Secaucus, N.J.—Northstar Travel Media has been acquired from BV Investment Partners by a private equity fund of the Wicks Group of Cos. Financial terms of deal, which closed June 29, were not disclosed.
Northstar Travel Media, which serves the travel industry, publishes Meetings & Conventions and Travel Weekly. It also produces database electronic publications, such as Hotel & Travel Index, and more than 20 events in the travel sector.
Tom Kemp, chairman-CEO of Northstar, and his management team will continue with the new owners. Since joining Northstar in 2009, Kemp and his team have diversified the company with deals such as its acquisition of PhoCusWright, a research and events producer in the online travel segment.
Kemp said that when he joined Northstar, the company generated 75% of its revenue from print products; now that figure is about 40%, and the company has almost doubled its overall revenue in the meantime.
“I think this deal was a win for BV, a win for Northstar and a testament to the positive things we've done in terms of the direction we're taking this company,” Kemp said in an interview with BtoB's Media Business.
“We are very impressed with the growth of Northstar Travel Media over the last few years during challenging economic conditions,” Dan Kortick, a managing partner at Wicks, said in a statement. “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.”
BV Investment Partners had owned Northstar since 2001.
Jordan, Edmiston Group represented Northstar in the transaction.