Investment Summary

Somers Investment Partners and Blackstreet Capital Management Exits Pennysaver

On July 12, 2011, All Island Media invested in digital media company Pennysaver from Somers Investment Partners and Blackstreet Capital Management

Investment Highlights
  • This is All Island Media’s 1st transaction in the Digital Media sector.
  • This is All Island Media’s 1st transaction in the United States.
  • This is All Island Media’s 1st transaction in Maryland.
Investment Fate
  • Pennysaver was divested to a consortium of strategic buyers in 2018.

Investment Summary

Date 2011-07-12
Target Pennysaver
Sector Digital Media
Investor(s) All Island Media
Sellers(s) Somers Investment Partners
Blackstreet Capital Management
Deal Type Add-on Acquisition

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.

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Investor(S) 1

Investor

All Island Media

Hauppauge, New York, United States

Category Company
Founded 1958
Sector Marketing
DESCRIPTION

All Island Media is a publisher of free weekly shopping newspapers and related niche publications. All Island Media was formed in 1958 and is based in Hauppauge, New York.


DEAL STATS #
Overall 1 of 1
Sector: Digital Media M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Maryland M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2011 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-23 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 -

Seller(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 5
Sector: Digital Media M&A 1 of 1
Type: Add-on Acquisition M&A Deals 3 of 4
State: Maryland M&A 1 of 1
Country: United States M&A 3 of 5
Year: 2011 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-14 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-22 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.

Sell $3M
SELLER

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 15 of 26
Sector: Digital Media M&A 1 of 1
Type: Add-on Acquisition M&A Deals 4 of 10
State: Maryland M&A 2 of 3
Country: United States M&A 4 of 10
Year: 2011 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-21 Picture People

Plano, Texas, United States

Picture People currently has more than 170 company-owned portrait studios located in shopping malls operating in 33 states across the country. Picture People was founded in 1987 and is based in Plano, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-01 Distinctive Apparel International

Randolph, Massachusetts, United States

Distinctive Apparel International is an online and catalog retailer of women’s apparel marketed under the Chadwicks and Metrostyle brands. Distinctive Apparel International sells practical every day clothing (Chadwicks) as well as trendy and affordable clothing (Metrostyle) and targets women in their fifties. Distinctive Apparel International was founded in 2011 and is based in Randolph, Massachusetts.

Buy -