Wicks Group Buys Northstar Travel Media
Northstar Travel Media, a business-to-business media company serving the travel industry, has gone from one private equity owner – BV Investment Partners – to another, Wicks Group, which purchased the company for an undisclosed sum.
“We are very impressed with the growth of Northstar Travel Media over the last few years during challenging economic conditions,” said Dan Kortick, a managing partner at Wicks.
He added, “The management team has done an excellent job of migrating its core business to an integrated information and marketing solutions company. We are excited about partnering with the current management team to continue to grow the Company through product development and strategic acquisitions.”
Northstar publishes meetings magazines such as Meetings & Conventions, Successful Meetings and Meeting News, as well as travel publications Travel Weekly, Business Travel News and TravelAge West.
In addition, Northstar produces more than 20 face-to-face events, including the Travel Weekly Home Based Agent Shows in Fort Lauderdale and Seattle and meetings events such as the Meetings and Incentives Summit.
Along with the print publications, Northstar also publishes several e-publications, and it owns PhoCusWright, a research and event producer serving the fastest-growing segment of the travel industry - online travel distribution.
“We are very pleased to welcome Wicks as our new partner to provide the capital and investment experience to help Northstar achieve its full potential as an information company that serves one of the largest and most dynamic industries in the world: Global travel and tourism,” said Thomas Kemp, chairman and CEO of Northstar Travel Media.
He added, “BV Investment Partners has been a great partner of the Company. Wicks possesses many of the same qualities as BV with their depth of experience and success investing in the media and information industries.”
Kemp and his team will continue to run Northstar under the new ownership.
“We are very pleased to complete the sale of Northstar to Wicks,” said Andrew Davis, managing director of BV Investment Partners.
He added, “The growth of the company and the aggressive diversification of revenue channels the past few years created much interest among investors for Northstar. We congratulate Wicks on closing the transaction and partnering with a great management team to continue to grow the business.”
Based in Secaucus, N.J., the company also has offices in New York City; Glen Ellyn, Ill.; Los Angeles; Sherman, Conn.; and Winston-Salem, N.C.