Situation
Fortis Business Media, LLC (d/b/a BLR), headquartered in Brentwood, TN, is a leading provider of compliance and training solutions in the B2B arena.

Objective
Matrix was retained by BLR to pursue a recapitalization of the business, with the objective of selling a majority of the founder’s ownership interest and finding a financial partner to support the growth trajectory of the business.

Solution
Matrix marketed the business to a broad universe of generalist private equity buyers and limited number of private equity buyers with relevant assets/portfolio companies.

Received multiple initial indications of interest and several letters of intent, providing the Company’s Board of Directors and management team the opportunity to select from a menu of diverse options/structures.

Completed a recapitalization with the Company’s existing mezzanine lenders that included the redemption of a significant portion of the ownership interest of its founder and largest shareholder.