Boyne has acquired Fort Atkinson, Wisconsin-based AC Business Media, a B2B media and business intelligence company. No financial terms were disclosed. Corporate Solutions provided financial advice to AC Business Media on the transaction. And, J2advisors was lead counsel to Boyne on the deal while Downs Rachlin Martin PLLC served as lead counsel to ACBM.
MIAMI, Aug. 30, 2018 /PRNewswire/ — Boyne Capital (“Boyne” or the “Firm”) is pleased to announce that it has partnered with management to acquire AC Business Media, Inc. (“ACBM” or the “Company”), a leading business-to-business media and business intelligence company with a portfolio of renowned brands in heavy construction, asphalt, concrete, paving, equipment rental, landscape, manufacturing, logistics and supply chain, and digital and data-driven marketing verticals.
Headquartered in Fort Atkinson, Wisconsin, AC Business Media delivers relevant, cutting-edge content to its audiences through industry-leading digital properties, trade shows, videos, magazines, webinars, and newsletters. The Company provides advertisers the analytics, data, and ability to reach and engage with their target audiences.
AC Business Media also introduces new leadership into the CEO role with the addition of Barry Lovette, a 20-year industry veteran with a deep understanding as to the needs of ACBM’s customers. Lovette comes equipped with a clear vision to enhance AC Business Media’s platform and offerings, as well as its customers’ return on investment.
Regarding the transaction, Lovette said, “AC Business Media is a market leader that is poised for future growth. By partnering with Boyne, AC Business Media will be able to continue investing in its products and capabilities and significantly enhance our ability to provide great value to our customers.”
Derek McDowell, CEO and Managing Partner of Boyne said, “AC Business Media is a leader in construction media with a portfolio of brands unmatched in the industry. We are pleased to be partnering with Barry Lovette and AC Business Media’s long-tenured management team to grow the Company by expanding its already substantial audience and capabilities.”
Prior Chairman, Anil Narang, and CEO, Carl Wistreich, sold their majority stake in the Company to Boyne, but remain minority owners. On the new partnership, Narang and Wistreich said: “We are excited to partner with Boyne and Barry. We are confident that they will take the best team in the industry and AC Business Media’s outstanding customers to new heights.”
Corporate Solutions of Westport, Connecticut, acted as financial advisor to AC Business Media. J2advisors acted as lead counsel to Boyne. Downs Rachlin Martin PLLC acted as lead counsel to AC Business Media.
About Boyne Capital
Boyne Capital is a Florida-based private equity firm focused on investments in lower middle market companies. Founded in 2006, Boyne has successfully invested in a broad range of industries, including healthcare services, consumer products, niche manufacturing, and business and financial services among others. Beyond financial resources, Boyne provides industry and operational expertise to its portfolio companies and partners with management to drive both company performance and growth. Boyne specializes in providing the capital necessary to fund corporate growth and facilitate owners and shareholders’ partial or full exit.