Acquisition of Southern California Business Includes Three Publications “The Monthly Mailer,” “South Bay Monthly” and “OC Monthly”
LOS ANGELES, CA – May 12, 2014 – OpenGate Capital, a global private buyout firm, announced today that its wholly owned portfolio company, PennySaver USA, has acquired The Monthly Mailer from the founders, Brandon Ligthart and Matthew Kinser. The business specializes in producing three, full-color advertising and coupon publications, “The Monthly Mailer,” “South Bay Monthly,” and “OC Monthly,” that are delivered through the United States Postal Service to more than 486,000 high income households in 57 Southern California zip codes. In addition to the print publications, The Monthly Mailer business has three websites and is active on Facebook and Twitter. Terms of the acquisition were not disclosed.
Liz Gaier, PennySaver USA’s CEO stated, “The Monthly Mailer publications are an excellent complement to PennySaver’s weekly direct mail business and digital services. Adding a glossy magazine to our product line is a perfect solution to reach the communities currently underserved by the PennySaver, and the distribution will provide access for our advertisers to reach a much wider audience. We are really excited to work with The Monthly Mailer team and welcome them into the PennySaver business.”
PennySaver USA was acquired by OpenGate Capital in September 2013. Since completing the acquisition, and under the stewardship of Liz Gaier, the business has expanded its base of sales people and is undergoing development for new and improved digital advertising products.
PennySaver USA provides print and digital, hyper-local marketing and advertising services to California-based and nationwide customers. PennySaver USA is one of the largest and most well-recognized weekly local advertising publications in North America. The business serves more than nine thousand unique advertising customers, distributes 85 million inserts, and reaches more than nine million households weekly. The digital division of PennySaver USA provides marketing products and services that target consumers on desktop, tablet, and mobile applications. The online classifieds, coupons and business directory website, PennySaverUSA.com, hosts nearly 4.4 million listings nationwide and offers several advertising options. The digital division also supports thousands of small and medium sized businesses by providing full-service website hosting and creation, SEO, and business directory listing management services under its PowerSites® and Local Business Listings product lines. The division also provides qualified lead generation services via SEM (search engine marketing) and interactive display advertising.
The Monthly Mailer will continue to operate from its Hermosa Beach headquarters and all employees will stay with the business.
About OpenGate Capital
OpenGate Capital is a global private equity firm specializing in the acquisition and operation of businesses to create new value through operational improvements, innovation and growth. Established in 2005, OpenGate Capital is headquartered in Los Angeles, California with a European office in Paris, France. OpenGate’s professionals possess the critical skills needed to acquire, transition, operate, build and scale successful businesses. To date, OpenGate Capital, through its legacy and fund investments, has executed more than 30 acquisitions including corporate carve-outs, management buy-outs, special situations and transactions with private sellers across North America and Europe. To learn more about OpenGate, please visit www.opengatecapital.com.
For more information, please contact:
OpenGate Media Contacts
Telephone: +1 (310) 432-7000
Sitrick & Company
Telephone: (310) 788-2850
OpenGate Business Development Contact
Telephone: +1 (310) 432-7000
PennySaver USA Media Contact
Telephone: +1 (714) 577-4367