The Wicks Group, a New York-based private equity firm, announced Oct. 19 it has completed the sale of Wicks Sports Information and the Daily Racing Form to Arlington Capital Partners, a Washington, D.C.-based private equity firm.
Craig Klosk, managing partner of the Wicks Group, told PR Newswire: "Brent Diamond, Carl Fazio and the rest of the management team have been great partners… since we bought the Form in early 2004. We congratulate the team on their achievements to date with this iconic brand and wish them and Arlington great success in the future."
The purchase price was not disclosed at the time of the sale, however, GE Commercial Finance’s Media, Communications & Entertainment announced it has closed a transaction as administrative agent for a $117.25 million credit facility to Arlington Capital Partners’ acquisition of Daily Racing Form.
"GE’s publishing industry experience and resourcefulness provided our team with invaluable support in making this transaction happen,” said Jeffrey Freed, founding partner, Arlington Capital Partners. “We have a long-standing working relationship with GE’s Media, Communications & Entertainment team and we look forward to building on this acquisition with their support.”
“This acquisition provides supplemental brand equity to Arlington Capital Partners’ core media portfolio,” said Ray Shu, managing director of media, GE – Media, Communications & Entertainment. “The firm’s management team has a unique combination of operating and private equity experience, which enables it to continue to be an industry leader in middle market buyout investment. GE grows with its customers, so we are delighted to support another key acquisition by this leading private equity firm.”
The Daily Racing Form, published since 1894, is a national daily print publication dedicated to the coverage of horseracing. Wicks Sports Information also contains niche brands that deliver in-depth content to sports enthusiasts who follow the NFL, MLB, NBA, and NHL in North America.
Arlington Capital is the seventh owner in the Form’s storied history. Frank Brunell founded and owned the publication from 1894-1922. The business was purchased by Triangle Publications in 1922 and sold to News America in 1988. In 1991, K-III/Primedia bought the Form, then sold it to Alpine Capital Group in 1998. The Wicks Group purchased the Form in 2004 and retained ownership until this year.
Arlington Capital Partners is a Washington, D.C.-based private equity fund focused on middle-market buyout investment opportunities in growth industries, including aerospace/defense, federal and commercial IT and engineering services, media, education and training, healthcare services, business services, and outsourcing.