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Representative Transactions

RI Monthly Communications, Inc.
Providence, RI

Bay Capital acted as exclusive financial advisor to John J. Palumbo, Jr. in the acquisition of RI Monthly Communications, Inc. from the Providence Journal Company, a subsidiary of A.H. Belo Corp. of Dallas, TX.  In addition to the flagship RI Monthly Magazine, Rhode Island Monthly Communications publishes other local magazines, such as Rhode Island Monthly Bride, and does contract publishing, including the Rhode Island state travel guide and state highway maps.

Bay Capital assisted in all aspects of the negotiations with the seller and arranged the debt facility with The Washington Trust Company.

ConnectEDU, Inc.
Boston, MA

Bay Capital raised $8 million in Series B and $7 million in Series C equity financing to support ConnectEDU’s growth initiatives. ConnectEDU is the nation’s leading technology firm dedicated to providing students, educators and employers with comprehensive solutions to successfully navigate education and employment transitions.

Eagle-Tribune Publishing Co.
North Andover, MA

Bay Capital raised $80 million in senior debt financing to support Eagle-Tribune’s purchase of three community newspapers from Dow Jones & Co. The Eagle-Tribune operates the flagship Lawrence Eagle-Tribune daily newspaper (Lawrence, Massachusetts) and several other newspapers serving northern Massachusetts and southern New Hampshire with a total circulation of 100,000.

Bay Capital arranged a four bank syndicate led by Wells Fargo, with Key Bank, GE Capital and Citizens Bank participating.

New Wave Communications
Sikeston, MO

Bay Capital raised a total of $25 million in debt and equity for this newly established cable television firm. The financing was used in support of New Wave’s acquisition of approximately 20,000 cable television subscribers from Charter Communications in the southeast United States.

Bay Capital successfully raised private equity from Wachovia Capital Partners and senior debt from MCG Capital.

Davler Media Group
New York, NY

Bay Capital assisted entrepreneur, David Miller, in the purchase of New York City based, City Guide magazine. Bay Capital, in addition to raising the acquisition financing, assisted in negotiating the terms of the transaction on behalf of the buyer.

Bay Capital raised private equity from Alta Communications and senior bank financing from Commerce Bank (New Jersey).

Dover Saddlery, Inc.
Littleton, MA

Bay Capital assisted the company in refinancing an existing mezzanine loan in order to lower its cost of capital.

Bay Capital raised $3.5 million in mezzanine debt from Patriot Capital Funding, which, subsequently, was increased to $8 million in a follow-on financing.

Dover Saddlery (DOVR; NASDAQ) is the premier catalog and retail company serving the English equestrian and Western riding segments.