Kennedy Wilson Completes Sale of Meyers Research, LLC
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--
Global real estate investment company Kennedy
Wilson (NYSE: KW) today announced the sale of its research
subsidiary, Meyers Research, LLC (“Meyers”). Meyers is a leading
provider of data for residential real estate development and new home
construction through its mobile-first platform, Zonda, and a leading
advisor to the real estate development industry.
The Irvine-based company was acquired by MidOcean Partners (“MidOcean”),
a premier middle market private equity firm focused on the business
services and consumer sectors. In conjunction with its acquisition of
Meyers, MidOcean also acquired Hanley Wood, a leading B2B media and
information services company serving the U.S. residential construction
industry, which simultaneously merged with Meyers. Kennedy Wilson
re-invested $15 million, a portion of its profits, into a minority
investment in the newly combined company.
“The data and insights provided by the Meyers Research team have been a
tremendous asset to Kennedy Wilson as we’ve grown into new markets over
the past six years. We believe Jeff Meyers and his talented team will
have continued growth opportunities under MidOcean’s stewardship and we
look forward to continuing our partnership,” said Matt Windisch,
Executive Vice President of Kennedy Wilson, who is a member of the Board
of Directors for the new company. “This sale is part of Kennedy Wilson’s
broader strategy to focus on our core business, with an emphasis on
increasing our cash flow through the completion and lease-up of our
development projects as well as growing our investment management
platform globally.”
When Meyers and Kennedy Wilson joined forces in 2012, Meyers had 12
employees in one office with annual revenues of less than $2 million.
Since then, Meyers has grown to nearly 150 employees in 10 offices with
annual revenues of approximately $16 million.
During Kennedy Wilson’s ownership, Meyers Research launched Zonda, its
flagship platform that provides housing market insights backed by
real-time data. Zonda delivers historic trends and forecasts, quick
insights, visual data storytelling tools, curated housing analysis and
exportable data used by sales and marketing professionals, land
acquisition executives, developers and institutional investors to make
well-informed decisions about housing market needs and goals.
About Kennedy Wilson
Kennedy Wilson (NYSE:KW) is a global real estate investment company. We
own, operate, and invest in real estate both on our own and through our
investment management platform. We focus on multifamily and office
properties located in the Western U.S., UK, and Ireland.
For further information on Kennedy Wilson, please visit: www.kennedywilson.com.
Special Note Regarding Forward-Looking Statements
Statements in this press release that are not historical facts are
“forward-looking statements” within the meaning of U.S. federal
securities laws. These forward-looking statements are estimates that
reflect our management’s current expectations, are based on assumptions
that may prove to be inaccurate and involve known and unknown risks.
Accordingly, our actual results or performance may differ materially and
adversely from the results or performance expressed or implied by these
forward-looking statements, including for reasons that are beyond our
control. Accordingly, you should not unduly rely on these statements,
which speak only as of the date of this press release. We assume no duty
to update the forward-looking statements, except as may be required by
law.
KW-IR

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Source: Kennedy Wilson