Mesirow Advises Vance Publishing Corporation On Its Sale To Farm Journal, Inc., Bobit Business Media, Inc. and CCI Media LLC
CHICAGO, December 9, 2015 – Mesirow Financial acted as the exclusive financial advisor to Vance Publishing Corporation (“Vance” or the “Company”) on its sale to Farm Journal, Inc. (“Farm Journal Media” or “Farm Journal”), Bobit Business Media, Inc. (“Bobit”) and CCI Media LLC (“CCI”), three leading business-to-business media companies in the United States. Under the agreement, Farm Journal acquired the Company’s Agribusiness and Produce divisions, while Bobit and CCI purchased Vance’s Salon and Woodworking divisions, respectively.
Headquartered in Lincolnshire, Illinois, Vance is a leading business-to-business media, events and database enterprise. Through 15 print publications, online and mobile websites and other capabilities, the Company provides in-depth industry coverage with real-time market information, news, insights and educational resources to the Agribusiness, Produce, Salon and Woodworking sectors. The Company’s extensive product and service offering includes industry news and resources delivered through websites, daily and weekly newsletters (print and electronic), weekly newspapers and monthly magazines, annual and biannual trade shows and conferences, database products and services, analytical and research services, and a variety of customized, targeted marketing services.
William C. Vance, chairman and CEO of Vance, commented on the transaction, “We are excited about the highly strategic combinations of Vance’s leading brands with those offered by Farm Journal, Bobit and CCI Media, and look forward to their future growth together. The transaction was incredibly complex given the simultaneous sale to three separate buyers. Mesirow Financial’s expert guidance and dedicated service from start to finish resulted in a successful outcome for all parties involved.”
“Mesirow Financial was honored to represent the ownership of Vance Publishing in this process,” stated Jeff Golman, vice chairman and head of Mesirow Financial’s Investment Banking group. “Many of Vance’s brands have been leading publications for several decades, with some exceeding 100 years. The acquisitions by Farm Journal, Bobit and CCI will drive continued evolution of Vance’s print and digital products to meet the demands of its audiences and customers.”
About Farm Journal, Inc.
Farm Journal Media is the nation’s prominent agricultural media company. Its magazines include the 139-year-old flagship Farm Journal, as well as Top Producer, Beef Today and Dairy Today. The broadcast division produces and distributes national television programs “AgDay,” “U.S. Farm Report,” “Farm Journal College TV” and “Machinery Pete TV” and daily radio programs “AgriTalk,” “American Countryside” and “Market Rally.” The company recently introduced My Farm Radio, a 24/7 digital mobile radio channel. The digital division includes web portal AgWeb.com, e-newsletters, online marketplace Cattle-Exchange.com and Farm Journal Mobile, which includes the Commodity Update markets service. Farm Journal hosts a national peer-to-peer advisory program, the Top Producer Executive Network. Insider news, policy and market advisory content are offered through the Professional Farmers of America subscription portfolio, which acquired The Kiplinger Agriculture Letter in 2014. Machinery Pete, LLC was launched in 2014 to provide industry analysis and price data for the used farm equipment sector. Farm Journal Media also compiles and licenses detailed producer and industry data through its FarmReach database, hosts more than 70 live events each year and offers custom multimedia integrated marketing services for its clients. In 2011, the company established The Farm Journal Foundation along with its Farmers Feeding the World initiative dedicated to sustaining agriculture’s ability to meet the vital needs of a growing population through education and empowerment. For more information, visit farmjournalmedia.com.
About Bobit Business Media, Inc.
Bobit Business Media is a leading business-to-business media and information company with 17 print publications, cutting-edge websites and apps, 16 tradeshows and conferences (including two Trade Show Executive “Fastest 50” events) and custom media. Bobit is headquartered in Torrance, Calif., and has offices in Akron, Ohio, Marlton, N.J., as well as eight other states. Its markets include vehicle fleets (in which it is the world’s largest fleet publishing company), law enforcement, beauty, automotive aftermarket and ground transportation. A family-owned company started by Edward J. Bobit in 1961, Bobit is now led by Ed’s son Ty Bobit as CEO/President. For more information, visit bobitbusinessmedia.com.
About CCI Media LLC
CCI Media is a business-to-business media company focused on the industrial woodworking (wood products manufacturing) market. Located in Cedar Rapids, Iowa, the company offers industry-leading print, e-media, and event brands engineered to assist businesspeople in adopting new technologies, streamlining production practices, exploring new materials and enhancing management techniques. CCI Media’s flagship brand is FDMC magazine, a print and digital monthly offering. In addition to FDMC, CCI Media publishes fdmcdigital.com, the Daily Brief and Tip Sheet e-newsletters, and produces the Wood Pro Expo tradeshow and conference in Baltimore, Md. CCI media’s target audience comprises manufacturers of kitchen and bath cabinets, countertops, residential, commercial and contract furniture, architectural millwork, store fixtures and other specialty wood products. For more information, visit ccimedia.net.
About Mesirow Financial
Mesirow Financial is a diversified financial services firm headquartered in Chicago. Founded in 1937, it is an independent, employee-owned firm with approximately 1,200 employees globally. With expertise in Investment Management, Global Markets, Insurance Services and Consulting, Mesirow Financial strives to meet the financial needs of institutions, public sector entities, corporations and individuals. For more information, visit mesirowfinancial.com.