After two decades as a division of Atlantic Media, GovExec is going independent. Atlantic Media owner David Bradley has sold a controlling stake in Government Executive Media Group (GEMG), a portfolio of media brands serving the public sector, to Growth Catalyst Partners, a Chicago-based private equity firm. Terms of the deal have not been disclosed. Following the sale, Peter Goldstone, a veteran B2B media exec who was CEO of Hanley Wood from 2012 to 2018 and served as president of GEMG from 2010 to 2012, will rejoin the company as chairman, while Bradley will maintain a minority stake in the company as well as a seat on the board. Included in the deal are all four of GEMG's brands—its flagship, Government Executive, as well as Defense One, Nextgov and Route Fifty—all of which serve government professionals at the federal, state or local level. An Atlantic Media rep tells Folio: that all current staffers at GEMG, including its management team, CEO Tim Hartman, president Connie Sayers and editor-in-chief Tom Shoop, will remain in place after the sale. A middle-market private equity firm founded in 2015 by Scott Peters and Jim Tenbroek, Growth Catalyst Partners says it specializes in information, marketing, and "tech-enabled services" businesses. Its portfolio includes CyberRisk Alliance, the B2B media firm founded in 2018 by Doug Manoni, the former CEO of both SourceMedia and Wicks Business Information. In a statement, Peters called GEMG an ideal investment for the firm,... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2020-03-17 14:43:03 UTC ]