Wicks Group Buys Northstar Travel Media
July 8, 2012
Northstar Travel Media, a business-to-business media company serving the travel industry, has gone from one private equity owner – BV Investment Partners – to another, Wicks Group, which purchased the company for an undisclosed sum.
“We are very impressed with the growth of Northstar Travel Media over the last few years during challenging economic conditions,” said Dan Kortick, a managing partner at Wicks.
He added, “The management team has done an excellent job of migrating its core business to an integrated information and marketing solutions company. We are excited about partnering with the current management team to continue to grow the Company through product development and strategic acquisitions.”
Northstar publishes meetings magazines such as Meetings & Conventions, Successful Meetings and Meeting News, as well as travel publications Travel Weekly, Business Travel News and TravelAge West.
In addition, Northstar produces more than 20 face-to-face events, including the Travel Weekly Home Based Agent Shows in Fort Lauderdale and Seattle and meetings events such as the Meetings and Incentives Summit.
Along with the print publications, Northstar also publishes several e-publications, and it owns PhoCusWright, a research and event producer serving the fastest-growing segment of the travel industry - online travel distribution.
“We are very pleased to welcome Wicks as our new partner to provide the capital and investment experience to help Northstar achieve its full potential as an information company that serves one of the largest and most dynamic industries in the world: Global travel and tourism,” said Thomas Kemp, chairman and CEO of Northstar Travel Media.
He added, “BV Investment Partners has been a great partner of the Company. Wicks possesses many of the same qualities as BV with their depth of experience and success investing in the media and information industries.”
Kemp and his team will continue to run Northstar under the new ownership.
“We are very pleased to complete the sale of Northstar to Wicks,” said Andrew Davis, managing director of BV Investment Partners.
He added, “The growth of the company and the aggressive diversification of revenue channels the past few years created much interest among investors for Northstar. We congratulate Wicks on closing the transaction and partnering with a great management team to continue to grow the business.”
Based in Secaucus, N.J., the company also has offices in New York City; Glen Ellyn, Ill.; Los Angeles; Sherman, Conn.; and Winston-Salem, N.C.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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