PE Firm Slate Capital Buys Sports Broadcasting Company from L-3 Communications
Baltimore private equity firm Slate Capital Group is buying Broadcast Sports Inc. from L-3 Communications (NYSE: LLL).
Broadcast Sports, headquartered in Hanover, Maryland, provides wireless technology and communication services for sports television broadcasting, including the Olympics, Daytona 500 and the America's Cup. Terms of the deal were not disclosed. The company will operate as Broadcast Sports International LLC after the transaction closes.
Slate invests in lower middle-market companies with Ebitda between $2 million and $10 million. In March, the firm sold DoublePositive Marketing Group Inc., a Baltimore-based online marketing company that provides services to buyers, sellers and direct-response advertisers, to Output Services Group. Lincoln International advised DoublePositive on the sale.
The firm's other investments include Rochester, New Hampshire marketing company ECoast Marketing, and Minneapolis-based meal preparation and delivery company Let's Dish.
Also in the broadcasting realm, television stations have been attracting buyers. Recent deals in that space include Fox Television Stations Inc.'s purchase of two San Francisco-Bay area TV stations in October, and Heartland Media LLC and MSouth Equity Partners' deal for a Mississippi station in September.