Capitus Group was engaged by James R. Bates, founder and owner of Interstate Publishers Inc. to represent the company and execute a sale of the business. The Capitus Group team, led by Cameron Bishop, provided advisory services involving Offering Memorandum development, diligence material preparation, data room management, prospective buyer sourcing and negotiation of key business terms related to the agreement with buyer.
Interstate Publisher’s Inc. is based in Prairie Village, KS and has been publishing 7 state editions of the Midwest Travel Buddy guides for nearly 20 years. These unique travel guides provide interstate highway travelers with invaluable information on hotel/motel locations, special pricing and discount programs. Interstate traveler reliant hotels have come to rely on Midwest Travel Buddy guides to increase occupancy rates. The company boasts nearly a 90% client retention rate.
Research indicates that over 60% of highway travelers do not make hotel reservations in advance so these guides are highly prized by travelers. And, each state edition is published two times per year with total reach nearing 850,000 readers.
The company was purchased by Paradise Point Publishing. The company was formed by Vanessa Rose Westmoreland in order to make the acquisition. Prior to forming Paradise Point Publishing, Vanessa was a 10-year media sales executive with the Kansas City Star.