05/21/2003 - CurtCo Media Forms $100
Million Acquisition Vehicle with Weston Presidio
and TD Capital
Proceeds Represent the First Round
in a Pool Dedicated to Magazine Acquisitions and
Launches Within Sister Company CurtCo Publishing
MALIBU, CA (May 21, 2003) – CurtCo Media,
in conjunction with private equity firms Weston
Presidio Capital Management and TD Capital Communications
Partners, today announced the closing of a $100
million equity investment which will be utilized
for acquisitions and launches, building on CurtCo’s
success with the Robb Report brand.
The transaction, which inaugurates a new partnership
between CurtCo and lead financial sponsor Weston
Presidio, is designed to facilitate acquisitions
and launches of consumer and business-to-business
publications, as well as related products, serving
the luxury market. It also furthers CurtCo’s
objective of acquiring and developing vertical
titles within the industry categories addressed
by Robb Report, a goal that was established with
CurtCo’s acquisition of the title in June
2001.
“We are very pleased with the progress
that the Robb Report franchise has made since
our acquisition almost two years ago,” stated
CurtCo Media Group Chief Executive Officer William
J. Curtis. “As the number one ‘super-luxury’
publishing brand, the Robb Report, and its sister
titles Robb Report Collection and Robb Report
Home Entertainment & Design, have enjoyed
remarkable growth, success and profitability,
even during these difficult times. We have a truly
exceptional team here at CurtCo. Their expertise,
track record and personal emotional investment
are clearly responsible for our ‘counter-market’
success.”
According to Mr. Curtis, the funding “represents
the first phase of CurtCo’s expansion plans,
which will be significantly enhanced through our
new partnership with Weston Presidio, one of the
country’s most highly regarded private equity
firms, and through our continued alliance with
TD Capital, who have been a pivotal factor in
our success to date.”
Weston Presidio General Partner James E. McElwee
said "the CurtCo opportunity has all of the
ingredients of our most successful investments
in the consumer category including an outstanding
management team, a proven economic model, and
an extremely attractive target market."
TD Capital’s Managing Director Stephen
A. Reinstadtler said: “We are excited to
continue our support of CurtCo’s management
team. Since the acquisition of Robb Report two
years ago, we have worked closely with this exceptional
group and they have demonstrated the ability to
build a world-class company. The additional capital
we are providing will enable CurtCo to further
develop the Robb Report franchise and secure their
position as a leading player in the luxury category.”
CurtCo Media
CurtCo Media is operated by CurtCo Media Labs,
which for more than two decades has built publishing
companies. CurtCo has launched or acquired 26
magazines during this period. In alliance with
TD Capital Communications Partners, CurtCo acquired
luxury lifestyle authority Robb Report in June
of 2001, and formed CurtCo Robb Media. CRM launched
The Robb Report Collection in January of 2002,
Robb Report Home Entertainment and Design in October
of 2002, redeveloped www.robbreport.com,
and maintains offices in Malibu, New York City
and Boston.
Weston Presidio Capital Management
Weston Presidio is a private equity firm managing
more than $2 billion in capital. The firm's partners
have led private investments in dozens of successful
companies in the consumer category including JetBlue,
Costco, Wild Oats Markets, Fender Guitar, Tweeter,
and the Boston Herald. The firm was founded in
1991 and the founding partners have been active
in the private equity industry since 1979.
TD Capital Communications Partners
TD Capital Communications Partners targets compelling
investment opportunities in the media, communications
and business services sectors in the United States,
with targeted commitment sizes from $10 to $30
million, investing at all stages. TD Capital Communications
Partners is an investment group of TD Capital.
Established more than 35 years ago, TD Capital
is the private equity arm of TD Bank Financial
Group. TD Capital has approximately $1.9 billion
of capital under management through its offices
located in Canada and the United States. For more
information on TD Capital and its investment groups,
go to www.tdcapital.com.
MEDIA CONTACT:
Jeff Perlman
Brandware Public Relations
office - 818.706.1915
cell - 818.317.3070
jperlman@brandwaregroup.com
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