July 16, 2014 – New Canaan Funding ("NCF") provided financing to support the acquisition of Media Source, Inc. ("MSI"). New Canaan Funding ("NCF") provided subordinated notes and equity in MSI as part of this acquisition.
MSI, headquartered in Plain City, Ohio and founded in 1980, is a leading provider of editorial service, information, and content to libraries for grades Kindergarten through 12. MSI provides its services through four distinct, yet synergistic, brands: the Junior Library Guild ("JLG"), School Library Journal ("SLJ"), Library Journal ("LJ"), and The Horn Book Club ("THB").
New Canaan Funding, with offices in New Canaan, Connecticut and Wheaton, Illinois, is a mezzanine firm focused on the middle market private sponsor community. Since its beginnings in 1995, NCF has targeted acquisitions, recapitalizations and growth financings in conjunction with its private equity clients. NCF is currently investing out of its fifth fund. The investment in MSI represents NCF's fourteenth investment in the fund. This financing represents the first with The Vistria Group.