EL SEGUNDO, Calif.--(BUSINESS WIRE)--
Brands, a leading provider of vertically-focused online media and
software services, announced it has signed a definitive agreement under
a leading global investment firm, will acquire Internet Brands from
Hellman & Friedman and JMI Equity. KKR is making its investment in
partnership with Internet Brands chief executive officer Bob Brisco and
the Internet Brands management team, who will hold a minority stake in
the company and continue to run the business.
Internet Brands operates leading branded websites and vertical software
solutions in four primary markets: auto, health, legal and home /
travel. The Company's properties attract more than 100 million unique
visitors per month and serve more than 100,000 SMBs and advertisers. The
Company has approximately 1,600 employees and is headquartered in El
Brisco said, "We're delighted to be partnering with KKR at this
important juncture in our business, when we have dramatically expanded
our client solutions portfolio and our growth in key areas is
Chen, Member of KKR and Co-Head of the firm's technology investing
team, added, "Internet Brands is at an exciting inflection point of
growth as the company transitions from a portfolio of web assets to a
vertically integrated provider of media and client software solutions.
Its growth has been driven by its propriety operating platform and a
management team with a focused vision. We look forward to partnering
with the team and supporting the company in its next phase of growth."
Tarim Wasim, Managing Director of Hellman & Friedman, added, "We have
had a very successful partnership with Bob and the entire Internet
Brands team. We are proud of the Company's performance and
transformation, and wish the team continued success under KKR's
Internet Brands operates leading brands in the following categories:
Auto: #1 pure play auto OEM technology and data provider Autodata
Solutions; #1 auto enthusiast communities
Health: #1 web presence solutions providers for medical professionals:
Officite, iMatrix, TherapySites, and Baystone Media
Legal: #1 web presence solutions providers for legal professionals:
Martindale-Hubbell and Nolo
Home/Travel: #1 frequent flier community FlyerTalk.com; #1 apartment
review site ApartmentRatings.com.
KKR has a long history of successfully investing in market leading
businesses in technology, including recent investments in Go Daddy,
Mitchell, Aceco TI, Visma, Fotolia, and Ipreo.
KKR is making the investment through its North America XI private equity
fund. The transaction is subject to customary closing conditions.
About Internet Brands
Headquartered in El Segundo, Calif., Internet Brands® is a fully
integrated online media and software services organization focused on
four high-value vertical categories: Automotive, Health, Legal and Home
/ Travel. The company's award-winning consumer websites lead their
categories and serve more than 100 million monthly visitors, while a
full range of web presence offerings has established deep, long-term
relationships with SMB and enterprise clients. Internet Brands'
powerful, propriety operating platform provides the flexibility and
scalability to fuel the company's continued growth. For more
information, please visit www.internetbrands.com.
KKR is a leading global investment firm that manages investments across
multiple asset classes including private equity, energy, infrastructure,
real estate, credit and hedge funds. KKR aims to generate attractive
investment returns by following a patient and disciplined investment
approach, employing world-class people, and driving growth and value
creation at the asset level. KKR invests its own capital alongside its
partners' capital and brings opportunities to others through its capital
markets business. References to KKR's investments may include the
activities of its sponsored funds. For additional information about KKR
& Co. L.P. (NYSE:KKR), please visit KKR's website at www.kkr.com.
About Hellman & Friedman
Hellman & Friedman LLC is a leading private equity investment firm with
offices in San Francisco, New York and London. Since its founding in
1984, H&F has raised and, through its affiliated funds, managed over $25
billion of committed capital. The firm focuses on investing in superior
business franchises and serving as a value-added partner to management
in select industries including software, internet, digital & traditional
media, healthcare, business, marketing & information services, financial
services, insurance, and energy & industrials. For more information on
H&F, please visit www.hf.com.
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading
software and technology-enabled services companies. Founded in 1992, JMI
has invested in more than 110 businesses in its target markets and has
over $2.1 billion of committed capital under management. JMI provides
capital for growth, recapitalizations, acquisitions and buyouts.
Representative investments include DoubleClick, BigMachines, Eloqua,
PointClickCare, PowerPlan, ServiceNow and Unica. For more information on
JMI Equity, visit www.jmi.com.
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Joe Ewaskiw, 310-280-4539
The Abernathy MacGregor Group
Source: KKR & Co. L.P.
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