Beekman said Wednesday that it has acquired “select assets” of out-of-home advertising firm Brite Media. No financial terms were disclosed.
NEW YORK–(BUSINESS WIRE)–Beekman Investment Partners II, LP (“Beekman”) today announced that an affiliate has acquired select assets of Brite Media, LLC (“Brite Media” or the “Company”), a leading out-of-home advertising company focused primarily on “hand-delivered” marketing messages with high consumer engagement. Brite Media, a company with offices in New York, San Francisco, Los Angeles, Dallas and Reno, manages a nationwide network of retail partners for advertising products such as coffee-sleeves and “cash jackets” which are distributed through over 14,000 locations throughout the U.S. and Canada. Through its Industry Partner model, Beekman is pursuing this transaction in partnership with an experienced media executive with over 20 years of experience in the out-of-home advertising industry.
Brite Media’s unique media products enable advertisers to reach consumers effectively, cost-efficiently, and in an engaging way in everyday experiences and settings. The advertiser’s messages have a high dwell time and travel with the consumer, which reinforces the message and provides additional exposure. The Company’s exclusive, nationwide contracted networks of venues reach consumers in top media markets at a time when they are making purchasing decisions. The networks also can be segmented to target specific DMAs, demographics, products or types of consumers, and the Company’s flexible production allows advertisers to design specialized messages and update content frequently. The products and networks also serve as valuable distribution points for sampling and couponing, and are often paired with digital marketing campaigns.
“Brite Media is a unique platform in the out-of-home advertising market that is at an inflection point in its history. We are excited to partner with the Beekman team to accelerate the Company’s growth and to enter new markets,” commented Bruce Friedman, the co-founder of Brite Media, who will remain an investor, board member and advisor to the Company.
Andrew Brown, Beekman’s Managing Director, added, “The Beekman team identified outdoor advertising as an attractive industry segment and has evaluated numerous opportunities in the sector over the last two years. Brite Media represents a compelling platform investment opportunity in the out-of-home advertising segment and we are excited to partner with Bruce and the Brite Media management team to continue the growth in the business.”
Brite Media is the fifth investment in Beekman’s second private equity fund, which is focused on investing in lower middle-market companies in services sectors and partnering with management to accelerate growth and value creation.
About The Beekman Group
The Beekman Group is a leading private equity firm, based in New York, dedicated to bringing financial and operational resources to lower middle-market companies. Beekman’s team consists of experienced private equity professionals, as well as a select group of Industry Partners, who are leading executives in Beekman’s targeted industry segments. This Industry Partner approach to investing is the cornerstone of Beekman’s investment strategy — creating value through accelerating growth in partnership with small and middle-market management teams. For more information, please visit www.thebeekmangroup.com.
About Brite Media, LLC
Brite Media, LLC is a leading specialty out-of-home advertising company with exclusive contracted ad networks focused on one-to-one and hand-to-hand marketing, reaching people when they are on the go and most likely to make purchase decisions. Brite Media’s management team is comprised of industry veterans with significant experience in advertising and operations. The company has five offices nationwide including a manufacturing facility in Reno, NV that produces more than 240 million coffee sleeves per year. For more information, please visit www.britemedia.com.