M. Lee Smith Publishers
Receives Equity Infusion
Brentwood, TN, August 29, 2007 - M. Lee Smith Publishers announced today
that Prairie Capital, a Chicago-based private equity firm, has made a $15
million equity investment in the company.
Dan Oswald, President of M. Lee Smith Publishers commented, "I'm excited
about the opportunities Prairie Capital's investment creates for the
company. Our plan is to build MLSP into one of the country's leading
specialized information companies."
Prairie Capital provided some of the debt that allowed Oswald to acquire the
company from its founder, M. Lee Smith, in January 2005. Since that time
they have had a minority stake in the business and two members of Prairie's
team have served on MLSP's advisory board. It is expected that this infusion
of capital will allow the company to grow significantly both through new
product launches and acquisition.
Steve Groya, managing director at Prairie, stated, "M. Lee Smith Publishers
is a company with a strong, recognizable brand and quality products. We at
Prairie are confident that the company's experienced management team can
build MLSP into a major business-to-business media company. We're looking
forward to continuing what has proven to be an exciting and profitable
NewStar Financial, Inc provided financing for the transaction by serving as
the Sole Lender and Administrative Agent. "NewStar is pleased to be
supporting M. Lee Smith Publishers and Prairie Capital and we look forward
to working with the Company as it continues to grow its business and launch
new and unique specialized information products," said Ernie Panos, a
Managing Director in NewStar's middle market originations division.
About M. Lee Smith Publishers
Started in 1975 with the publication of the still-successful The Tennessee
Journal, M. Lee Smith Publishers today offers more than 130
nationally-acclaimed newsletters, videos, software, books, and directories
to attorneys, human resources professionals, and other business executives.
The company works with many of the nation's most prestigious law firms and
other subject-matter experts to provide the most authoritative and timely
information to the markets it serves.
About Prairie Capital
Prairie Capital makes equity and mezzanine investments of between $5 and $25
million, typically in support of companies undergoing an ownership change.
With over $500 million under management through its four funds, Prairie
Capital focuses on the lower end of the middle market, partnering with
management and/or other private equity investors to effect a
recapitalization or buyout. Since the firm's inception in 1997, Prairie
Capital has completed more than sixty equity and mezzanine investments in
small and mid-sized businesses. Prairie is based in Chicago and invests
About NewStar Financial
NewStar, which is headquartered in Boston MA, is a specialized commercial
finance company focused on meeting the financing needs of customers in the
middle market through their corporate, commercial real estate, and
structured products groups.
Creative Marketing Manager
M. Lee Smith Publishers LLC
(615)-661-0249, ext 8057 or