Spire Capital has made an investment in On Campus Marketing, an e-commerce provider of affinity programs for universities and colleges. This is the fifth investment that Spire has completed for its third fund.
Utilizing university-branded marketing, On Campus Marketing (OCM) sells more than 10,000 products such as dorm bedding, linens and towels, storage trunks, carpet, care packages, and diploma frames to college students and their parents. OCM is headquartered in Ewing, NJ (www.ocm.com).
Spire invests from $15 million to $40 million in companies with revenues of at least $10 million and EBITDAs of $5 million. Sectors of interest include business services, information services, media, education and communications. Spire is investing out of its third fund and has managed over $700 million in private equity commitments since its founding in 2000. The firm is led by partners Andy Armstrong, Bruce Hernandez, David Schaible and Sean White and is based in New York (www.spirecapital.com).
“OCM has built strong barriers to entry with more than 900 college and university relationships over the past thirty years providing the company timely access to over 80% of incoming college freshman,” said Anthony Cassano, a principal of Spire Capital.
OCM will use the proceeds from Spire’s investment to build its digital marketing and mobile e-commerce services and to expand its products to include logo apparel. “Given Spire Capital’s industry experience and knowledge, we are excited to partner with the firm in order to accelerate OCM’s growth,” said Mark Kuhns, CEO of OCM.
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 5-26-16
