M&A Deal Summary

Somers Investment Partners and Blackstreet Capital Management Acquire Pennysaver

On January 14, 2010, private equity firms Somers Investment Partners and Blackstreet Capital Management acquired digital media company Pennysaver

Acquisition Highlights
  • This is Somers Investment Partners’ 1st and Blackstreet Capital Management’s 1st transaction in the Digital Media sector.
  • This is Somers Investment Partners’ 3rd and Blackstreet Capital Management’s 6th transaction in the United States.
  • This is Somers Investment Partners’ 1st and Blackstreet Capital Management’s 2nd transaction in Maryland.
Investment Fate
  • Pennysaver was sold to a strategic buyer in 2011.
  • Pennysaver was divested to a consortium of strategic buyers in 2018.

M&A Deal Summary

Date 2010-01-14
Target Pennysaver
Sector Digital Media
Buyer(s) Somers Investment Partners
Blackstreet Capital Management
Deal Type Buyout (LBO, MBO, MBI)

Target

Pennysaver

Hanover, Maryland, United States
Pennysaver, Inc. is a publisher of community-based, advertising supported, direct mail shoppers in the Baltimore-Washington metropolitan area. Pennysaver was founded in 1979 and is based in Hanover, Maryland.

Search 214,503 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 2

DESCRIPTION

Somers Investment Partners is a private equity firm focused on buyouts and build-ups of lower middle-market business service companies located in the US. Specific areas of interest within business services include marketing services, IT services, and information services. Somers Investment Partners looks to commit $10 to $50 million of equity capital per transaction in transactions valued up to $250 million. Target companies typically have EBITDA of at least $1 million. Somers Investment Partners was formed in 1999 and is based in Palm Beach, Florida.


DEAL STATS #
Overall 3 of 3
Sector: Digital Media M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 2
State: Maryland M&A 1 of 1
Country: United States M&A 3 of 3
Year: 2010 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-26 PrecisionIR Group

Richmond, Virginia, United States

PrecisionIR Group, Inc. is a provider of web-based communication solutions and online investor relations services to over 3,500 companies in 13 countries.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-12 Pennysaver

Hanover, Maryland, United States

Pennysaver, Inc. is a publisher of community-based, advertising supported, direct mail shoppers in the Baltimore-Washington metropolitan area. Pennysaver was founded in 1979 and is based in Hanover, Maryland.

Sell -
Buyer

Blackstreet Capital Management

Chevy Chase, Maryland, United States

Category Private Equity Firm
Founded 2003
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Blackstreet Capital is a private equity firm focused on control buyouts of under-performing corporate orphans with $25 to $150 million in revenue. Industries of interest include niche manufacturing, distribution, specialty retail, education and training, healthcare services and devices, and restaurants. Blackstreet invests up to $15 million of equity capital in businesses valued up to $75 million. Blackstreet's average holding period is three to five years. Blackstreet Capital(formerly Milestone Capital Management was founded in 2003 and is based in Bethesda, Maryland.


DEAL STATS #
Overall 21 of 38
Sector: Digital Media M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 13 of 20
State: Maryland M&A 2 of 3
Country: United States M&A 6 of 19
Year: 2010 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-04-01 GES International SA

France

GES was a group of plastic film printing companies that produced innovative packaging solutions for various industries. In December 2003, GES acquired the Breger group. Breger was a 110 year old company specialising in the heliogravure process for high quality/short runs, with strong market positions in specific niches of mainly food related packaging applications. Breger had developed a number of proprietary processes which it marketed under the brand names Variometal (metallised films), Holometal (incorporation of holograms) and Helio d'or (metallic colours)

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-01 Jackson & Perkins

Hodges, South Carolina, United States

Jackson & Perkins is a direct marketer and wholesaler of rose plants, other horticultural products, and home and garden decor. Jackson & Perkins was founded in 1872 and is based in Hodges, South Carolina.

Buy -