Firecrown Acquires Multiple Brands From Kalmbach Media

In what has become one of its largest M&A deals to date, Firecrown Media announced today that it had acquired the railroad and space brands owned by Kalmbach Media. Brands include Trains, Model Railroader, Astronomy, and more.

While Firecrown wouldn’t reveal what they paid, CEO Craig Fuller said that the business generated more than $20m in revenue and that “3-5x EBITDA is my typical range” when acquiring brands. He told AMO that the deal was funded with “personally guaranteed bank debt at a 7.25% interest rate.”