Just Marketing sells majority interest
Just Marketing International (JMI) [A motorsports agency that counts IndyCar and the Hall of Fame Racing NASCAR team as their clients] announced today it will accelerate its existing global industry-leading position in motorsports marketing through an investment by private equity firm Spire Capital Partners (Spire) and Credit Suisse. The world’s largest independent motorsport agency will receive strategic support and substantial investment led by Spire, which invests in the development of leading companies in the information services, business service and media and communication sectors.
“Just Marketing International has strategically positioned itself for continued global expansion and profitable growth,” said Zak Brown, founder and CEO of Just Marketing International. “Our ability to aggressively pursue our immediate and long-term plans is significantly fortified and enhanced through the investment from Spire and Credit Suisse. We fully anticipate the ability to mutually create and broaden new relationships. Already, our collaboration has been beneficial and we expect Spire and Credit Suisse to be integral in enhancing the service to our existing clients and in reinforcing our business model through new resources and capabilities.”
According to Brown, a variety of global growth strategies including acquisitions is under consideration.
Bruce Hernandez, a managing partner of Spire commented, “We are highly impressed by the accomplishments of Zak Brown and his team within motorsports marketing. In understanding their future vision, we are excited to assist Just Marketing International in further developing their current growth opportunities as well as accelerating their global growth and success.”
Upon the consummation of the transaction, Brown, the current Just Marketing International executive management team, and employees will remain intact in their current roles.
“JMI has proof of performance when reviewing their successes,” said Hernandez. “Our intention is to facilitate them in accelerating global growth, rather than changing a proven market approach.”
No financial terms of the investment were immediately announced.
About Just Marketing International
Just Marketing International (JMI) is the global leader in motorsports marketing. JMI is an independent, full-service agency representing corporations in all forms of motorsports worldwide. With more than 125 staff globally, JMI operates six offices in four countries and manages over $300 million in annual motorsports investments. JMI’s client list is comprised of leading corporations, some of which include DIRECTV, Crown Royal, Lenovo, BMW, Hilton International, Johnnie Walker, IRWIN Industrial Tools, SUBWAY® Restaurants, and UPS, among others. Just Marketing International's clients participate in all major motorsports series, including NASCAR, Formula One World Championship, IndyCar Series, Grand-Am, NHRA, World Rally Championship, and the American Le Mans Series. For more information, please visit Just Marketing International on the worldwide web at http://www.justmarketing.com .
About Spire Capital
Founded in 2000, Spire Capital Partners is an active and experienced private equity firm with an investment focus in small market companies within the business services, information services, media and communications sectors. Spire Capital Partners seeks to lead small market investments in its areas of expertise and believes its deep industry experience and network of relationships are invaluable in helping its portfolio companies to grow and succeed. Spire Capital Partners currently has approximately $600 million in assets under management. Further information on Spire Capital Partners can be found at www.spirecapital.com .
About Credit Suisse
As one of the world's leading banks, Credit Suisse provides its clients with private banking, investment banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 49,000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN) are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at http://www.credit-suisse.com.
Source: Just Marketing International