Northstar Travel Media LLC, the parent company to the Meetings & Conventions, Successful Meetings, Incentive and MeetingNews brands, has been acquired by the Wicks Group of Companies, LLC. Wicks is a New York-based private equity firm that invests in the media, education and information industries. Wicks will be retaining the current management team and will continue the growth of the company through product development and strategic acquisitions. "For the customers, readers and users of our brands and products, it's business as usual," noted Lori Cioffi, senior vice president, editorial director, for the Northstar Meetings Group.
"We are very impressed with the growth of Northstar Travel Media over the last few years during challenging economic conditions," said Dan Kortick, a managing partner at Wicks. "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."
"We are very pleased to welcome Wicks as our new partner to provide the capital and investment experience to help Northstar achieve its full potential as an information company that serves one of the largest and most dynamic industries in the world: global travel and tourism," said Thomas Kemp, chairman and CEO of Northstar Travel Media. "BV Investment Partners has been a great partner of the company. Wicks possesses many of the same qualities as BV with their depth of experience and success investing in the media and information industries."
"We are very pleased to complete the sale of Northstar to Wicks," said Andrew Davis, Managing Director of BV Investment Partners. "The growth of the company and the aggressive diversification of revenue channels the past few years created much interest among investors for Northstar. We congratulate Wicks on closing the transaction and partnering with a great management team to continue to grow the business."
Northstar Travel Media serves the retail travel, meetings and conventions, corporate travel management, and incentive markets with leading brands including Travel Weekly, TravelAge West, Meetings & Conventions, Successful Meetings, MeetingNews, Business Travel News, Travel Procurement and Incentive; database-driven electronic publications Hotel & Travel Index, Official Cruise Guide and M&C Facilities Search; and online subscription services The Beat, travel42, Weissmann Reports, Intelliguide Corporate, BTP24 and Star Service Online. The company also produces more than 20 face-to-face events in the served markets of retail travel, corporate travel and the meetings industry, including M&C Interact and M&C Global Interact. In addition, Northstar owns PhoCusWright Inc., the leading research and event producer serving the fastest-growing segment of the travel industry, online travel distribution.