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Boyne Capital Acquires AC Business Media, Taps New CEO

September 04, 2018, 07:12 AM
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Related: Acquistions, Media

Boyne Capital announced it has partnered with management to acquire AC Business Media, Inc., a business-to-business media and business intelligence company with a portfolio of renowned brands in heavy construction, asphalt, concrete, paving, equipment rental, landscape, manufacturing, logistics and supply chain, and digital and data-driven marketing verticals. The brands include Equipment Today and Rental.

Wisconsin-based AC Business Media also introduced new leadership into the CEO role with the addition of Barry Lovette, a 20-year industry veteran with a deep understanding as to the needs of ACBM's customers. Lovette comes equipped with a clear vision to enhance AC Business Media's platform and offerings, as well as its customers' return on investment.

"AC Business Media is a market leader that is poised for future growth. By partnering with Boyne, AC Business Media will be able to continue investing in its products and capabilities and significantly enhance our ability to provide great value to our customers," Lovette said.

Derek McDowell, CEO and Managing Partner of Boyne, said, "AC Business Media is a leader in construction media with a portfolio of brands unmatched in the industry. We are pleased to be partnering with Barry Lovette and AC Business Media's long-tenured management team to grow the Company by expanding its already substantial audience and capabilities."

Boyne is a Florida-based private-equity firm.

Prior Chairman, Anil Narang, and CEO, Carl Wistreich, sold their majority stake in the company to Boyne, but remain minority owners. On the new partnership, Narang and Wistreich said: "We are excited to partner with Boyne and Barry. We are confident that they will take the best team in the industry and AC Business Media's outstanding customers to new heights."

Corporate Solutions of Westport, Connecticut, acted as financial advisor to AC Business Media. J2advisors acted as lead counsel to Boyne. Downs Rachlin Martin PLLC acted as lead counsel to AC Business Media.

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