Hometown Communications, Inc. Sold in Two Separate Transactions
Hometown Communications, Inc. (“Hometown Communications”), a portfolio company of River Capital and another investment firm, announced it has sold the Company in two separate transactions to Murphy McGinnis Media, Inc. and the Wicks Group. Hometown Communications, headquartered in Fort Payne, Alabama, was formed to acquire and manage small to medium-sized newspapers, generally with a circulation of between 5,000 and 20,000 households. Following River Capital’s initial investment, Hometown Communications acquired three additional companies. At the time of sale, Hometown Communications owned properties in Kansas, Nebraska, Michigan and Utah. The purchase price was not disclosed.
River Capital is one of the oldest firms of its type in the Southeast and has acquired companies in a broad range of industries with combined annual revenues in excess of $600 million. River Capital primarily invests in light manufacturing, distribution and select service companies with purchase prices of $10 million to $50 million. For add-on acquisition candidates, the firm will consider companies with a purchase price less than $10 million.