Brookfield-based Best Version Media, a community publication company specializing in print and digital advertising solutions, was acquired by a Boston-based affiliate of H.I.G. Capital, an investment firm that provides debt and equity capital to middle market companies, according to a Thursday press release.
Best Version Media (BVM) serves around 30,000 small and medium-sized businesses distributing over 47 million magazines yearly to residents across the U.S. and Canada. BVM publishes over 1,300 monthly publications, each powered by local communities and delivered free of charge to readers, according to its website.
“BVM has a strong track record of continuously delivering high-impact, hyper-local advertising solutions to our customers, while successfully expanding the company’s geographic footprint and continuing to reinforce the strong organizational culture that is foundational to our success,” said Kevin O’Brien, chief executive officer of BVM. “We are excited to work with H.I.G, which will allow us to expand our range of products and services to both our customers and our publishers.”
H.I.G. Capital manages $67 billion in capital across the U.S. and in several international offices in Europe, Asia and South America. Currently, the firm serves over 100 companies with combined sales of $53 billion.
“We believe Best Version Media represents a compelling opportunity to invest in a company with a long history of serving neighborhoods and communities,” said Andrey Vakhovskiy, managing director at H.I.G. “BVM’s history of industry-leading growth and focus on quality, innovation, and service has positioned BVM as a value-added partner to its clients and publishers.”
The acquisition will not impact day-to-day operations at BVM and the company will retain all its current employees, according to Mitch Writt, public relations manager at BVM.
“H.I.G. unlocks access to a wide array of resources and tools that will help us better serve our SMB (small and medium-sized business) clients and independent contractors,” Writt said.
Best Version Media was featured as one of BizTimes Media’s 2024 Future 50 winners in September.
