Aurora Capital Group today announced that it has acquired Market Track, a provider of promotional tracking services, from Monitor Clipper Partners which acquired the company in June 2008. Key leadership, including CEO Wayne Mincey and President Paul Salay, will remain in their respective roles.
Market Track is a provider of subscription-based, data driven services that enable retailers, manufacturers and brokers to analyze their promotional and pricing initiatives to make more informed decisions. Market Track currently serves over 450 retailers and manufacturers across all classes of trade and product categories, providing insight into how trade promotions are impacting consumers’ purchase decisions. Market Track was created in January 2004 through the consolidation of the two largest retail print ad tracking suppliers in the United States (Market Advantage and Advertising Processing). Market Track is based in Chicago, IL (www.markettrack.com)
“We have been extremely impressed with Market Track’s performance over the last several years, including contract value retention rates that have averaged close to 100% and substantial organic growth through the consistent addition of new blue-chip customers,” said Josh Klinefelter, Partner of Aurora. “Additionally, our independent due diligence revealed Net Promoter Scores for Market Track that were at the very top of the market research industry and rivaled some of the best companies in the world. We have the utmost confidence in Market Track’s management team and look forward to supporting them with the financial, strategic and operational resources we make available to our partners.”
Barclays Private Credit Partners led the debt financing while other current capital partners, Northwestern Mutual Capital and Golub Capital, will continue to support Market Track.
Gibson, Dunn & Crutcher acted as legal advisor to Aurora. Jefferies & Company acted as financial advisor to Monitor Clipper Partners and Market Track and Weil, Gotshal & Manges acted as their legal advisor.
Aurora Capital focuses principally on control-investments in middle-market industrial, manufacturing and service oriented businesses. The firm has $2 billion of capital under management and is located in Los Angeles, CA (www.auroracap.com).
Monitor Clipper Partners pursues management buyouts and late stage growth equity investments and seeks transactions in which it can invest between $10 million and $70 million of its capital. Sectors of interest include natural/organic foods, specialty retail, health care services, gaming, logistics, mortgage technology, marketing services, financial services, and metals. The firm was founded in 1998 and has invested approximately $1.7 billion in equity since its formation. Monitor Clipper Partners is based in Cambridge, MA ((www.monitorclipper.com).