Babcox Announces Partnership with Alta Communications
(Akron/Tire Review) Babcox Publications announces it has sold a majority position of the company to Alta Communications, a Boston-based private equity firm. Bill Babcox, current president of the company, retains a substantial ownership position and remains president and CEO, in addition to serving as chairman of the board.
“Alta has a proven track record financing strategic growth opportunities, making the company a terrific partner for us,” said Bill Babcox. “Our business has been on a successful growth track and we want to see that momentum continue. We’ve had many opportunities over the years to take on new partners. In this situation, we feel the timing is right and the chemistry with Alta creates an ideal opportunity to accelerate our growth. I am excited about the future of the company and what this means for our employees and customers.”
“We are thrilled about our newly formed relationship with Babcox,” said Phil Thompson, general partner of Alta Communications. “We feel like we’re backing the best team in the business and look forward to helping Babcox grow.”
About Alta Communications
Alta Communications (altacomm.com) is a Boston-based private equity firm formed in 1996 as part of a transition of venture capital firm Burr, Egan Deleage & Co. Alta’s founding partners, the former communications investing group of Burr, Egan Deleage, formed Alta Communications to focus exclusively on the media and telecommunications industries. Alta currently has approximately $1.5 billion of capital invested in more than 100 communication companies.
About Babcox Publications
Babcox Publications Inc. (babcox.com), which publishes Tire Review magazine, is a business-to-business magazine and custom publishing company serving both the automotive aftermarket and the truck fleet market. With a comprehensive mix of niche publications, Babcox has the unique ability to effectively and efficiently package and deliver top-quality integrated communication services.