Huntington Capital Fund II, LP (“Huntington”), a San Diego based lower-middle market focused private equity mezzanine fund, is pleased to announce its investment in Crescent House Publishing Inc. (dba Scentsa) and Scentsa Media Networks Inc., a Carlsbad, California located company. The Series A equity financing was provided to facilitate the deployment of High Definition LCD digital media screens for out of home advertising into Barnes & Noble College bookstores. Barnes & Noble College Booksellers, is the nation’s leading operator of college and university bookstores, and a wholly owned subsidiary of Barnes & Noble, Inc. the world’s largest bookseller.
The College Bookstore Media Network will provide live, high definition media streams to stores and will present a wide array of content specifically designed for college students. Using both local and national sources, the program will feature eye-catching videos, news briefs, sports, local weather, and university updates to enhance the student and faculty in-store experience. This is just the latest example of the college retailer taking a leadership position with its use of new and emerging media to engage the student marketplace. Beginning this month and continuing through summer, multiple large LCD screens will be placed in high traffic areas of some of Barnes & Noble’s highest enrolled national campuses including Harvard University, Northwestern University, Texas A&M, Ohio State University, Penn State University, University of Central Florida, and Yale University.
“The out of home digital media market represents a dynamic growth opportunity for Crescent House Publishing as the college demographic served by Barnes & Noble is highly sought after by leading digital advertisers,” says Tim Bubnack, Huntington Capital Partner, “We are equally pleased with the team’s ability to develop and launch new Scentsa software products and services for retailers and brand managers designed to enhance the client’s in-store buying experience.”
“We are glad to continue business with Huntington Capital, whose financial guidance and business insight has helped our business grow,” says Steven Fish, Co-CEO of Crescent House Publishing Inc., “We have the utmost respect for the Huntington Capital team and look forward to building our business with them in the future”.
For more information on Scentsa or Crescent House Publishing Inc. visit www.scentsa.com.
About Barnes & Noble, Inc.
Barnes & Noble, Inc. (NYSE:BKS), the world’s largest bookseller and a Fortune 500 company, operates 705 bookstores in 50 states. Barnes & Noble College Booksellers, LLC, a wholly-owned subsidiary of Barnes & Noble, also operates more than 630 college bookstores serving nearly 4 million students and 250,000 faculty members at colleges and universities across the United States. Barnes & Noble conducts its online business through Barnes & Noble.com (www.bn.com), one of the Web’s largest e-commerce sites, which also features more than two million titles in its NOOK Bookstore(tm) (www.bn.com/ebooks). Through Barnes & Noble’s NOOK(tm) eReading product offering, customers can buy and read eBooks on the widest range of platforms, including NOOK eBook Readers, devices from partner companies, and hundreds of the most popular mobile and computing devices using free NOOK software.
General information on Barnes & Noble, Inc. can be obtained via the Internet by visiting the company’s corporate website: www.barnesandnobleinc.com.
Based in San Diego, CA, Huntington Capital is a leading mezzanine capital provider to lower middle market companies throughout California and the Southwestern United States. Founded in 2000, Huntington is currently operating out of its second fund, Huntington Capital Fund II, which it raised in 2008 with capital commitments from a group of leading institutional investors. Huntington seeks to invest in established lower middle market businesses generating between $10 million and $75 million in revenues across a broad range of industries; investments are typically structured in the form of growth capital, buyout or acquisition financing ranging between $2.0 million and $6.0 million. The firm has invested in approximately 35 companies since its founding. Partners Morgan Miller, Barry Wilson and Tim Bubnack lead Huntington’s management team. For more information, please visit the company website at www.huntingtoncapital.com.