Clarion Capital Partners Completes the Sale of Cross MediaWorks LLC to Lee Equity Partners
New York, July 1, 2013 – Clarion Capital Partners (“Clarion”), a New York-based middle market private equity firm, completed the sale of Cross MediaWorks LLC (“Cross MediaWorks” or “the Company”), a leading provider of technology-enabled television advertising solutions, to Lee Equity Partners, a New York-based private equity firm.
Cross MediaWorks was founded in 2007 by Clarion Capital Partners, Marc Krigsman and Larry Rubin in order to provide integrated television advertising solutions to media stakeholders facing the challenges of channel proliferation and audience fragmentation. The Company was built through several acquisitions between 2007 and 2008, the most significant being the acquisition of TelAmerica Media LLC, which was founded in 1993.
“Cross MediaWorks has developed into a market leader with superior technology and a focus on its partnership with each of its valuable stakeholders. We are thrilled with the Company’s growth and product development,” said Marc Utay, Clarion’s Managing Partner. “This investment demonstrates Clarion’s approach to successfully partnering with great management teams to drive growth.”
“It was a pleasure investing in the outstanding leadership team at Cross MediaWorks. They did a fantastic job integrating and unifying the acquisitions and developing a true leader in the advertising services sector,” said David Ragins, a Managing Director at Clarion.
Cross MediaWorks was advised on the transaction by Jefferies LLC, Paul, Weiss, Rifkind, Wharton & Garrison LLP and Brownstein Hyatt Farber Schreck LLP.Back to News