MEDINA, Ohio–(Small business WIRE)–Nov 9, 2021–
A group of buyers led by Seaport Funds, a New York-based mostly non-public fairness business, and which includes Gray Television (NYSE: GTN), introduced right now that it has formed and provided growth cash to Spouse and children Entertainment Holdings, LLC (“FEH” or the “Company”), in partnership with an knowledgeable staff of reside occasion enjoyment executives together with Ken Hudgens, Eric Cole, Tim Murray and Grant Reeves. FEH is a diversified, relatives-oriented enjoyment keeping organization that seeks to build profitable live occasion formats and other amusement intellectual assets. Ken Hudgens will guide the Organization as Main Government Officer.
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The financial investment permits FEH to continue to mature its to start with two show formats, Magic of Lights and Warm Wheels Monster Vehicles Stay, as effectively as convey them below a one holding enterprise structure. Magic of Lights, set up in 2016, is an outside vacation gentle expertise displayed at venues throughout North The us. Scorching Wheels Monster Vans Dwell, established in 2019 in conjunction with Raycom Athletics, a division of Grey Tv, is a Very hot Wheels-themed monster truck present introduced in each North America and internationally.
“Both Magic of Lights and Very hot Wheels Monster Trucks Stay have remarkable progress possibilities and we are enthusiastic to companion with this investor group led by Seaport Capital to recognize on that likely,” said Ken Hudgens, Founder and CEO of FEH. “We knew Seaport was the suitable partner for us, presented its alignment with our eyesight for the small business and considerable knowledge developing founder-led organizations in the dwell function and media sectors.”
“Ken and group bring extremely prosperous management working experience in dwell gatherings to FEH, and we glance ahead to supporting their eyesight of producing a diversified, relatives-oriented enjoyment system anchored by Magic of Lights and Scorching Wheels Monster Vehicles Dwell,” stated Drew Meyers, Spouse at Seaport Money.
Pat LaPlatney, CEO of Grey Television reported, “We feel in these companies. Regional engagement is the basis of Grey Television and nothing at all engages improved than cost-effective spouse and children entertainment. Scorching Wheels Monster Trucks Live and Magic of Lights already collaborate with our community station teams in 30 marketplaces.”
Monthly bill Luby, Companion at Seaport Funds included, “Investing alongside founders like Ken, Eric, Tim and Grant to assist them build a business of meaningful scale with persuasive unit economics and progress opportunities, equally organically and by acquisition, is regular with what Seaport has performed due to the fact our inception with founder-led and household-led enterprises.”
Loved ones Enjoyment Holdings, LLC is the 3rd financial commitment designed by Seaport Cash Partners Fund VI, Seaport’s 2020 classic buyout fund.
About Family members Amusement Holdings, LLC
Family Leisure Holdings, LLC is a diversified, household-oriented amusement holding enterprise that seeks to produce thriving live event formats and other enjoyment intellectual house. The Company’s are living celebration formats involve Magic of Lights, an out of doors holiday break gentle knowledge shown at venues during North America and Hot Wheels Monster Trucks Dwell, a Hot Wheels-themed monster truck exhibit introduced equally in North America and internationally. The Enterprise is headquartered in Medina, Ohio. For more data, visit https://magicoflights.com or https://hotwheelsmonstertruckslive.com.
About Seaport Capital
Launched in 1997, Seaport Funds is a lower middle-sector buyout firm that invests in communication infrastructure and companies, small business and details products and services, and media providers (the “Focus Sectors”). Seaport normally invests $10 to $30 million of equity money in organizations creating EBITDA in between $3 and $15 million, with the purpose of maximizing the return on invested funds. Seaport is at the moment investing as a result of Seaport Capital Associates VI, a 2020 classic fund. Seaport’s substantial field expertise and investing working experience allow it to build successful approaches in partnership with management teams its relationships and industry experts assist realize them. Practically all of Seaport’s platform investments have been owned by founders or entrepreneurs trying to get a collaborative institutional spouse to give the economic and operational means to grow their enterprises and execute on a effective strategic program. For extra information and facts, go to https://www.seaportcapital.com.
About Gray Tv
Grey Television, headquartered in Atlanta, Ga, is the premier proprietor of leading-rated community tv stations and digital property in the United States. Upon its anticipated acquisition of the tv stations of Meredith Corporation, Grey will develop into the nation’s next premier tv broadcaster, with television stations serving 113 marketplaces that achieve somewhere around 36 percent of US tv homes. The professional forma portfolio consists of 79 marketplaces with the major-rated tv station and 101 markets with the first and/or next maximum rated tv station, in accordance to Comscore’s audience measurement details. Grey also owns online video application manufacturing, promoting, and digital companies such as Raycom Sports activities, Tupelo Honey, and RTM Studios, the producer of PowerNation programs and written content, and is the bulk owner of Swirl Movies.
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Speak to: Media:
Kathleen Holohan
Investor Relations Affiliate
Seaport Cash
212-847-8915
Search phrase: OHIO UNITED STATES NORTH The us
Business Key word: Specialist Services Spouse and children Enjoyment Consumer General Amusement FINANCE
Resource: Seaport Money
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PUB: 11/09/2021 09:30 AM/DISC: 11/09/2021 09:32 AM
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Copyright Business Wire 2021.
