"Our shared vision for the firm will ensure that Inman is able to retain its independent spirit and robust culture, while continuing to deliver unmatched value to its audience.” - Lu Cacioppo, managing partner at Beringer Capital
TORONTO (PRWEB) July 26, 2021
Beringer Capital (“Beringer”), a leading North American private equity firm specializing in the media, marketing services, and technology sectors, today announced that it has acquired preeminent real estate media entity Inman Group (“Inman”).
Founded by entrepreneur and long-time journalist Brad Inman in 1996, Inman has established itself as the go-to news source for the residential real estate industry. Through its digital and in-person platforms, Inman reaches more than 2 million real estate professionals, who rely on its award-winning news coverage, thoughtful commentary and forward-looking events to remain abreast of emerging trends and best practices. Moving forward, Mr. Inman will retain an ownership stake and continue to play an active role in the Inman community.
Beringer Capital will invest significantly in additional growth opportunities across Inman’s editorial and events operations, including strategic bolt-on acquisitions to cement the firm’s market leadership position. It will work closely with the existing team to support the continued development of dynamic tools and content that drive long-term success for the entire Inman community.
“Trade publications play a unique and vital role in the media ecosystem, and Inman is a true industry frontrunner,” said Lu Cacioppo, managing partner at Beringer Capital. “To date, its talented team has done a remarkable job of establishing an engaged and highly active community. We’re looking forward to collaborating on exciting new offerings that further enable Inman’s audience of real estate professionals to retain a competitive edge and grow their businesses.”
“The Beringer team brings complementary data and digital media expertise to Inman,” said Brad Inman, founder and chairman of Inman Group. “They share our commitment to pushing the industry forward, ensuring that its readers are positioned for success amid a rapid pace of change. We found a partner whose values and priorities closely align with our own.”
Chief executive officer Josh Albertson, who will continue to lead the company, remarked: “Inman is a rare media and events property — a venerable brand that is also redefining the future of media. We're thrilled about partnering with the great team at Beringer, because they care deeply about both of those pieces.”
Beringer Capital’s digital media and marketing experience will complement the Inman team’s media, advertising and events expertise. Inman’s existing leadership and team will remain in place, while Beringer will contribute day-to-day strategic input and investment capital.
Mr. Cacioppo added: “Brad and Josh will remain at the helm. Our shared vision for the firm will ensure that Inman is able to retain its independent spirit and robust culture, while continuing to deliver unmatched value to its audience.”
Beringer Capital has a strong track record of partnering with companies in the digital media sector, helping them to grow and thrive amid a rapidly changing business environment. Notably, the firm acquired prominent media and events company Adweek in 2016, helping to diversify its product offerings and drive significant growth before a successful exit in 2020. During Beringer’s ownership period, Adweek expanded its editorial team, boosted subscriber numbers, and revitalized its global event business to create a highly profitable vertical. It also launched a series of pioneering initiatives aimed at fostering meaningful dialogue and knowledge-sharing within the brand marketing ecosystem.
Inman was advised in the transaction by Canaccord Genuity and Goodwin Procter. Beringer received legal representation from Winston & Strawn LLP and advisory services from Deloitte. Terms of the deal were not disclosed.
About Beringer Capital:
Beringer Capital is a private equity firm specializing in the rapidly evolving media, marketing services, commerce, data and technology sectors. The firm leverages its financial and intellectual capital to invest in middle-market companies that are strongly positioned to benefit from the accelerating trend toward digital transformation. Beringer’s collaborative approach, as well as its strong track record with add-on acquisitions, helps visionary leadership teams to deliver exceptional customer experience and achieve impressive results.
Beringer Capital has offices in Toronto and New York. For more information, visit http://www.beringercapital.com
Real estate industry professionals from around the world turn to Inman first for accurate, innovative and timely information about the business. Known for its award-winning journalism, cutting-edge technology coverage, in-depth educational opportunities, and forward-thinking events, Inman is the industry’s leading source of real estate information. For more information, visit http://www.inman.com.