PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

Boston Ventures portfolio company acquires CK Media

BVK Holdings, Boston Ventures’ Fund VI portfolio company and owner of the consumer enthusiast publisher New Track Media, has acquired CK Media, a publisher of quilting, sewing, and scra

BVK Holdings, Boston Ventures’ Fund VI portfolio company and owner of the consumer enthusiast publisher New Track Media, has acquired CK Media, a publisher of quilting, sewing, and scrapbooking magazines.

CK Media includes nine magazines with a combined circulation of about one million in the soft craft subject areas of quilting, sewing and scrapbooking. The business also includes a conference and events division, book publishing, digital properties, and other business units serving the same consumer base of soft craft hobbyists.

CK Media’s key publications are Creating Keepsakes, which serves scrapbooking enthusiasts, several quilting titles such as McCall’s Quilting and Quilters Newsletter, and various others including Sew News.

Stephen J. Kent, chief executive of New Track Media, says: "The acquisition of CK Media makes New Track the largest consumer platform focused on crafts and specialty merchandise publications. We are primarily a business that serves the information needs of soft craft hobbyists using a range of print and digital product. We are committed to sensible growth that improves our ability to do the best job possible for these consumers, and there is no question that this is a logical extension of that commitment. The company’s diverse range of magazines and online content make this a very strong complement for our existing portfolio."

The CK Media business had been acquired from Primedia in 2006 by the private equity firm Sandler Capital. They engaged the investment banking firm DeSilva & Phillips earlier this year to explore strategic alternatives, which resulted in the sale to BVK. The acquisition of CK Media increases New Track’s annual revenues to approximately USD80m.

Elizabeth Granville-Smith, a managing director at Boston Ventures, says: "Boston Ventures remains active in this challenging environment which is enabling us to identify strategically beneficial companies with attractive valuations as lenders restructure their credits. Because of the niche sector in which New Track operates, it continues to perform on budget, and we are pleased to enhance its brand offerings with the addition of CK Media."

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured