November 30, 2023
Willkie represented Ariel Alternatives, LLC in its acquisition of a 58.5% stake in My Code, a leading multicultural media and marketing services company, from existing shareholders Falfurrias Capital Partners, My Code management and employees and other investors at an enterprise valuation of $400 million, based on current and future performance projections.
My Code offers solutions to brands that meet the rapidly growing need for multicultural marketing, with a mission to build a future for media and advertising where everyone is authentically represented. Formerly known as H Code, the company was initially created to provide offerings for advertisers to reach U.S. Hispanic consumers. Since its launch, My Code has expanded its products to address Black, AANHPI and LGBTQIA+ audiences, among others. The company’s network includes a collection of over 1,200 consumer media platforms that reach diverse audiences, in addition to owned and operated properties such as: 110-year-old El Diario, the U.S.’s oldest Spanish-language newspaper; Remezcla, one of the most influential digital media brands for the Latine community; and advertising-based video on demand platform Butaca TV.
Ariel Alternatives is the private equity subsidiary of global asset manager Ariel Investments, LLC, the first African American-owned mutual fund company in the U.S. The acquisition of My Code is the third acquisition under “Project Black,” Ariel Alternatives’ strategic initiative and $1.45 billion inaugural fund to create scalable, sustainable minority-owned businesses to services the Fortune 500. Through its portfolio companies, Project Black plans to close the racial wealth gap by aiming to generate jobs and economic growth within underrepresented communities.
The Willkie deal team was led by partner A. Mark Getachew, and included counsel Emerson Girardeau and associates Zoe Sellman and Rishika Nallapareddy.
My Code offers solutions to brands that meet the rapidly growing need for multicultural marketing, with a mission to build a future for media and advertising where everyone is authentically represented. Formerly known as H Code, the company was initially created to provide offerings for advertisers to reach U.S. Hispanic consumers. Since its launch, My Code has expanded its products to address Black, AANHPI and LGBTQIA+ audiences, among others. The company’s network includes a collection of over 1,200 consumer media platforms that reach diverse audiences, in addition to owned and operated properties such as: 110-year-old El Diario, the U.S.’s oldest Spanish-language newspaper; Remezcla, one of the most influential digital media brands for the Latine community; and advertising-based video on demand platform Butaca TV.
Ariel Alternatives is the private equity subsidiary of global asset manager Ariel Investments, LLC, the first African American-owned mutual fund company in the U.S. The acquisition of My Code is the third acquisition under “Project Black,” Ariel Alternatives’ strategic initiative and $1.45 billion inaugural fund to create scalable, sustainable minority-owned businesses to services the Fortune 500. Through its portfolio companies, Project Black plans to close the racial wealth gap by aiming to generate jobs and economic growth within underrepresented communities.
The Willkie deal team was led by partner A. Mark Getachew, and included counsel Emerson Girardeau and associates Zoe Sellman and Rishika Nallapareddy.
