Shamrock Capital has put Media Storm on the block, several sources say. Media Storm, with offices in South Norwalk, Conn. and New York, is a strategic media agency for the entertainment industry. Clients include Sony, Magnolia Pictures, MLB Network and About.com, according to the company’s web site.
“[Media Storm] has been on the market for a long time,” one banker says.
Craig Woerz and Tim Williams founded Media Storm in 2001. In 2009, Los Angeles-based Shamrock invested in the company. It’s unclear how big Shamrock’s stake is but the PE firm typically puts in from $10 million to $50 million equity per deal. Shamrock focuses on lower middle market companies in media, entertainment and communications. In July, Shamrock raised $400 million with its third fund.
Media Storm has reportedly increased billings by 150% to about $500 million in the past two years, according to a January story in AdWeek.
TZP Group, a lower middle market PE firm, is supposedly bidding for Media Storm, but it’s unclear whether they are the “ultimate buyer,” another banker says.
A TZP official said the PE firm does not comment on speculation. Shamrock Capital and Media Storm couldn’t be reached for comment.