Spire Capital said Monday that it has sold its portfolio company Just Marketing InternationaI to Chime Communications for $76 million. Rothschild served as financial advisor to JMI in the transaction. With offices in Indianapolis, London and Hong Kong, JMI is a motorsports-focused marketing firm.
NEW YORK, Nov. 4, 2013 /PRNewswire/ — Spire Capital is pleased to announce that JMI, a member of its Fund II portfolio, will be acquired in full by Chime Communications PLC through its subsidiary CSM Sport & Entertainment. In a transaction valued at $76 million, Spire’s five-year investment sees JMI becoming a wholly owned subsidiary of Chime Communications and in doing so, provides Chime with their first global motorsports presence.
Spire, along with the Indiana Investment Fund, purchased control of JMI in June 2008 with a focus on assisting JMI’s management team in leveraging its dominant marketing services presence in the motorsports industry. Spire’s focus was centered on operational and financial efficiency, international expansion and client diversification.
“I’m grateful to have had the opportunity to work with the entire team at Spire,” stated JMI CEO Zak Brown. “Their ability to provide strategic direction and guidance has played an essential part in JMI’s growth, development and expansion. Their expertise is unparalleled and they should be credited with the significant role they played in our success and the tremendous opportunity we now have with Chime. Without a doubt JMI wouldn’t have grown to where it is today without Spire’s guidance and support.”
Bruce Hernandez, Partner at Spire Capital and JMI’s Chairman of the Board commented: “I have thoroughly enjoyed working with Zak and the JMI team as they have grown into a truly global marketing services company. The company’s strategic, financial and operational growth has been tremendous over the last five years and I am proud to have played a supporting role in its success.”
Rothschild served as financial advisor to JMI and Dentons as legal counsel in this transaction.
About Spire Capital Partners
Founded in 2000, Spire Capital is an active and experienced private equity firm with an investment focus in companies within the business services, information services, media, education and communications sectors. Spire Capital leads buyout investments in its areas of expertise and believes its deep industry experience and network of relationships are invaluable in helping its portfolio companies to grow and succeed. Spire Capital has managed over $700 million in Private Equity commitments since its founding.
For more information please visit www.spirecapital.com.
JMI creates motorsports-focused marketing solutions for Global 1000 companies, leveraging its knowledge, relationships and expertise to deliver creative, customized programs for organizations that seek a differentiator through motorsports sponsorship to drive their business.
JMI is a full-service agency representing brands and corporations in all forms of premier motorsports worldwide. The agency operates from offices in Indianapolis, London and Hong Kong and services clients across global motorsports including Formula One™, NASCAR, IndyCar, the World Rally Championship, MotoGP, the FIA World Endurance Championship, NHRA, GRAND- AM and the American Le Mans Series.
JMI’s client list comprises leading corporations, brands and individuals such as Castrol, CLEAR, Crown Royal, DIAGEO, DIRECTV, Doug Yates, Farmers Insurance, GlaxoSmithKline, Hoosier Tire, Jeff Gordon, Inc, Johnnie Walker, John Force Racing, LG Electronics, LiftMaster®, Lucozade, Maximuscle, Mazda, PNC, POSITEC, Rexona, SUBWAY® Restaurants, UBS, Unilever, UPS and Verizon Wireless.