Action Media Acquired by Action Pursuit Group Provides Strong Growth in Events and Online Media for the Enthusiast Auto Market
Wednesday, 27 September 2006
Action Media LLC, a Great Hill Partners portfolio company and the leading provider of events and online media properties serving the automotive tuner and sports compact performance market, was acquired by The Action Pursuit Group LLC (“Action Pursuit”), an operating company of Apprise Enthusiast Media LLC.
Action Pursuit already has established a leadership position in this segment through publications, such as Drag Racer, Drifting, Diesel World, Drive!, and StreetTrucks. Terms of the transaction were not disclosed.
The Jordan, Edmiston Group, Inc. (JEGI), the New York-based middle-market media investment-banking firm, represented Action Media in this transaction.
Action Media, based in Irvine, CA, produces Hot Import Nights and NightShift events, the largest tuner and sports compact performance auto show series, with 20 yearly events held throughout the US and attended by more than 250,000 auto enthusiasts. Action Media’s Web sites – www.hotimportnights.com, www.hincity.com, and www.carandmodel.com – are the largest community sites serving the industry in terms of unique visitors and page views. Action Media has also leveraged its operating expertise to produce consumer events in other enthusiast sectors, such as skiing and boating.
“Action Media is a great addition to Action Pursuit, as it extends our multi-media reach in the fast-growing automotive enthusiast market and the desirable 18-34 year-old demographic,” said Craig Nickerson, CEO of Action Pursuit. “This is a highly attractive market that we know very well. The sports compact performance market generated $4 billion in sales in 2006. Action Media brackets that market with unique car show events, as well as strong interactive media vehicles that complement our existing print and online assets.”
“We will continue to invest in Action Pursuit’s growth, with regard to both organic opportunities, as well as acquisitions like Action Media,” said Charles G. McCurdy, Chairman and CEO of Apprise Media LLC. “Enthusiast media is a core sector for Apprise, and we will continue to grow our operating platform there.”
“Action Media is a great addition to the Apprise Enthusiast Media stable of properties,” said Michael Behringer, Senior Vice President of Apprise Media. “Our strategy is to offer consumers and advertisers a diverse offering of media products. The Action Media acquisition establishes Action Pursuit as the leading provider of publications, events and online media for the tuner and sports compact industry. In addition, Action Media’s deep experience in the consumer event industry will serve as a springboard for us to launch consumer events in Action Pursuit’s non-automotive verticals, such as paintball and martial arts.”
“Apprise Media’s experienced management team brings a significant amount of youth marketing and automotive knowledge to Action Media. Their expertise in this field, coupled with their enthusiasm to continue building our fast growing business, will ensure further success for both parties. We are confident that our staff and clients will benefit from this transaction. Everyone at Action Media is committed to a smooth transition and has a positive outlook for the Company’s ongoing prospects,” said Glenn Rogers, CEO of Action Media.