Stagwell Media LLC Secures $260 Million Investment From AlpInvest Partners
WASHINGTON, Aug. 14, 2018 /PRNewswire/ — The Stagwell Group and AlpInvest Partners today announced the completion of a $260 million capital raise by Stagwell Media LLC from investment funds managed by AlpInvest Partners, a global private equity investor. Since its founding in 2015, Stagwell Group has completed seventeen investments and is on track for more than $400 million in consolidated net revenue this year. The new investment will support Stagwell’s strategy of building a network of innovative marketing and research companies.
“The marketing landscape is in the midst of a dramatic transformation and we are excited to have AlpInvest support our mission in creating a network of strategists and tacticians that is nimble and digital-centric, building a go-to resource for brands looking to succeed in today’s complex marketplace,” said Mark Penn, Managing Partner of the Stagwell Group. “We created Stagwell as a meaningful alternative to the holding companies, aptly named, since they have long been holding brands back from delivering on their full potential in a digital-first world.”
“Stagwell has demonstrated a superior operating model. Over the past three years, Mark and his team have built a highly attractive portfolio of world class digital-first marketing companies that drive significant results for brands,” said Michael Hacker, Managing Director, AlpInvest Partners.
“We are thrilled to support Stagwell through this secondary transaction at a key a moment in their development, as their portfolio continues to expand rapidly with exciting new capabilities and geographic reach that will allow Stagwell to compete on a global basis,” said Julian Rampelmann, Managing Director, AlpInvest Partners.
Management of the Stagwell Group remains the same. Further details of the transaction were not announced.
Mercury Capital Advisors served as the exclusive financial advisor to the Stagwell Group.