NEW YORK, (November 4,2013)
Spire Capital is pleased to announce that JMI, a member of its Fund II portfolio, will be acquired in full by Chime Communications PLC through its subsidiary CSM Sport & Entertainment. In a
transaction valued at $76 million, Spire’s five-year investment sees JMI becoming
a wholly owned subsidiary of Chime Communications and in doing so, provides Chime with their first global motorsports presence.
Spire, along with the Indiana Investment Fund, purchased control of JMI in June 2008
with a focus on assisting JMI’s management team in leveraging its dominant
marketing services presence in the motorsports industry. Spire’s focus was
centered on operational and financial efficiency, international expansion and client
“I’m grateful to have had the opportunity to work with the entire team at Spire,”
stated JMI CEO Zak Brown. “Their ability to provide strategic direction and
guidance has played an essential part in JMI’s growth, development and
expansion. Their expertise is unparalleled and they should be credited with the
significant role they played in our success and the tremendous opportunity we now
have with Chime. Without a doubt JMI wouldn’t have grown to where it is today
without Spire’s guidance and support.”
Bruce Hernandez, Partner at Spire Capital and JMI’s Chairman of the Board commented: “I
have thoroughly enjoyed working with Zak and the JMI team as they have grown
into a truly global marketing services company. The
company’s strategic, financial and operational growth has been tremendous over
the last five years and I am proud to have played a supporting role in its
success.” Rothschild served as financial advisor to JMI and Dentons as legal counsel in this
About Spire Capital Partners
Founded in 2000, Spire Capital is an active and experienced private equity firm with an
investment focus in companies within the business services, information
services, media, education and communications sectors. Spire Capital leads
buyout 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 has managed over $700 million in
Private Equity commitments since its founding.
For more information please visit www.spirecapital.com.
JMI creates motorsports-focused marketing solutions for Global 1000 companies,
leveraging its knowledge, relationships and expertise to deliver creative,
customized programs for organizations that seek a differentiator through
motorsports sponsorship to drive their business.
JMI is a full-service agency representing brands and corporations in all forms of
premier motorsports worldwide. The agency operates from offices in
Indianapolis, London and Hong Kong and services clients across global
motorsports including Formula One™, NASCAR, IndyCar, the World Rally
Championship, MotoGP, the FIA World Endurance Championship, NHRA, GRAND- AM and
the American Le Mans Series.
JMI’s client list comprises leading corporations, brands and individuals such as
Castrol, CLEAR, Crown Royal, DIAGEO, DIRECTV, Doug Yates, Farmers Insurance,
GlaxoSmithKline, Hoosier Tire, Jeff Gordon, Inc, Johnnie Walker, John Force
Racing, LG Electronics, LiftMaster®, Lucozade, Maximuscle, Mazda, PNC, POSITEC,
Rexona, SUBWAY® Restaurants, UBS, Unilever, UPS and Verizon Wireless.
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