Company Description
Founded in 1989, Smart Business Network, Inc. (the “Company” or “Smart Business”), based in Westlake, Ohio, is a media and events company dedicated to inspiring and informing business leaders. Through Smart Business magazines and the Smart Business Dealmakers Conference series, Smart Business has been helping entrepreneurs and executives share their success stories, connect with peers, and grow their companies for more than three decades. Smart Business has built a trusted reputation for helping business leaders network and learn from each other through content and in-person events. The Company’s Smart Business Dealmakers conferences, held in 20 U.S. markets, are essential gatherings for middle-market CEOs, investors and advisors involved in mergers, acquisitions, and capital strategies.
Services Provided
MelCap served as the exclusive investment banker and financial advisor to Smart Business in connection with the sale of the business.
The Result
In an effort to achieve ownership’s goals and objectives, and to support the Company’s strategic growth plans, MelCap lead the sell-side process resulting in a sale to the ideal buyer for the business. As a result, Smart Business was sold to Vistage Worldwide, Inc. (“Vistage”), a portfolio Company of Gridiron Capital, LLC (“Gridiron). Vistage is the world’s largest CEO coaching and peer advisory organization for small and midsize businesses. For more than 65 years, Vistage has helped CEOs, business owners, and key executives solve their greatest challenges through confidential peer groups and one-to-one executive coaching. Today, more than 45,000 members in 40 countries rely on Vistage to make better decisions that achieve better results for their companies, families, and communities. Founded in 2005, Gridiron, based in New Canaan, CT, is a private equity firm that manages ~$8.6 billion in assets across more than 200 investments through 5 funds, primarily investing within the business services, consumer products and services, and industrial growth markets.
Deal Team
We would also like to thank the deal teams that worked on this transaction. We could not have completed this transaction without their tireless efforts. More specifically, we’d like to thank Tucker Ellis LLP, CPL Advisors LLC, On Deck Ventures LLC, Kelman, Moses, Seifert & Hartstein, Cohen & Co Advisory, LLC, Finn Dixon & Herling LLP, and Forvis Mazars.
“I can’t say enough about how great our experience was working with the MelCap team. From developing a target acquirer’s list to vetting multiple offers to managing an efficient closing, the MelCap team excelled at every step. The fact that we went from LOI to closing in less than 40 days tells you all you need to know about the experience and professionalism MelCap brings to the process.”
