Inman acquired by private equity firm Beringer Capital
Beringer plans to keep existing staff, double its size; founder Brad Inman will retain minority stake
After 25 years, Brad Inman is selling his eponymous media company.
Inman will be sold to Beringer Capital, a Toronto-based private equity firm, the publication announced Monday. Terms of the deal were not disclosed.
Brad Inman, 68, will maintain a minority ownership stake as well as a board seat, and will “stay involved with the Inman community,” according to the announcement.
Inman’s existing staff, including its current leadership, will remain in place, Beringer managing partner Lu Cacioppo told Inman reporter Jim Dalrymple, adding that Beringer hopes to double the publication’s size.
Brad Inman said the acquisition will allow for additional journalists at the company and expansion into new verticals and coverage areas, such as digital transactions, titles and mortgages.
Inman, who founded his namesake publication from his kitchen table 25 years ago, also founded ClimateCheck — a search engine that monitors specific properties’ exposure to climate change — and, among other ventures, was an early investor in Curbed before it was sold to Vox Media in 2013.
Beringer Capital has dabbled in the media business before. In July 2016, the company acquired the media and advertising trade publication Adweek. Their ownership lasted less than four years, as they sold Adweek to Shamrock Capital in June 2020.
Beringer specializes in middle-market companies it believes are poised to benefit from digital transformation, according to its website. Its current investments include affiliate marketing firm Perform[cb] and artificial intelligence company HyperGiant.
[Inman] — Holden Walter-Warner