CHICAGO -- Winsight LLC, a leading B2B information provider and publisher of CSP Daily News, announced that Charlotte, N.C.-based investment firm Pamlico Capital led a majority recapitalization of the company in partnership with the existing management team.
CEO Mike Wood Jr., along with other management team members and existing investors, will maintain significant ownership in Winsight and will continue to manage the growth of the company with support from Pamlico. The transaction, funded with both equity and debt, provides substantial growth capital to support the company. Specific terms of the transaction were not disclosed.
"Our team is proud of the success we have achieved to date, and we believe Winsight is well-positioned for future growth by continuing to provide innovative solutions for our customers," Wood said. "The Pamlico team brings expertise and ongoing capital for additional investment and acquisitions, and we are excited about what this will mean for Winsight's employees and customers. We see the opportunity to continue growing Winsight and increase our presence and offerings to our restaurant, foodservice and convenience markets, and are pleased to have a financial partner to execute our strategy."
Based in Chicago, Winsight provides actionable information, market intelligence, professional events and media to the global restaurant, noncommercial foodservice and convenience-retail industries. The company offers a multichannel portfolio of brands across research, data and analytics, events, magazines, websites, e-newsletters and content marketing solutions. With nearly 800 customers, Winsight's solutions enable customers to drive engagement with target audiences, refine business development strategies, and network within the industry.
"We are thrilled to partner with management and support exciting future growth opportunities [for Winsight]," said Pamlico Partner Scott Stevens. "The management team's passion for their business, track record of new-product-development initiatives and ability to expand through acquisitions stood out to us. The Winsight management team is poised to grow across multiple fronts, and the business represents a leading platform in the B2B information market."
Winsight was advised by East Wind Advisors (exclusive financial adviser) and Latham & Watkins LLP (legal adviser). Pamlico was advised by Alston & Bird LLP (legal adviser).
Pamlico Capital is a private-equity firm founded in 1988 that invests in growing middle-market companies in the United States. Pamlico Capital seeks growth equity and buyout investments of up to $100 million alongside proven management teams in its target industries: business & technology services, communications and healthcare. Since inception, the firm, based in Charlotte, N.C., has invested more than $2.5 billion.
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