media Group

Daytona Beach, Florida, United States
Halifax’s strategy is to invest long-term capital in quality companies positioned in strong markets that are closely connected to the community. Our expectation is to invest for the long term.

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Buyer(S) 1

Buyer

Gannett

McLean, Virginia, United States

Category Company
Founded 1997
Sector Publishing
Employees12,800
Revenue 2.5B USD (2024)
DESCRIPTION

Gannett is a subscription-led and digitally focused media and marketing solutions company committed to empowering communities to thrive. The company's portfolio includes USA TODAY, local media organizations in 46 states in the U.S., and Newsquest, a wholly-owned subsidiary with over 120 local media brands operating in the United Kingdom. It also owns the digital marketing services companies ReachLocal, Inc., UpCurve, Inc., and WordStream, Inc., and runs the largest media-owned events business in the U.S., USA TODAY NETWORK Ventures. Gannett was founded in 1997 and is based in McLean, Virginia.


DEAL STATS #
Overall 4 of 16
Sector: Media M&A 3 of 7
Type: Add-on Acquisition M&A Deals 3 of 10
State: Florida M&A 1 of 1
Country: United States M&A 4 of 16
Year: 2015 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-02 The Progress-Index

Petersburg, Virginia, United States

Buy $15M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-19 Stephens Media

Las Vegas, Nevada, United States

Stephens Media LLC is a newspaper publisher operating eight daily newspapers, over 65 weekly and niche publications, and more than 50 websites serving communities throughout the United States.

Buy $103M

Seller(S) 2

SELLER

Advantage Capital Partners

New Orleans, Louisiana, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1992
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Advantage Capital Partners is a private equity firm focused on providing growth capital to a variety of companies. The Firm's geographic coverage includes Alabama, Colorado, Florida, Hawaii, Louisiana, Mississippi, Missouri, New York, Texas, Wisconsin and Washington DC. Advantage looks to initially commit $0.5 to $2 million per investment and can provide mezzanine debt in addition to equity capital. Areas of interest include communications, information technology, life science, and energy. Advantage Capital was formed in 1992 and is headquartered in New Orleans, Louisiana.


DEAL STATS #
Overall 59 of 113
Sector: Media M&A 3 of 3
Type: Add-on Acquisition M&A Deals 30 of 66
State: Florida M&A 5 of 6
Country: United States M&A 59 of 113
Year: 2015 M&A 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Arcobasso Foods

Hazelwood, Montana, United States

Arcobasso Foods, Inc. is a developer of custom sauces, dressings and beverages and bottling and packaging them in a variety of forms and sizes. Arcobasso Foods was founded in 1986 and is based in Hazelwood, Montana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-23 Shape

Addison, Illinois, United States

Shape is a designer and manufacturer of custom magnetic products. Shape specializes in the production of large transformers with rated wattage above 250 watts, which are used in airport lighting, airport security systems, ultraviolet curing, water sanitation, telecom equipment and other niche applications. Shape was founded in 1966 and is based in Addison, Illinois.

Buy -
SELLER

Stephens Capital Partners

Little Rock, Arkansas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Stephens Capital Partners is the direct, private equity investment arm of financial services firm Stephens, Inc. Stephens Capital looks to acquire minority or majority stakes in mid-sized, profitable companies in partnership with management. The Firm will consider opportunities throughout the US valued between $50 and $200 million. Stephens Capital will not consider venture investments or turnaround situations. Stephens Capital Partners is based in Little Rock, Arkansas.


DEAL STATS #
Overall 19 of 42
Sector: Media M&A 1 of 4
Type: Add-on Acquisition M&A Deals 10 of 21
State: Florida M&A 3 of 4
Country: United States M&A 19 of 40
Year: 2015 M&A 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Hargray Communications Group

Hilton Head, South Carolina, United States

Hargray Communications Group, Inc. is a telecommunications provider serving southeastern South Carolina and northeastern Georgia. The company's operations include traditional telephone carrier services, internet services, cable television, wireless telephone, and a telephone directory publishing operation. Hargray Communications Group was founded in 1949 and is based in Hilton Head, South Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-19 Stephens Media

Las Vegas, Nevada, United States

Stephens Media LLC is a newspaper publisher operating eight daily newspapers, over 65 weekly and niche publications, and more than 50 websites serving communities throughout the United States.

Sell $103M