Target: New Track Media
Price: $60 million to $70 million
Sponsor: BV Investment Partners
Financial Adviser: Petsky Prunier
BV Investment Partners has put New Track Media up for sale, three sources told sister Web site peHUB. The investment bank Petsky Prunier is advising on the auction.
New Track, of Cincinnati, publishes magazines and Web sites that cater to special interest subjects like woodworking, crafts and astronomy. Magazines include American Woodworker, Sky & Telescope and Fons & Porter’s Love of Quilting, which also has a TV show. New Track produces about $8 million to $9 million EBITDA and was expected to fetch roughly $60 million to $70 million.
It’s unclear what the status is of the process. Two sources told peHUB that New Track has been up for sale since the fall and the auction has stalled. Executives at BV declined comment.
Founded in 1983, BV Investment Partners is the buyout firm formerly known as Boston Ventures. Boston Ventures changed its name to BV Investment Partners in 2010.
BV invests in information and business services, communications, publishing and media, according to the firm’s Web site. BV invested in New Track Media in 2006 when the firm partnered with Steve Kent, who was F+W Publications’ president and CEO.
Luisa Beltran is a senior writer for peHUB.