- Neil Aresty, Co-Founder and President, Lextranet
Recent Transaction
Mirus Capital Advisors Represents Audax Group & TMP Directional Marketing on the Sale of Moving.com to Homestore, Inc.
Contact:
Jamie Grant
Location: Boston, Massachusetts
Date: Feb 22, 2006
Boston, MA, February 22, 2006 - Mirus Capital Advisors, Inc., a middle-market investment bank, announced today that it has advised TMP Directional Marketing, LLC ("TMP") on the divestiture of Moving.com, a leading web portal focused on moving related services, in a sale transaction to Homestore, Inc. (“Homestore”). Mirus represented TMP, Moving.com, and their principal shareholder Audax Group in initiating and structuring the transaction.
Moving.com provides consumers with offers from qualified movers, truck rental and self-storage providers, as well as access to a sophisticated mortgage rates directory. Homestore, which announced that the Company is changing it’s name to Move, Inc., also announced that Moving.com's move-related tools, including their lender directory, will be integrated by Homestore to improve the consumer experience at Move.com, Realtor.com and Welcome Wagon. Moving.com's "Find an Apartment" functionality will be powered by Homestore's new property search tool.
Stuart McKelvey, CEO of TMP, said, “Mirus did an excellent job identifying and qualifying potential partners, negotiating the deal and managing the due diligence process. Ultimately, they generated a superior result for both TMP and the team at Moving.com.” McKelvey went on to say that “TMP Directional Marketing can now focus exclusively on assisting our Yellow Pages client base manage the evolution of consumer search behavior across print and online media.”
In a statement from Homestore, Inc., the Company’s CEO Mike Long added, "These exciting new offerings are designed to ensure that Realtors, home builders, rental owners and other move-related advertisers can easily and effectively reach a large and growing consumer audience."
About TMP Directional Marketing, LLC
TMP is the leading certified marketing representative placing advertising for its national clients into Yellow Pages directories and Internet based digital directories. The Company has 800 employees in 20 offices across the United States, Canada and Japan and places $500 million of advertising annually for 1,700 national clients. For more information, visit www.tmpdm.com
About Audax Group
Audax Group, founded in 1999, is a leading investor in middle market companies. With offices in Boston and New York, Audax manages in excess of $2 billion in equity and mezzanine debt capital. For more information visit the Audax Group website http://www.audaxgroup.com
About Homestore, Inc.
Homestore, Inc. offers a wide variety of information and decision support tools for consumers looking for home and real estate-related information on the Internet. The Company operates the No. 1 network of real estate sites, including Realtor.com, the official Web site of the National Association of Realtors and HomeBuilder.com(TM), the official new homes site of the National Association of Home Builders. RENTNET®, SeniorHousingNet(TM), FactoryBuiltHousing.com, and Homestore.com® are part of the Homestore network as well. Homestore is also a leading supplier of media and technology solutions for real estate professionals, local and national advertisers, and providers of home and real estate-related products and services. Homestore's other businesses include Homestore® Plans and Publications, Welcome Wagon®, and TOP PRODUCER® Systems. On the Net: http://ir.homestore.com.
REALTOR® and REALTOR.com® are registered trademarks of the NATIONAL ASSOCIATION OF REALTORS®. REALTOR® is a federally registered collective membership mark, which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics.
About Mirus Capital Advisors
Mirus Capital Advisors provides investment banking solutions to corporate clients in the areas of software, online media, business services and niche manufacturing. Founded in 1987, Mirus provides corporate finance advisory services on engagements including mergers, acquisitions, divestitures and recapitalizations. Additional information about the firm is available at www.merger.com.
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