A Parent Media Co. Inc. Closes Strategic Investment Round With TriWest Capital Partners With Valuation at Over CDN $600 Million
CALGARY, Alberta, June 22, 2022 (Newswire.com) - A Parent Media Co. Inc. ("APMC" or the "Company"), owner of kids' Safe Streaming™ services, Kidoodle.TV®, Glitch+, and Safe Exchange Inc., has announced the successful closing of an equity financing ("Financing") with TriWest Capital Partners ("TriWest"), one of Canada's leading private equity firms. APMC has raised over CDN $80 million of investment capital and is now worth over CDN $600 million.
In conjunction with the financing, TriWest's Managing Director, Jon Spencer, joined APMC's Board of Directors. "We are very pleased to welcome Jon Spencer to the Board and look forward to his insight and contributions to the Board's deliberations," said Michael Lowe, Dad, founder, and Chief Executive Officer of APMC. "We feel that this alignment validates the achievements we have made to date and our commitment to families globally in a time when protections for children are needed the most."
"Management's vision has allowed APMC to build industry-leading ad technology to provide solutions to open media platform problems, all while prioritizing the protection of children in a rapidly growing and changing industry. TriWest is excited to be part of the Company's next phase of growth and is proud to partner with a team committed to the family values APMC represents," noted Jon Spencer.
APMC's growth in recent years has been closely followed by Alberta's Minister of Jobs, Economy and Innovation, Doug Schweitzer. "I've previously noted that this Calgary-based entertainment company could be the next "Unicorn" in Alberta. I continue to be impressed by the success we have witnessed from this company and its role in diversifying the economy, employing highly trained personnel in tech and creative industries, and expanding economic opportunities. This is exactly what we hoped to achieve as we work to rebuild and diversify the Alberta economy."
The TriWest financing was initiated by Fred Mannix Jr., "This is a business for positive impact. As a father, it was important to me to stand behind the strong work ethic and commitment to safety for children that this company represents."
"As we face a period of time where child safety should be the most important conversation, we are committed to shifting the narrative," said Uncle, founder and APMC President, Neil Gruninger. "We are thrilled to have TriWest join the Kidoodle.TV family and worked hard to align with a finance partner that understands not only the opportunity but that families should come first. That's part of our DNA. Our family 'title' is deliberate because what we do for the future of our children matters in this world."
About APMC and Kidoodle.TV®
A Parent Media Co. Inc. is a family-based media and technology company focused on providing innovative solutions to consumers and brands, including Kidoodle.TV®, Glitch+, and Safe Exchange Inc. Kidoodle.TV is a Safe Streaming™ service committed to providing children with a safe alternative to stream their favorite TV shows and movies. Available in over 160 countries and territories on thousands of connected devices, Kidoodle.TV provides peace of mind, with every show* vetted by caring people who are committed to Safe and Free Streaming for Kids™. Kidoodle.TV is available on iOS, Android, Apple TV, Fire TV, LG, Samsung, VIDAA-enabled Hisense TVs, Chromecast, Roku, Vizio SmartCast Amazon, Jio, Xfinity X1, Connected TVs, HTML5 Web, and many other streaming media devices, including Miko 3. Kidoodle.TV is certified by the kidSAFE® Seal Program and is the proud recipient of the Mom's Choice Award®, a Stevie® Award, platinum winner of the Best Mobile App Award, and Parents' Picks Award - Best Elementary Products. Visit www.kidoodle.tv to learn more.
*Content availability varies by location.
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About TriWest Capital Partners
Founded in 1998 and based in Calgary, Alberta, TriWest is one of Canada's leading private equity firms, having raised over C $1.4 billion in committed capital through six funds. TriWest has successfully invested in 44 companies across a broad cross-section of the economy in partnership with their management teams. We work closely with our management partners, together proactively putting in place a strategy that maximizes growth potential and value creation by emphasizing operational excellence, prudent governance and an efficient capital structure. The principals of TriWest have significant operational and financial expertise, making us effective partners in creating shareholder value. For more information: www.triwest.ca
Source: A Parent Media Co. Inc.