RLJ Equity Partners, LLC Exits Media Source, Inc. (MSI)
BETHESDA, Md., July 16, 2014 /PRNewswire/ -- RLJ Equity Partners, LLC, an affiliate of The RLJ Companies, today announced it has completed its sale of Media Source, Inc. (MSI). Based in Plain City, Ohio, MSI is the leading provider of content, information and expert advice to the library market, serving K-12, public and academic librarians, publishers and suppliers.
"Media Source, Inc. has a long-standing reputation as a trustworthy resource for librarians and school systems across the country," said RLJ Equity Partner's Managing Director Jerry L. Johnson. "RLJ is pleased with MSI's performance as we worked with management to expand the company's market position and increase its profitability by developing a range of new services, an e-book platform, and improving its sales force effectiveness."
"RLJ Equity Partners provided an exceptional level of assistance to MSI and our efforts to become a leader in the education services market," said Media Source, Inc. CEO and President Randy Asmo. "With RLJ's strategic direction and relationships, MSI continued to thrive and increase our national presence and product offerings within the library and academic marketplace."
Media Source's differentiated services and products include print and digital collection development services, online and live professional development, book and multimedia reviews, journal subscriptions, websites and webinars. MSI provides a critical link between all education industry stakeholders—librarians, publishers, suppliers, vendors, teachers and parents.
RLJ Equity Partners acquired Media Source, Inc. from the Riverside Company in 2011 and its efforts helped drive outstanding results at MSI and significant growth of the company during the firm's hold period to create value for all stakeholders.
Piper Jaffray & Co. advised RLJ Equity Partners on the sale of MSI, and DLA Piper provided legal counsel on the deal.
About RLJ Equity Partners
RLJ Equity Partners is a middle-market private equity firm focused on generating long-term capital appreciation by investing in profitable and growing businesses led by strong management teams. Founded in 2006 by Robert L. Johnson in partnership with The Carlyle Group, RLJ originates structures and invests in traditional buy-outs, recapitalizations, and growth capital infusions. RLJ Equity Partners is a portfolio company of The RLJ Companies. For additional information please visit: www.rljequitypartners.com.
About Media Source, Inc.
Media Source, Inc. serves the library community by combining school and public library expertise with access to some of the most respected brands and best minds in the world of children's and young adult literature, collection development, and library management. Subsidiary companies include: Junior Library Guild, The Horn Book, Library Journal and School Library Journal. For additional information visit: www.mediasourceinc.net.
The RLJ Companies Media Contact: Traci Otey Blunt, 240.744.7858 or firstname.lastname@example.org
RLJ Equity Partners Contact: Jerry L. Johnson, 240.744.7887
Media Source Contact: Randy Asmo, 614.873.7940
SOURCE The RLJ Companies