Bisnow Sale to The Wicks Group
New York, May 5, 2016 - Bisnow, North America's leading producer of commercial real estate news and events announced that New York-based investment firm, The Wicks Group, acquired the company. Terms of the transaction were not disclosed.
Bisnow, a leading digital media outlet for commercial real estate news, produces almost 300 industry events across more than 30 metro markets.
Bisnow is known for its insightful, snappy, and lively approach to commercial real estate events, which are led by leading industry speakers and typically focused on top-of-mind subjects in hyper-local geographies. The events provide a high-touch forum for the attendees to network with peers and learn from leading minds.
Commenting on the transaction, Bisnow CEO, Will Friend, said, "We are excited to begin our partnership with Wicks. We are pleased to have a partner that shares our vision and an appreciation for the culture, processes, people, products and customer value that we've built. We're eager to continue building our track record of excellence and expanding our product offering both here in the United States and later this year overseas."
"Bisnow is a clear leader in commercial real estate digital media and events and is a highly valued provider to its attendees and sponsors," said Daniel M. Kortick, Managing Partner of Wicks. "We believe the organic growth opportunity is compelling and we look forward to working with Will and the rest of the Bisnow team to support the next phase of the company's development."
The transaction closed on April 29.
Arent Fox served as legal counsel to the company. The Jordan, Edmiston Group, Inc. (JEGI) served as strategic advisor to the company.
Morgan, Lewis & Bockius served as legal counsel to Wicks.
ABOUT BISNOW ((www.bisnow.com))
Founded in 2005 and headquartered in New York, Bisnow is North America's leading commercial real estate news and events company. The company maintains over 600K e-newsletter subscribers, hosts over 400K unique visitors to its website per month, and produces almost 300 events with more than 60K ticket buyers per year across 30 metro markets.Contact: Will Friend, CEO, 202-674-3706
ABOUT THE WICKS GROUP OF COMPANIES ((www.wicksgroup.com))
The Wicks Group of Companies is a private equity firm based in New York City that invests in lower-middle-market companies operating in selected segments of the information, education and media industries principally in the United States and Canada. Since its founding in 1989, Wicks has invested over $1 billion of capital in more than 30 platform companies and approximately 100 add-on acquisitions. The firm has applied a consistent investment strategy since its founding, partnering with high-quality, experienced management teams to build businesses organically and through acquisitions.