BV Acquires Nonprofit Fundraiser
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BV Acquires Nonprofit Fundraiser

BV Investment Partners has acquired a majority interest in RKD Group, a provider of fundraising and marketing services to the nonprofit sector.

RKD Group services more than 260 nonprofit organizations, including hospitals, social service, health, disease research, animal welfare, and faith-based charities. The company utilizes a multichannel approach that leverages technology and data science to build long-term donor relationships, and drive online and offline engagements and donations. RKD Group, led by CEO Tim Kersten, has more than 200 employees and is headquartered in Dallas (www.rkdgroup.com).

“RKD’s fundraising services produce the ‘lifeblood’ of most nonprofit organizations – namely, individual donations. Their robust direct response offering, across digital and non-digital media, is supported by specialized in-house data analytics, strategic planning, donor segmentation, creative services, and customized reporting and insights,” said Mike Ricciardelli, a managing director of BV. “Additionally, the company is developing new software-based products that will further help nonprofit organizations better manage their fundraising and engagement with donors and members.”

BV Investment Partners makes investments in companies that are active in the business services and information technology services industries. Since its founding in 1983, the firm has invested over $3 billion in more than 93 companies.  BV Investment Partners is headquartered in Boston (www.bvlp.com).

“The investment in RKD aligns well with BV’s experience in the constituent engagement and outsourced marketing services sector,” said Sean Wilder, a principal of BV. “The company provides a high ROI driven business service to the very large and resilient nonprofit market.  We have partnered with a topnotch management team, and we look forward to executing on the next leg of growth for RKD.  With over 220,000 addressable US nonprofit clients, RKD has only just scratched the surface of its future potential scale.”

The buy of RKD is BV’s sixth platform investment for its ninth fund, BV Investment Partners Fund IX LP, which closed in April 2017 at its $750 million hard cap.

JEGI, an investment bank specializing in the media, information, marketing, software and tech-enabled services sectors, was the financial advisor to RKD Group on this transaction (www.jegi.com).

© 2019 Private Equity Professional | January 31, 2019

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