Breakwater Provides Follow-On Growth Equity Investment into Alpha Media

Private investment firm backs Portland-based radio broadcasting company in successful $12 million growth equity raise, to increase nationwide footprint to 96 radio stations.

LOS ANGELES, April 2015 – Breakwater Management, LP (“Breakwater”) has co-led a $12 million follow-on growth equity investment into Breakwater portfolio company Alpha Media Holdings LLC(“Alpha Media”), alongside existing investor Stephens Capital Partners. Breakwater is a Los Angeles-based private investment firm that specializes in direct investments in leading middle market businesses that demonstrate attractive opportunities for growth.

Headquartered in Portland, Oregon, Alpha Media currently owns or has pending ownership of 96 radio stations in 18 markets across the United States.

Radio veteran Larry Wilson, Chairman of Alpha Media, said: “Alpha Media is a growing radio broadcast media company with a passion for great radio and digital content. This additional equity financing from Breakwater and Stephens Capital Partners will support our ongoing expansion through further strategic acquisitions, while we continue to remain true to our philosophy of working with our local communities and keeping radio Live and Local in each of our markets.”

“We are extremely pleased to have co-led this $12 million equity investment together with Stephens Capital Partners,” said Saif Mansour, founder and Co-Managing Partner at Breakwater. “We provided additional growth equity capital to support Alpha Media’s acquisition program and complement our growing national network of broadcasting assets. Larry Wilson and his team are successfully building a high-growth nationwide market leader in the radio broadcasting industry, and we look forward to continuing to support their expansion plans.”

Prior to Alpha Media, Larry Wilson founded Citadel Communications in 1984, starting with only two radio stations. In 2001, Citadel Communications was sold to Forstmann Little with over 200 stations for $2.1 billion. Larry and his team are now looking to repeat their previous remarkable success under the Alpha Media platform.

ABOUT BREAKWATER MANAGEMENT, LP

Breakwater Management is a private investment firm that makes direct equity and debt investments in leading lower middle market growth companies. The firm aligns itself with committed management teams, owners, and sponsors, providing both capital and operating expertise to propel emerging businesses into their growth curve. Breakwater is a diversified alternative asset manager that offers independent and institutional investors access to multiple investment vehicles that serve the lower middle market’s growth capital needs.

To learn more about Breakwater, visit www.breakwatermgmt.com or call (424) 777-4000.

 

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Dear friends,

It is with profound sadness that we relay news of the recent death of our partner Saif Mansour. Saif passed away suddenly on October 27th due to an undiagnosed heart condition.

Saif founded Breakwater in 2009 as a young entrepreneur, with the vision of creating an investment firm that reflected his commitment to excellence, integrity, and long-term partnership. He was an incredibly intelligent, energetic, kind, and charismatic person, and a great connector of people who brought joy to everyone who knew him. He was a talented investor, a wonderful friend, and a natural leader.

Saif’s passion for Breakwater was surpassed only by his enormous love for his wife and their two young children. We grieve with them and extend our deepest sympathies to all of his family and friends.

We are heartbroken by this terrible loss but will honor Saif’s memory by continuing to build a firm that reflects his entrepreneurial spirit and core values. May his memory be a blessing to us all.

Sincerely,
The Breakwater Family

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