Fort Point Capital has completed the buy of Barrington Media Group in partnership with the company’s management team.
Barrington is a provider of technology-enabled marketing services with a focus on direct response advertisements in traditional media channels, including television, audio and direct mail. The company’s customers are active in the insurance, healthcare and consumer products and services sectors.
Connecticut-based Barrington was founded in 2003 by CEO Peter Stavisky and he continues to lead the business in partnership EVP Tim Weil and Fort Point. “I am pleased to partner with Fort Point and excited to embark on this new chapter for Barrington,” said Mr. Stavisky. “We believe Fort Point’s extensive background investing in tech-enabled business services combined with its history of partnering with management teams makes it an ideal fit for Barrington.”
“We are excited to partner with Peter Stavisky, Tim Weil and the rest of the management team to support the company’s next phase of growth,” said Christina Pai, a partner at Fort Point. “We believe Barrington’s expertise in direct response advertising, as well as its proprietary software and analytical capabilities, create tremendous ROI for its customer base. Furthermore, we believe the company will continue to benefit from its excellent reputation for customer service and the strong tailwinds in the direct response advertising channel.”
Boston-based Fort Point, founded in 2010, invests from $10 million to $30 million of equity in service-oriented, lower middle-market companies that have enterprise valuations of $20 million to $75 million. Sectors of interest include business services, healthcare services, information & software, and transportation & logistics.
“Over the past several years, Barrington’s growth has been extremely impressive, and we believe it is a testament to the value the company creates for its customers. Fort Point’s investment in Barrington reflects our firm’s commitment to investing in growing and differentiated businesses led by talented and dedicated entrepreneurs,” said Brooke Ablon, founder and partner at Fort Point.
The buy of Barrington is Fort Point’s tenth platform investment. Over the past twelve months, the firm has closed six transactions including one exit, two new platforms, and three add-on acquisitions.
Intrepid Investment Bankers was the financial advisor to Barrington and Bell Bank and Brookside Mezzanine Partners provided debt financing to support the transaction.
© 2020 Private Equity Professional | March 27, 2020
Source: https://peprofessional.com/2020/03/fort-point-buys-barrington-media-group/
