Eureka Equity Partners has acquired Advertiser Perceptions with senior debt and an equity co-investment from Abacus Finance. Abacus was the Senior Secured Credit Facilities Administrative Agent and Sole Lender.
Advertiser Perceptions is a provider of research-based data, market intelligence, and analysis to the media, advertising, and ad tech industries. The company was founded in 2002 by Ken Pearl and Randy Cohen and is headquartered in New York City.
“Abacus provided us with tremendous support early on in this transaction and fully delivered on their promise to provide seamless execution,” said Lisa Millhauser, a principal at Eureka Equity. “We are excited to be partnering with Abacus in support of Advertiser Perception’s continued growth.”
Abacus provides cash flow-based senior financing to private equity and family office-sponsored, lower-middle market companies that have EBITDA between $3 million and $15 million. Debt facilities can be as large as $50 million. Since Abacus’s founding in June 2011, it has closed over $3 billion in financings. Abacus, led by President and CEO Tim Clifford, is headquartered in New York City and is an affiliate of New York Private Bank & Trust which was founded in 1850.
“We were pleased to have had the opportunity to complete our first transaction with the Eureka Equity team,” said Mr. Clifford. “Our ability to meet Eureka’s desire for a smooth execution in a short timeframe is just one of the many attributes of our Total Partnership Approach™.”
The Abacus transaction team included Vice President Joseph Lee and Associate Greg Scanlon.
“Eureka Equity was great to work with in this transaction, and they brought us a standout company,” said Mr. Lee. “Advertiser Perceptions is a highly attractive, niche business offering a full suite of products and services within a growing market.”
Philadelphia-based Eureka Equity makes control and non-control investments in companies with up to $100 million in revenue. Sectors of interest include business services, health care services, specialty manufacturing and consumer products.
© 2023 Private Equity Professional | March 31, 2023
