Progress Partners Builds Momentum; Strengthens Buy-Side Due Diligence and M&A Services, Expands SMB & Software Capabilities
Chris Legg and Rick Gallagher Appointed to Senior Managing Directors as Firm Broadens Offerings Across Media, Marketing, Advertising & Software Sectors
Cambridge, MA - October 2, 2015 – Progress Partners, a Boston and New York-based corporate M&A advisory firm is pleased to announce that it has broadened its offerings and strengthened its buy-side due diligence and M&A services with the appointments of Chris Legg and Rick Gallagher as Senior Managing Directors.
Mr. Legg leverages his investment banking background to focus primarily on leading M&A advisory work for clients within the software and SMB platform markets. Mr. Gallagher leads Progress Partners’ buy-side due diligence for clients and provides operational services to Progress Partners, leveraging his post-acquisition and integration expertise specifically within the media and marketing sectors.
Prior to joining Progress Partners, Mr. Legg held partner-level roles at Tandem Expansion and Argo Global Capital. Mr. Legg brings significant international expertise to Progress Partners, having led investments in Europe, Asia and Canada. Previously, Mr. Legg was an investment banker at Credit Suisse and Merrill Lynch. Mr. Legg brings direct experience as an advisor and investor to Progress Partners. He has helped drive 35 liquidity events through acquisitions, private placements and public offerings, representing $5 billion in transactions for a variety of high growth companies.
Mr. Gallagher brings more than 25 years of senior management and operational expertise to Progress Partners as a CPA, CFO, and COO of start-ups, Fortune 500, publicly traded, private equity, and high growth venture-backed companies. With an industry emphasis on media and marketing, Mr. Gallagher has completed over $1 billion worth of acquisitions, from sourcing to integration. He also co-founded 3 start-ups; for which he raised over $35 million and took them all through to liquidity events, including one IPO.
“We are delighted to announce the appointments of Mr. Legg and Mr. Gallagher to lead our software M&A Services and buy-side due diligence respectively,” said Nick MacShane, Founding Managing Director at Progress Partners. “Given Progress Partners’ extensive M&A work across our target sectors and the company’s increasing due diligence and integration work, together they bring significant and complementary expertise to Progress Partners.”
Mr. Legg and Mr. Gallagher join Senior Managing Directors Nick MacShane and Sam Thompson. Their appointments are part of an overall integrated growth and rebranding plan for Progress Partners as the firm broadens its offerings with expanded advisory and M&A services and a focused effort across the media, marketing, advertising and software sectors. Progress Partners recently closed one buy-side and two sell-side transactions in the U.S. and Europe respectively. The firm is also pleased to unveil its new branding and newly launched website at www.progresspartners.com.
"We see a noted increase of growth-stage companies paired with swelling cash accounts on small to mid-cap corporate balance sheets that is sure to accelerate over the next few years," said Sam Thompson, Senior Managing Director at Progress Partners. "We are pleased with the momentum of the firm, and adding strong M&A, due diligence and operational expertise within in the marketing, advertising, media and software markets is sure to bring value to our global clients."
“We congratulate Progress Partners on the appointments of Mr. Legg and Mr. Gallagher, both of whom bring substantial and varied experience to the firm,” said Mitchell Leiman, Vice President of Strategy and Corporate Development at Constant Contact. "Adding buy side due diligence and enhanced M&A services, specifically within the SMB market, demonstrates a continued dedication to the needs of clients and partners.”
About Progress Partners
Progress Partners is a Boston and New York-based corporate advisory firm serving the media, marketing, advertising technology and software sectors. Progress Partners works with buyers and sellers of emerging growth companies to complete M&A transactions, private placements, develop and implement strategic growth plans and obtain capital. The firm’s high standards of excellence, deep industry experience, extensive network, and entrepreneurial background give Progress Partners the ability to build and realize superior value for its clients. Over the last 12 months, Progress Partners has completed 6 transactions. For more information please visit: www.progresspartners.com.