Ridgemont Equity Partners has made an investment in Simpleview, a provider of software and digital marketing services to destination marketing organizations. The management team of Simpleview, led by CEO Ryan George and President Rich Reasons, will continue to run the business and has invested alongside Ridgemont in the transaction.
Simpleview provides a cloud-based technology platform which connects destination marketing organizations to travelers, meeting planners, and local businesses (a destination marketing organization (DMO) promotes a town, city, region, or country in order to increase the number of visitors. It promotes the development and marketing of a destination, focusing on convention sales, tourism marketing, and services). Simpleview’s services include customer relationship management software, content management systems, forecasting and reporting tools, websites, mobile sites, search engine optimization and interactive marketing services. Simpleview works with more than 200 US and international DMOs. The company is headquartered in Tucson, AZ (www.simpleviewinc.com).
“Ridgemont’s investment in Simpleview is a natural addition to our fund,” said George Morgan, a Partner at Ridgemont. “Our team has been actively seeking opportunities to invest in vertically-focused software-as-a-service businesses, and the reputation that Simpleview has built as a forward-thinking market leader, coupled with our financial and operational discipline, will be essential elements in the execution of the company’s promising growth plans.”
Ridgemont Equity Partners (formerly Banc of America Capital Investors) focuses on middle market buyout and growth equity investments of $25 million to $75 million. The firm invests in the following sectors: basic industries and services; energy; healthcare; and telecommunications/media/technology. Ridgemont Equity Partners is headquartered in Charlotte, NC (www.ridgemontep.com).
“Our partnership with Ridgemont enables Simpleview to grow by scaling our already robust service offering and expanding our customer reach, both nationally and globally,” said Ryan George, CEO of Simpleview. “We are very excited to join forces with this experienced investment team and anticipate an even brighter future for our company, the destinations that we serve, and the tourism industry overall.”
ArchPoint Partners (archpointpartners.com) served as exclusive financial advisor to Simpleview and Silicon Valley Bank provided financing for the transaction.
© 2013 PEPD • Private Equity’s Leading News Magazine • 4-9-13