Corridor Capital has acquired controlling interest in Create & Cultivate LLC in a transaction valued at up to $22 million to support the company’s growth trajectory and focus on delivering career-related impactful events, information and networking for women.
The leadership team, inclusive of CEO and founder Jaclyn Johnson, COO Neha Kumar and general manager Samantha Oullette, will remain with the business in their current roles and are excited to partner with Corridor to accelerate the company’s growth. Moreover, Jaclyn will remain a material owner of the business.
“I have been extremely impressed with Jaclyn and the C&C team, and share an unyielding commitment to supporting the amazing women in our workforce as they seek to expand their horizons and live their best professional lives. We see in Create & Cultivate a market leader providing high quality virtual and in-real-life experiences, interactions, learnings and opportunities for women,” commented Craig Enenstein, founder of Corridor Capital. “We strive to align with talented leaders and since 2014, 40 percent of the companies backed by Corridor have been led by women CEOs with many more women in those companies’ C-suites. We have had the privilege of working with amazing female leaders across an array of industries and look forward to allying with Jaclyn, Neha, Sam and the entire C&C team.”
“This new chapter with Corridor is the natural next step for Create & Cultivate. We’ve been growing aggressively since inception and with this new partnership we are able to fast track our plans on becoming the largest media company by women for women,” said Johnson. “Create & Cultivate’s mission is to entertain, inspire and educate women on how to create and cultivate the career of their dreams. This mission has taken on even more meaning in a COVID-19 world where women are leaving the workforce in droves due to lack of child care resources and female-owned small businesses are shutting down at rapid pace. Create & Cultivate has become the go-to resource for millions of women looking to navigate this time through mentorship, content and experiences that educate and provide advice from experts, CEOs, content creators and celebrities at the forefront of their industries. With Corridor’s partnership, we aspire to drive broader and more comprehensive engagement for our audience.
True West Capital Partners, a private investment firm which provides flexible capital to middle-market companies in the U.S., provided debt and equity financing in support of the investment.
Access Media Advisory LLC performed investment banking services for C&C. Katten Muchin Rosenman LLP served as legal advisor to C&C. Morgan, Lewis & Bockius served as legal advisor to Corridor. Duff & Phelps provided Corridor with financial diligence support.