Presidio Investors Announces Sale of Podium Entertainment to Flexpoint Ford and Shamrock Capital

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Postmedia has not reviewed the content. by Business Wire Presidio Investors Announces Sale of Podium Entertainment to Flexpoint Ford and Shamrock CapitalAuthor of the article:Sale to leading investment firms Flexpoint Ford and Shamrock Capital marks successful realization of Presidio’s investment in PodiumTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountAUSTIN, Texas — Presidio Investors (“Presidio”), a lower middle market private equity firm, today announced the sale of Podium Entertainment (“Podium”) to Flexpoint Ford and Shamrock Capital, with GoldState Music joining as a minority investor. Podium, headquartered in Los Angeles, California, is a leading independent publisher committed to discovering, developing, and amplifying the works of both emerging and bestselling authors, representing more than 3,000 authors today. Podium is the audiobook industry’s third-largest publisher, having grown its catalog from roughly 1,200 titles in 2019 to more than 15,000 titles today.Presidio first invested in Podium in 2019, when the company was an early-stage, founder-led audiobook publisher. Over more than six years of partnership — with Karl Schade, Victor Masaya, Dirk Swaneveld, and Mark Goldman serving on Podium’s board of directors — Presidio worked alongside CEO Scott Dickey and management to scale the company’s data-driven IP acquisition engine, establish a commanding position in the fantasy, romance, and science fiction genres, and expand the platform beyond audio into ebook and print formats, including through the acquisition of Bookstat and new distribution agreements with Ingram, Audible, and eleven additional retailers.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againPodium’s proprietary technology platform is expected to drive continued growth. The company holds leadership positions across its core genres, ranking as the 2nd largest publisher of romance audiobooks and the 1st largest publisher of science fiction & fantasy audiobooks in the United States, a leadership position built on a production team of more than 1,500 narrators and 100+ employees.In connection with the transaction, David Kaefer, former Spotify executive, will join Podium’s Board of Directors. Additionally, Podium is partnering with Ownership Works, “a nonprofit organization on a mission to increase prosperity through shared ownership at work,” to establish a program giving all Podium employees an ownership stake in the company as it enters its next phase of growth.“This is a proud moment for everyone who has been part of the Podium journey since 2019, and we’re excited for what comes next,” said Karl Schade, Managing Partner of Presidio Investors.“We are incredibly proud of the work we’ve accomplished to date on behalf of the thousands of authors and voice actors Podium represents, and alongside the tremendous support we received from Presidio Investors since 2019, but this is just the beginning of our story,” said Scott Dickey, Chief Executive Officer of Podium Entertainment. “Partnering with the Flexpoint, Shamrock, and GoldState teams represents an opportunity to rapidly extend our capabilities for the authors and storytellers who trust us every day to deliver their stories and grow their audiences. We firmly believe in Podium’s differentiated author service model which is built to attract, support, and retain the best storytellers in the world.”LionTree Advisors and FTI Consulting served as financial advisors, and Ballard Spahr served as legal counsel, to Podium and Presidio in connection with the transaction. MNP and Deloitte served as tax advisors to Podium. Flexpoint was advised by Lazard and Latham & Watkins. Paul Weiss advised Shamrock. KPMG served as buy-side financial advisor.About Podium EntertainmentPodium Entertainment is a leading independent publisher committed to discovering, developing, and amplifying the works of both emerging and bestselling authors. Founded in 2019, Podium is now one of the largest audiobook publishers in the world and has produced multiple New York Times, USA Today, and Audible bestsellers. For more information visit podiumentertainment.com.Presidio Investors is a leading Austin, Texas-based private equity firm investing in quality businesses in the lower middle market. Presidio makes control investments in growing, niche companies and employs a collaborative approach to help grow and develop businesses to produce excellent returns for all stakeholders. Presidio principals have decades of private equity investing and operating experience, and the firm is committed to a technology-forward approach to value creation, partnering with its portfolio companies to deploy AI and modern operating tools that drive efficiency and growth. To learn more about Presidio, please visit www.presidioinvestors.com.View source version on businesswire.com: This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. 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