Listen to this article

BridgeTower Media, which owns NJBIZ and business publications in 25 markets and industries around the country, was sold to Los Angeles-based private equity firm Transom Capital Group, the companies said Nov. 3.

The target had been owned by Gannett Co. Inc., a nationwide media company. BridgeTower operates 40 print and digital brands that provide content for business, legal, construction, legislative, pet retail and home furnishings audiences. Financial terms of the deal were not disclosed.

“We’re excited to partner with Transom to expand our business and strengthen our commitment to the markets we serve,” BridgeTower Chief Executive Officer Adam Reinebach said in a statement. “The culmination of this deal is a tribute to the resiliency, dedication and creativity of our people, whose collective grit is unmatched. We’re thrilled to find an investment partner who shares our vision for the future.”

Transom focuses on the middle market and said it had more than $600 million in assets under management as of March 2020.

“BridgeTower Media has been an integral partner to businesses across the country providing valuable media and marketing services for a long time,” said Transom Partner James Oh. “The company has a strong leadership team and has invested in its brands to be a market leader today. Our plan is to continue on the success the team has achieved and invest in technology and resources to stay ahead of the dynamic market.”

Kirkland & Ellis provided legal counsel on corporate matters to Transom; Perkins Coie LLP served as counsel on financial issues. Cerberus Business Finance provided financing for the deal. JEGI Inc. advised Gannett.