Hadley Capital Acquires Austin Monthly and add-on for I-deal OpticsBy Paul Wormley
The news is out on a couple of Hadley Capital's latest acquisitions. We acquired a Texas-based city magazine group and one of our portfolio companies, i-deal Optics, completed the add-on of a small distributor of budget eyewear based in Missouri.
The acquisition of Austin Monthly, Austin Monthly Home and San Antonio Magazine could be called a contrarian investment given the state of print media. We think providing relevant, timely, proprietary content to an engaged consumer is an attractive business model & whether in print or online. Advertisers are also looking for effective channels to reach consumers with high disposable incomes. When was the last time you saw an online ad for a Maserati?
That's not to say that we aren't looking at a number of opportunities to extend these strong local brands into the digital domain. Stay tuned...
P.S. Hadley Capital is actively on the hunt for more acquisitions. We are particularly interested in more city/regional magazine titles. Our bread and butter is working with small business owners considering a sale of their small business or family business and divestitures out of larger companies.