Horizon Media to sell minority stake to Temasek
Bill Koenigsberg, CEO and founder of Horizon Media, will remain the long-term majority shareholder of the Company
Transaction also includes participation from LionTree
NEW YORK, Dec. 08, 2021 (GLOBE NEWSWIRE) — Horizon Media, the largest U.S. media agency according to AdAge Data Center 2021, today announced that it has entered into an agreement to sell a minority interest in the Company to Temasek, a global investment firm headquartered in Singapore.
The investment from Temasek will help Horizon accelerate its unmatched product offering in the marketplace and set up Horizon to navigate the new world order in marketing, media, and technology in the years ahead.
LionTree, an independent investment and merchant bank, is also an investor in the transaction and will support the continued growth and expansion of Horizon’s platform, leveraging its deep sector knowledge and global strategic relationships.
Bill Koenigsberg, CEO and founder of Horizon Media, said, “Horizon sees more opportunity than ever before to take advantage of gaps in the marketplace and continue our significant growth in driving positive business outcomes for our clients. In evaluating the next evolution of Horizon, I wanted a world class partner who is like-minded strategically, has the same appetite for growth, understands the media, marketing, and technology landscape, is global in scale, and culturally aligned. I found that perfect combination in Temasek and LionTree.”
Allen & Company LLC acted as financial advisor and Loeb & Loeb LLP acted as legal advisor to Horizon Media. Cleary Gottlieb Steen & Hamilton LLP acted as legal advisor to Temasek.
The transaction price is not disclosed.
Notes to Editors
About Horizon Media
Horizon Media, Inc, the largest U.S. media agency according to AdAge Data Center 2021, delivers data-driven business outcomes for some of the most innovative and ambitious brands. Founded in 1989, headquartered in New York, and with offices in Edmonton, Los Angeles and Toronto, the company employs 2,500 people and has media investments of more than $9.5 billion. Horizon Media’s fundamental belief is that business is personal, which drives its approach to connecting brands with their customers and engaging with its own employees resulting in industry-leading workplace satisfaction levels (Glassdoor). The company is consistently recognized by independent media outlets for its client excellence and has earned several “Best Workplaces” awards reflecting its commitment to DEI and the life and well-being of everyone at Horizon Media.
About Temasek
Temasek is a global investment company with a net portfolio value of S$381bn (US$283bn) as at 31 March 2021. Headquartered in Singapore, it has 13 offices in 9 countries around the world. The Temasek Charter defines Temasek’s three roles as an Investor, Institution and Steward, which shape its ethos to do well, do right, and do good. As a provider of catalytic capital, it seeks to enable solutions to key global challenges. With sustainability at the core of all Temasek does, it actively seeks sustainable solutions to address present and future challenges, as it captures investible opportunities to bring about a sustainable future for all. For more information on Temasek, please visit www.temasek.com.sg.
About LionTree
LionTree is an independent investment and merchant bank focused on media, technology, and the global digital economy. The firm leverages its specialized industry insights and relationships to provide partners with tailored ideas, actionable opportunities and resources that drive growth and transformation. Founded in 2012, LionTree works across offices in New York, San Francisco, London and Paris to serve partners around the globe through an integrated product set: M&A Advisory, Capital Raising, IPO Advisory, Merchant Banking, Institutional Investor Membership (IIM) and LT Growth. LionTree also operates Kindred Media, a digital media production company, investor and advisor focused on the intersection of media, technology, and business.
For media enquiries, please contact:
Horizon Media
Dan Prince
[email protected]
Temasek
Paul Ewing-Chow
[email protected]
LionTree
Brooke Jaye
[email protected]
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