Progress Partners Advises AdPerfect in its Sale to Private Equity Firm, Lighthouse Equity
Cambridge MA – May 24, 2016 – Progress Partners, a Boston and New York-based corporate M&A advisory firm is pleased to announce that it has advised AdPerfect in its sale to Vancouver-based private equity firm, Lighthouse Equity. AdPerfect is a Vancouver, British Columbia-based SaaS platform that provides self-serve, web-based classified advertising solutions for publishing groups. Chris Legg and Davis Rosborough of Progress Partners represented AdPerfect in the sale.
Well-known for transactions in the marketing and media technology space, Progress Partners has been building its footprint in guiding more traditional media companies into the digital space through investments in innovation. This includes the finding of new ownership for newspapers and print magazine groups, and advising traditional television companies in finding new media assets and technologies to ensure continued growth opportunities in the changing digital ecosystem.
“Progress Partners’ talent, transactional experience and value-added perspective was instrumental in identifying this strategic opportunity for AdPerfect,” said Varick Foster, founder and Director at AdPerfect. “Progress has a deep, insightful vision of the media market and really understands how to bring innovation to more traditional, legacy markets to accelerate growth.”
AdPerfect serves over 1,000 publishing titles across all solutions, with an additional 400 publishing titles pending launch throughout the United States, Canada, Australia and Europe. AdPerfect currently serves over 80% of Canada’s mainstream daily and community newspapers across all provinces in both English and French.
Progress Partners’ Chris Legg said, “We are very pleased to have found a private equity partner that shares our appreciation and vision for the strategic business that Ad Perfect has developed. Together, we see a number of key growth drivers that make the company a very interesting asset. The digital ecosystem continues to evolve, and our clients are increasingly seeking new ways to invest in technology and data systems that provide strategic acceleration for their business.”
“We are excited about adding AdPerfect to our portfolio of proven and growing innovation-driven businesses. Online and digital revenue growth is an imperative transition being managed by every traditional media publisher in a $30+ billion industry - AdPerfect is a trusted SaaS vendor enabling exactly this kind of growth,” said Steve Hnautiak,
Managing Partner of Lighthouse Equity Partners.
AdPerfect offers comprehensive and flexible advertising solutions designed to achieve maximum revenue for media publishers while reducing costs and simplifying workflows. Ad Perfect’s web-based classified and display solutions meet the needs of any vertical or advertiser type. For additional information please visit: www.adperfect.com.
About Lighthouse Equity Partners
Lighthouse is a Vancouver-based private equity investor focused on small and mid-sized Western Canadian businesses that are leading innovations across industries and across borders. Lighthouse portfolio companies serve large transitioning industries and are committed to go beyond value creation, helping to shape innovation and their customers’ future market leadership. For additional information please visit: http://www.lhequitypartners.com.
About Progress Partners
Progress Partners is a Boston and New York-based corporate advisory firm serving the marketing and media technology, and software sectors. Progress Partners works with buyers and sellers of high 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 8 transactions. For more information please visit: www.progresspartners.com