The financing from BIA Digital provides capital for an equity restructuring and for further expansion.
New York, New York (PRWEB) April 9, 2007
United Metro Media, LLC d/b/a Job News, the nation's premier independent multi-media local recruitment advertising organization, has received $6.7M in mezzanine financing from BIA Digital Partners SBIC II LP. AdMedia Partners, a New York investment bank serving media, advertising and marketing services businesses, and related online and information services businesses, acted as a financial advisor to United Metro Media, LLC in the financing.
United Metro Media d/b/a Job News provides employers comprehensive multi-media recruitment solutions through a weekly employment publication that is distributed through a powerful local exposure network in 21 markets in 8 states, coordinated regional websites in each market, partnerships with local TV and radio stations, and job fairs, also in each market. Through its multimedia offerings, Job News reaches in excess of 15 million job seekers every year.
"Job News has been successful in building the recruitment business model at the local level and expanding through a hub-and-spoke organization with Louisville, KY, as the hub," says Rob Garrett, the AdMedia Partners investment banker on the deal. "The financing from BIA Digital provides capital for an equity restructuring and for further expansion."
About BIA Digital Partners
BIA Digital Partners is a private equity firm providing junior capital to middle-market communications companies. The Fund's capital is available for growth, recapitalizations and LBOs/MBOs. The Fund focuses on mid to later-stage companies operating in the media, telecommunications, and related business services industries. BIA Digital Partners II LP was launched in December 2005 and received its Small Business Investment Company license in 2006. For more information, visit http://www.biadigitalpartners.com.
About AdMedia Partners
AdMedia Partners is a leading boutique investment bank that provides middle market mergers and acquisitions advisory services to the advertising and marketing, media and related online and information services businesses. Founded in 1990 and located in New York City, the firm has completed over 150 transactions since 1999.
Selected transactions completed by AdMedia Partners include:
- Representing Bonnier AB, a $2.9 Billion European Media company, in its acquisition of Time4Media and The Parenting Group from Time Inc.
- Representing New Media Strategies and Genex in their acquisitions by Meredith.
- Representing Spannerworks, a leading U.K. search engine marketing agency, in its acquisition by iCrossing.
- Representing Gruner + Jahr USA Publishing, in its sale of Fast Company and Inc. to Mansueto Ventures L.L.C., an entity formed by Joe Mansueto.
- Representing Grupo Editorial Expansión, Mexico's second largest magazine publisher, to Time Inc., a subsidiary of Time Warner.
- Representing Medical Broadcasting, one of the largest independent interactive healthcare agencies, in its acquisition by Digitas Inc.
- Representing Alexander & Edwards Publishing in its acquisition by Hanley Wood, LLC, the leading publisher serving the housing and construction industry.
- Representing What's On, LP, publisher of Las Vegas's leading regional travel and leisure visitor guide, in its partnership with Kellogg Media Group.