CI Capital Partners has acquired a majority interest in HERO Digital, a San Francisco-based marketing consulting firm. HERO’s management team maintains a significant equity interest in the company.
HERO provides digital strategy, design, engineering, and analytic services to marketers to improve customer experiences and brand performance. HERO is led by CEO David Kilimnik and has offices in San Francisco, Los Angeles, and Boston (www.herodigital.com).
“HERO is representative of CI Capital’s long-standing focus on outsourced business and technology services,” said Joost Thesseling, Managing Director at CI Capital. “David Kilimnik and the rest of the HERO management team have built an impressive company with a great track record of growth and quality client service. There are also attractive opportunities for selective, strategic acquisitions that will be additive to HERO and will complement its organic growth.”
“This is a great moment for HERO,” said Mr. Kilimnik. “We have developed a unique approach to enhancing the digital customer experience for brands. By partnering with CI we will keep our formula, and also accelerate our growth via their expertise, guidance, and capital. As we expand our offerings, we will continue our focus on world class customer service and relentless execution.”
CI Capital Partners invests from $25 million to $100 million in middle market companies in the following sectors: business services, consumer services, distribution, government services and defense, and light manufacturing. Since its founding in 1993, CI Capital and its portfolio companies have made more than 125 acquisitions representing over $7 billion in enterprise value. CI Capital’s existing portfolio consists of companies which collectively generate annual revenue of approximately $4 billion, EBITDA of approximately $400 million, and employ approximately 14,000 people. The firm is based in New York (www.cicapllc.com).
Investment bank Petsky Prunier (www.petskyprunier.com) represented Hero Digital in this transaction. Perkins Coie (www.perkinscoie.com) served as legal counsel to Hero Digital and Paul, Weiss, Rifkind, Wharton & Garrison (www.paulweiss.com) served as legal counsel to CI Capital Partners.
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 3-22-16