Halyard Capital and Steelpoint Capital have sold Women’s Marketing Inc. to PNC Riverarch, a private equity unit of Pittsburgh-based PNC Financial Services Group. No financial terms were disclosed. Jordan, Edmiston Group advised WMI and its sellers on the transaction. With offices in Connecticut and New York City, WMI is a provider of media strategy, planning and buying solutions for emerging brands targeting women.
NEW YORK, Feb. 12, 2014 — /PRNewswire/ — Today, Halyard Capital, a New York-based private equity fund, Steelpoint Capital, a San Diego-based private equity fund, and other co-investors announced the sale of their portfolio company, Women’s Marketing Inc. (“WMI”), to PNC Riverarch, a private equity arm of Pittsburgh-based PNC Financial Services Group Inc. No financial terms were disclosed.
Halyard Capital acquired a controlling interest in WMI in 2005, and helped the company expand from its core emphasis on beauty and fashion brands into the health, food and beverage industries. Halyard also helped WMI build a fast-growing digital and mobile media presence, complementing WMI’s continued strength in print media, where it is the third-largest magazine advertiser in the U.S. In addition, Halyard strengthened WMI’s leadership team through the addition of CEO Bonnie Kintzer, who will remain in her current role following the transaction.
“For the past 8 years, Halyard’s resources and commitment to WMI have provided a critical platform for our success. Our ability to rely on their knowledge of the media space, extensive network of industry experts and financial support has been integral to the successful repositioning of our business,” said Bonnie Kintzer, CEO of WMI. “The evolving media landscape is providing many exciting opportunities, and we look forward to continuing to pursue them with our new partners.”
“It has been very rewarding to help WMI successfully navigate the rapidly shifting media landscape through such turbulent economic times,” said Robert B. Nolan, Jr., Managing Partner of Halyard Capital. “We’re confident that the strong leadership team currently in place will continue to bring further growth and prosperity to WMI as they embark on this new chapter.”
Founded in 1982 in Westport, CT, WMI is the leader in media strategy, planning and buying for emerging brands targeting women. WMI leverages its media purchasing volume to enable these emerging brands to compete against more established category leaders. The company currently has offices in Westport and Manhattan, employing more than 45 staff who serve 260 clients annually.
WMI and the Selling Group were represented by investment bank Jordan, Edmiston Group Inc., which served as the exclusive financial advisor on the transaction. Finn Dixon & Herling LLP provided legal counsel to the sellers. Cohen & Grigsby, P.C. provided legal counsel to PNC Riverarch.
About Halyard Capital
Halyard is a private equity firm with over $600 million of capital under management, focused on creating value within the Information and Knowledge economies through its thesis-driven investments. Halyard invests in technology-enabled Information, Data Analytics, Communications and Business Services companies that cater to industries including Healthcare, Education, Marketing Services, Human Capital Management and Media.
The Firm specializes in growth equity, middle-market leveraged buyouts and structured equity investments. Halyard invests in and works closely with exceptional management teams in companies with superior market positions which generate strong cash flow and operate in attractive growth markets.
About Women’s Marketing Inc.
Women’s Marketing Inc. (“WMI”) is the leader in media strategy, planning and buying for emerging and re-emerging brands. WMI works with approximately 260 companies delivering compelling value through its aggregated buying power, longstanding track record and knowledge of how to best use media to target women and drive purchase. WMI has proprietary relationships with key influencers in the prestige beauty, health and fashion arena providing optimal solutions to brands targeting women.
About Steelpoint Capital
Steelpoint Capital invests in growing consumer companies in the health, wellness and fitness sectors. Headquartered in San Diego, CA, Steelpoint looks to partner with companies that possess authentic brands and clear opportunities for growth. Steelpoint’s team draws on extensive operating and investment experience to provide value-added support to portfolio companies and their management teams.
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