Canadian Press Release Firm CCNMatthews Bought By PE Firms; Includes MarketWire


The consolidation in the press release distribution business now moves from U.S. to Canada: Omers Capital Partners, the private equity arm of Canadian pension fund Omers, has bought Toronto-based news release distributor CCNMatthews for cash, but terms were not disclosed. Manulife Capital, the private equity group of Manulife Financial, will take a minority stake in CCNMatthews as a portfolio investment.
CCNMatthews distributes news releases, multimedia content and photos to media outlets and investors in North America. Along with its U.S. unit MarketWire (which it bought a few months ago), it issues more than 90,000 press releases a year on behalf of companies, governments, non-profit and other groups. Its former owner was the London-based Pims Group, which acquired CCNMatthews in 2001. More details in the release here.
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