Shamrock Capital, a Los Angeles-based investment firm, has acquired Adweek, a specialist in coverage of the advertising and brand marketing ecosystem, from Beringer Capital. Terms of the transaction have not been disclosed.
“Adweek has been a critical source of information and insights for the marketing and advertising community for decades,” says Laura Held, Partner at Shamrock Capital. “Adweek’s experienced management team has done a tremendous job of building on its established brand, expanding its industry coverage and its product offering to further solidify its leading position in the marketplace. We look forward to working with Adweek to continue to drive strong growth, both organically and through acquisitions.”
“Shamrock’s strong media expertise makes the firm an ideal partner for Adweek,” says Jeffrey Litvack, CEO of Adweek. “Over the past four years, management has expanded Adweek’s focus beyond its award-winning journalism to include a burgeoning education platform, three leading industry tentpole events (Brandweek, Challenger Brands, and NexTech), a premium corporate subscription offering, and deeper connections with the CMO community through the acquisition of CMO Moves. We are excited to collaborate with Shamrock to continue innovating, expanding our offering, and enhancing Adweek’s strong brand and leadership in the market.”
Investment bank CG Petsky Prunier, part of Canaccord Genuity, advised Adweek and Beringer Capital on the transaction.
