The Media Buying Business under Alloy Media + Marketing has been acquired by Prospect Capital Corporation (NASDAQ: PSEC), a publicly traded investment company that specializes in mezzanine finance and private equity investments.
Effective immediately, the company will operate under the new name re:fuel (www.refuelnow.com), with continued focus on print media buying, out-of-home and sampling services centered on targeted consumer segments including youth, military, multicultural and local audiences, according to President and Chief Executive Officer, Andrew T. Sawyer, who previously led the division under Alloy.
“Prospect invested $32 million in the media buying units of Alloy Media + Marketing,” Greg Anthony, SVP Sales of re:fuel (photo) tells Portada.
“re:fuel is a completely new entity that consists of the newspaper, sampling and out-of-home division that were previously a part of Alloy Media + Marketing and were acquired by Prospect Capital Corporation. All key managers, most with more than a decade with the company, will remain with re:fuel,” Anthony adds.
…continued focus on Hispanic print…
Alloy Marketing + Media, now re:fuel, is one of the main Hispanic print placement agencies. Anthony says that his research continually demonstrates the power of print to resonate with Hispanic audiences and drive response. “That being said, we're always seeking out and deploying additional non-print assets to reach Hispanic consumers. We’ve executed successful Hispanic campaigns incorporating outdoor media, sampling and promotions, broadcast and interactive/mobile tactics.”
…expanding into digital
Anthony adds that “as we move forward as re:fuel, we will be investigating potential partnerships in several areas, including the digital space, especially as they align with our local and targeted market strategies. However, during our considerable tenure in these markets, we’ve proven that offline strategies are also extremely effective at reaching consumers, driving local sales and achieving results. “
Military, College, Youth capabilities
re:fuel is active in the military, college and youth markets as well as in local targeted efforts. Asked whether these markets are aligned in some of the advertising campaigns Anthony notes that “Our ultimate goal is to fulfill our clients’ brand objectives in the most efficient and effective manner possible. To that end, we frequently propose campaigns that reach across these core markets. For example, a successful effort targeting Hispanic young adults may include not only tactics in Hispanic population centers, but also reach to Hispanic Association of Colleges & Universities (HACU) campuses via our college capabilities.”
Last year (ALOY), the teen-focused media company behind the “Gossip Girl” franchise, was acquired by an investor group led by the private equity firm Zelnick Media for approximately $126.5 million. Now Zelnick sold its Alloy Marketing + Media assets to Prospect Capital Corporation. Read the financial details of the transaction here.