The transaction is expected to close during the third quarter of Reflecting the complementary strengths of the two businesses, the combined company will have market-leading offerings in parcel, less-than-truckload LTL , full truckload FTL and managed transportation delivered through proprietary technology.
It will continue to go to market both directly and indirectly via franchisees and independent freight agents and to serve a customer landscape that spans from small and medium-sized businesses SMBs to larger enterprises.
The combined company will also have unique data assets and business intelligence capabilities to provide its customers with visibility and analytics to deliver competitive advantage. The opportunities for our employees, franchisees and independent agents are now greatly expanded. I tremendously appreciate the strong partnership we have had with Ridgemont and am excited to work with CVC and Providence as we continue to build Worldwide Express into a much larger business.
This transaction will provide new and exciting opportunities for the team at GlobalTranz. Harris Williams and J. Morgan advised Worldwide Express. Worldwide Express, LLC is a full-service, non-asset-based logistics provider offering more than 92, customers access to industry-leading small package, truckload and less-than-truckload shipping solutions around the world.
To learn more about the brands, please visit www. GlobalTranz is a full-service third-party logistics provider, bringing award-winning customer service, exceptional industry expertise and market-leading technology to shippers, carriers, and logistics service providers.
Leveraging its extensive independent agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 1 million product users and 25, shippers.
For further information about CVC please visit: www. PSG is a growth equity firm that partners with middle-market software and technology enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 65 companies and facilitated over add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams.
Ridgemont Equity Partners is a Charlotte-based middle market buyout and growth equity investor. Independent artist Rector is a rising singer-songwriter with success in licensing music across numerous TV shows, national ad campaigns and movie trailers. We are thrilled to be partnering with a myriad of talent and support their art.
Holdings L. DoubleVerify did not receive any proceeds from the sale of shares by the selling stockholders. LLC and J. Morgan acted as joint lead bookrunning managers for the public offering.
A registration statement relating to the shares sold in the public offering was declared effective by the U. Securities and Exchange Commission on April 20, The public offering was made only by means of a prospectus.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
DoubleVerify is a leading software platform for digital media measurement and analytics. Our mission is to make the digital advertising ecosystem stronger, safer and more secure, thereby preserving the fair value exchange between buyers and sellers of digital media. Hundreds of Fortune advertisers employ our unbiased data and analytics to drive campaign quality and effectiveness, and to maximize return on their digital advertising investments.
Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
Financial terms were not disclosed. The transaction is scheduled to close on March 29, San Francisco and Detroit are two of the top touring cities for Broadway shows in the United States, and Nederlander has overseen the operation of its historic owned theatres for more than 50 years.
Nederlander is also the exclusive promoter and presenter of Broadway touring and other theatrical productions at the Detroit Opera House and the Music Hall. The venues have been home to some of the most successful Broadway shows in their respective locations by number of attendees for musicals and dramatic theatre.
The Golden Gate Theatre was built in and has a venue capacity of approximately 2, seats. The Orpheum Theatre was built in and has a venue capacity of 2, seats, and is designated as a Historical Landmark.
The Fisher Theatre was built in , and renovated into a legitimate Broadway touring house under the management of the Nederlanders in It currently has a venue capacity of approximately 2, seats, and is also designated a National Historic Landmark. The Detroit Opera House was built in and has a venue capacity of approximately 2, seats. It also hosts the principal opera company in Michigan.
The Music Hall was built in , has a seating capacity of 1,, and is home to a wide range of performing arts and education including dance and music. It is also on the National Register of Historic Places. Robert Nederlander Sr. We are confident that the ATG team will continue to look after the strong foundation that we have created with these theatres in their respective communities and to take them into this next decade with great success.
The Nederlander family has a long history of promoting the best in live entertainment and we are excited to be bringing these wonderful venues and venue teams into the ATG family. The transaction was initiated by Lisbeth R.
It is a world leader in live entertainment, covering historic theatres, studio theatres, cinemas, conference spaces, and modern live music arenas. It partners with top producers and promoters to stage over 12, live performances per year.
It also owns a leading ticketing platform in the UK, selling more than 11 million tickets each year. Its productions include blockbuster musicals, star-led dramas and live music. Based in Germany, Mehr BB Entertainment produces across a range of genres including theatre, dance, concerts, and musicals. About TEG: TEG is a leading live content and ticketing company in the Asia Pacific region, with an integrated live entertainment platform that combines ticketing services, event promotion, venues, data analytics, and marketing solutions.
TEG operates as the exclusive ticketing provider for over venue and promoter clients and delivers 30 million tickets annually for over 30, events spanning live sports, concerts, theatre, festivals, and exhibitions across more than 13 countries. Box New York, NY The combined enterprise creates an unrivaled tech-enabled golf company delivering leading golf equipment, apparel and entertainment.
Topgolf is a leading tech-enabled golf entertainment business, with an innovative platform comprised of its groundbreaking open-air venues, revolutionary Toptracer technology, and innovative media platform.
Callaway is a leader in the global golf equipment market with a scale position in active-lifestyle soft goods and a proven ability to deliver strong results. This transformational merger has already created and will continue to create meaningful shareholder value. We are very excited to begin this next chapter and I cannot wait to see what we can accomplish together. Our dedicated team of associates, groundbreaking Toptracer technology, and proprietary venues and media platforms have transformed the intersection of sports and entertainment.
Together with Callaway, Topgolf has the opportunity to build upon its rapid growth story, bring the Topgolf experience to new communities and advance our mission of making golf a more inclusive and accessible game. Immediately following the merger, Callaway shareholders owned approximately Dolf Berle will continue to lead the Topgolf business through a transition period, at which time he intends to step down to pursue other leadership opportunities. The combined company will be headquartered in Carlsbad, California with Topgolf continuing to operate from its headquarters in Dallas, Texas.
The RSU awards will vest and the restrictions will lapse in three equal annual installments commencing on the one-year anniversary of the grant date, subject to continued employment through each applicable vesting date.
The PSUs will vest after three years based on performance against certain corporate financial objectives over a three-year performance period beginning January 1, and ending December 31, The number of shares earned under the PSUs may be , in the aggregate if maximum performance is achieved during this three-year period.
However, final vesting of the PSUs will not occur until the third anniversary of the grant date, following the end of the three-year performance period, and will be subject to continued employment through that date.
Through an unwavering commitment to innovation, Callaway manufactures and sells premium golf clubs, golf balls, golf and lifestyle bags, golf and lifestyle apparel and other accessories.
For more information please visit www. Topgolf Entertainment Group is a technology-enabled global sports and entertainment leader built on a foundation of community, inclusivity and fun. What started as a simple idea to enhance the game of golf has grown into a movement where people from all walks of life connect at the intersection of technology and sports entertainment.
To learn more about Topgolf, visit www. Investors: Brian Lynch Patrick Burke invrelations callawaygolf. This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of , as amended, and Section 21E of the Securities Exchange Act of , as amended.
Such forward-looking statements include, but are not limited to, statements about the benefits of the merger with Topgolf, including the anticipated operations, financial position, liquidity, performance, prospects, competitive advantages, shareholder value or growth and scale opportunities of Callaway, Topgolf or the combined company, the strategies, prospects, plans, expectations or objectives of management of Callaway or Topgolf for future operations of the combined company, continued demand for and accessibility to golf, and statements of belief and any statements of assumptions underlying any of the foregoing.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
The foregoing list is not exhaustive. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Callaway undertakes no obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Over the past five years, Node4 has achieved strong organic growth through significant new customer wins and the provision of a broader range of information and communications solutions to its existing clients. During this period, significant investment has been made in people, systems, skills and the product portfolio, which has positioned Node4 to capitalise on the opportunity for cloud-led digital transformation growth.
Node4 is now better positioned to deliver enhanced cloud managed services throughout the UK in addition to expanding its operational presence in Scotland, the North West and South East England. Node4 provides advanced, cloud-led digital transformation solutions that empower UK businesses to do more. Delivering end-to-end hybrid solutions, Node4 draws upon its broad portfolio of managed public and private cloud, security and collaboration services, as well as cloud enablers including colocation and connectivity.
Modular solutions, along with transformation services, are designed to support businesses at any point in their cloud journeys.
Node4 was recently included in the Microsoft Azure Expert MSP program, awarded to the most high- fidelity cloud managed service providers. Node4 has nationwide capabilities, with its own data centres in Derby, Leeds and Northampton, and points of presence in London and Manchester. Since the firm's inception in , Providence has invested in more than companies and is a leading equity investment firm focused on the media, communications, education, software and services industries. Bowmark Capital is a leading private equity investment firm specialising in UK mid-market companies.
The Bowmark team has extensive experience of investing in growth companies and has supported businesses in a range of industries including business services, financial services, media, technology, consumer and leisure, education and training, and healthcare. For more information, visit: www.
This award underscores the strength and high caliber of MASMOVIL, an outstanding business in which Providence has been a shareholder for 5 years through several successful transactions. In the episode, Mr. Parsons discusses his journey to the top of the business world as one of the first Black CEOs, his economic outlook for the new year and the division in American society, including the January 6th raid on the U.
You can watch Mr. TROY, Mich. Providence will partner with current investor McCarthy Capital and the Company's management team to seek to advance the unattended retail market industry, fuel product development and customer services, and continue to accelerate growth. Founded in , Retail Markets provides a full suite of self-service technologies for food service operators.
Today, the Company's technology solutions — end-to-end integrated SaaS software, payment processing and point of-sale hardware — power unattended food retail spaces at corporate offices, manufacturing and distribution facilities, and more, providing compelling foodservice options for consumers.
They are an excellent cultural fit with our team at , and we are thrilled to partner with them as we embark on this next chapter of our Company's growth. We are excited to partner with the team and look forward to adding lasting value in the years ahead.
Jennifer Hoh, a Managing Director at Providence, added, "The market opportunity presented by unattended retail is extremely exciting. About Retail Markets Retail Markets is the global leader of self-service technology and services for the Contract Foodservice industry. Through our combination of MicroMarket, vending, and dining technologies, we offer the best-in-class point-of-service platform for the workplace.
For more information about Retail Markets, visit www. Providence has a long history of successfully investing in the automotive technology sector. McCarthy Capital, headquartered in Omaha, NE, is focused exclusively on lower middle-market companies.
For more than 30 years, the McCarthy organization has been partnering with founders, families and exceptional management teams to support the growth of their companies. More information about McCarthy Capital can be obtained at www. The transaction will enable Axel Springer to focus even more on its growth and investment strategy in the jobs and real estate sectors, within its digital classifieds offering.
Together with Providence Equity Partners, we seek to build on this position and continue to develop the Company further in order to increase its value in the long term. At the same time, this transaction is in line with our growth and investment strategy in the Classifieds Media segment, where we want to focus on the two strong pillars of jobs and real estate.
The Consortium believes MASMOVIL represents an attractive investment opportunity because of its strong positioning in Spain, the increasing demand for greater quality and value for money in the Spanish telecommunications sector, and the range of growth opportunities available for the business over the medium-term. The experienced management team has demonstrated its ability to consistently deliver excellent results, even in fast changing environments.
Charles Chichester Tel. Prov-SVC sardverb. Cinven is a leading international private equity firm focused on building world-class global and European companies.
Cinven takes a responsible approach towards its portfolio companies, their employees, suppliers, local communities, the environment and society. For additional information on Cinven please visit www. KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies.
KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. Providence has a long history of investing in the telecommunications space in Europe and is currently a shareholder in both Masmovil and Bite The new investment will primarily be used to purchase shares from existing shareholders and a portion will be used to support continued growth in the business.
The backing from the new investor group comes as DoubleVerify continues to innovate and invest in new growth areas including media performance optimization and Connected TV analytics.
DoubleVerify expects the new investment round to close in the fourth quarter of About DoubleVerify DoubleVerify is a leading software platform for digital media measurement, data, and analytics.
Since , DV has helped hundreds of Fortune companies gain the most from their media spend by delivering best in class solutions across the digital advertising ecosystem, helping to build a better industry. The firm's fundamentally oriented investments focus primarily on the global internet, software, financial technology, consumer and industrial sectors.
The private equity strategy has a ten-year investment horizon and targets growth-oriented private companies. The public equity efforts emphasize deep due diligence on individual companies and long-term secular themes. Under the terms of the agreement, Callaway and Topgolf will combine in an all-stock transaction creating a global golf and entertainment leader. Topgolf is the leading tech-enabled golf entertainment business, with an innovative platform that comprises its groundbreaking open-air venues, revolutionary Toptracer technology and innovative media platform with a differentiated position in eSports.
Callaway is a leader in the global golf equipment market with a scale position in active-lifestyle soft goods and a proven ability to deliver strong returns, including company growth that has exceeded golf market growth for seven consecutive years. We've long seen the value in Topgolf and we are confident that together, we can create a larger, higher growth, technology-enabled global golf and entertainment leader.
Callaway's strong financial profile will enable the combined company to accelerate innovation, develop exciting new products and experiences, and create compelling value for shareholders, while providing the dedicated teams of both companies more opportunities to showcase their talents and complementary capabilities.
As part of Callaway, we plan to grow our leadership position by leveraging Callaway's brand reputation, industry relationships and financial strength to connect more communities around the world to the Topgolf experience. Callaway first invested in Topgolf in , and the companies have maintained a strong partnership since, including an exclusive golf partnership agreement at all Topgolf venues.
Topgolf has achieved rapid growth and strong customer engagement since its founding in , driven by several platforms, including:. Venues — The company's signature platform defined by its immersive gameplay, proprietary technology and local, high-quality food and beverage offers a unique social destination for all.
With its open-air, climate-controlled bays, Topgolf venues are structurally advantaged to benefit from consumer preferences for outdoor activities. Toptracer — A leading ball-tracing technology best known for transforming televised golf is now being brought directly to everyday golf.
By bringing professional tracing technology to mobile devices and driving ranges, Topgolf is enhancing the golf experience. The technology has been deployed to more than 7, range bays in three years representing approximately one percent penetration of the total addressable market. Media — With World Golf Tour, a leading mobile golf game with 28 million members as of , Topgolf has built a strong digital presence in the game of golf. The company's proprietary, in-house gaming capabilities also create innovative sponsorship and consumer engagement opportunities throughout Topgolf's community of players competing across the company's interconnected digital and in-person platforms.
Our track record of creativity and diversity of offerings will only grow stronger as part of Callaway, a global leader in the industry," said Erik Anderson, executive chairman of Topgolf. In addition to Callaway, the current Topgolf ownership includes Providence Equity Partners, WestRiver Group and Dundon Capital Partners, which added: "This is a natural combination that brings together two complementary businesses at the center of one of the most dynamic sports and entertainment experiences available today.
We are excited to support their continued growth as a united company. Callaway and Topgolf both delivered strong financial results immediately before the COVID pandemic and have since recovered ahead of expectations.
Both companies are well positioned to take advantage of both short- and long-term changes in consumer behavior as a result of the pandemic. This includes favorable trends in rounds played and growth in beginning and returning golfers as well as broader consumer preferences for outdoor activities. Topgolf is in the early stages of its growth with more than ten years of planned unit growth opportunity in its U.
The company has a proven ability to innovate to expand its addressable market and capture the potential of games and content on its interconnected platform. Upon completion of the merger, Callaway shareholders will own approximately Upon closing, the combined company's Board of Directors will consist of 13 directors, including three directors appointed by Topgolf shareholders. Dolf Berle will continue to lead the Topgolf business through a transition period following the close of the transaction, at which time he intends to step down to pursue other leadership opportunities.
The transaction is subject to the approval of the shareholders of both Callaway and Topgolf, as well as other customary closing conditions, including required regulatory approval. The parties expect to complete the transaction in early , subject to satisfaction of these conditions. Chip Brewer added: "The world is rediscovering golf in a way that has led to a record quarter for our company.
Both our golf equipment and soft goods businesses are recovering more quickly than we expected, and our third quarter projections reflect this momentum. Based on currently available information, the Company estimates the following results for the quarter ended September 30, Recover your password. Nearly there!
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