Periscope Equity has invested in Power Digital Marketing, a technology-enabled digital marketing agency.
Power Digital’s services are used by local, regional and national brands to develop and execute cross-channel digital marketing campaigns that drive measurable customer acquisition and retention programs. The company’s services include content development, social media development, influencer marketing, public relations, web development, email marketing and search engine optimization. Power Digital is led by CEO Grayson Lafrenz and is headquartered in San Diego (www.powerdigitalmarketing.com).
“Since our founding in 2012, Power Digital has grown consistently, driven by the results we deliver for our clients,” said Mr. Lafrenz. “As we explored options to accelerate growth and advance our operations and technology platforms to the next level, Periscope emerged as the ideal partner. Their deep expertise in technology and marketing and people-first philosophy of working in harmony with management teams align with our core values at Power Digital.”
“Power Digital is a class-leading company within the digital marketing sector,” said S. Brian Mukherjee, a partner at Periscope Equity. “Grayson has built an exemplary organization that stands out for the quality of the team, its digital marketing expertise, technology innovations, and the consistent, measurable results it delivers for its clients.”
Periscope makes control buyouts of founder or management-led technology-enabled business services companies that have revenues from $10 million to $50 million and EBITDAs from $2 million to $8 million. The firm was founded by Steven Jarmel in January 2013 and is headquartered in Chicago (www.periscopeequity.com).
“Periscope’s investment in Power Digital provides additional capital to invest in our intellectual property and technology, including our proprietary platforms. Historically, our technology has given us a strong competitive advantage and is only just scratching the surface of the efficiencies it can bring to our team and, most importantly, the impact it can have on the revenue growth of our clients,” said Robert Rodrigues, co-founder at Power Digital.
New Century Capital Partners (www.newcenturycap.com) was the financial advisor to Power Digital on this transaction.
© 2019 Private Equity Professional | February 1, 2019