fundraising services

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

Summit Partners has made an investment in RuffaloCODY, a provider of fundraising and enrollment management services.

“This commitment by Summit Partners will assist RuffaloCODY with plans to significantly expand our national and international presence and extend service offerings in both existing and new markets,” said Duane Jasper, RuffaloCODY President and CEO. “Summit’s experience working with high-growth organizations like RuffaloCODY will help accelerate our cutting-edge development and innovation.”

RuffaloCODY is a provider of technology-enabled fundraising and enrollment management services for higher education and high affinity-based nonprofit organizations. RuffaloCODY serves more than 900 nonprofit organizations and institutions of higher education. The company has approximately 500 employees and was founded in 1991. The company is headquartered in Cedar Rapids, IA (www.ruffalocody.com).

RuffaloCODY recently announced plans to move into a new 88,000-square-foot-facility to house all Cedar Rapids operations and provide space for the anticipated growth from 500 to 800 full-time staff over the next few years.

“We are investing in a strong management team, a compelling business model, and a market-leading company,” said Len Ferrington, a Principal with Summit Partners who will be joining the RuffaloCODY Board, along with Summit Managing Director C.J. Fitzgerald.

Summit Partners provides private equity and venture capital for growth companies. Founded in 1984, Summit has raised more than $15 billion in capital and has provided equity, recapitalization, and management buyout financing to more than 365 companies across a range of industries. Summit Partners has offices in Boston, Palo Alto, London, and Mumbai (www.summitpartners.com).

Lazard Middle Market advised RuffaloCODY on this transaction.

© 2013 PEPD • Private Equity’s Leading News Magazine • 5-31-13