- The transaction is expected to close within approximately 30 days
- OEP is a middle-market private equity firm focused on the industrial, healthcare, technology, and media sectors in North America and Europe
- Founded in 2001, OEP spun out of JP Morgan in 2015
One Equity Partners has agreed to purchase CoxReps and Gamut from Cox Media Group. No financial terms were disclosed.
CoxReps is a national television representation company and Gamut is a local OTT media company.
The transaction is expected to close within approximately 30 days.
Latham & Watkins represented OEP on the transaction. Progress Partners served as financial advisor to Cox Media Group and Terrier Gamut Holdings, and the companies were represented on the transaction by Perkins Coie LLP and Fenwick & West, with Morgan Lewis & Bockius LLP serving as special regulatory counsel.
On the deal, Andrew Dunn, managing director of OEP, said in a statement: “OEP is thrilled to begin its investment partnership with these two superb teams leading two companies at the forefront of the television advertising and digital streaming industries. While both CoxReps and Gamut are leaders in their respective markets, and will continue to operate as sibling companies, we expect to foster even greater collaboration between them, increasing the flow of advertising dollars into local video.”
OEP is a middle-market private equity firm focused on the industrial, healthcare, technology, and media sectors in North America and Europe. It has about $10 billion in assets under management. Founded in 2001, OEP spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam.
Cox Media Group provides local content to viewers in the communities in which it serves. CMG’s portfolio includes primary affiliates of ABC, CBS, FOX, NBC, Telemundo and MyNetworkTV, as well as several valuable news and independent stations