Progress Partners Advises Balihoo on Sale to PE-backed Marketing Agency
BOSTON, MA – February 7, 2017 – Progress Partners, a Boston and New York-based M&A advisory firm, is pleased to announce the January sale of its client, Balihoo, a paid-search marketing and display ad software and services company, to a leading private equity-backed marketing and media tech-enabled agency.
Balihoo provides national brands and agencies with paid search marketing and display ad software and services. Specifically, Balihoo helps these national entities execute hyper-local campaigns on behalf of those entities’ local agents, dealers, retailers and franchisees. The acquirer saw an opportunity to expand its technology portfolio through acquisition of Balihoo. The acquirer was historically a services business, and wanted to build out a stronger technology platform to provide a broader suite of products to its customers. After reviewing Balihoo, the acquirer moved quickly to close the deal.
Paul Price, CEO of Balihoo, noted, “Progress Partners shepherded Balihoo through an expeditious sales process in a smooth and transparent manner. They deftly navigated throughout the journey and ultimately led Balihoo to an exit which gives the company a highly promising opportunity for further growth.”
Chris Legg, Senior Managing Director at Progress Partners, also commented, “The growing relevancy of local marketing platforms made this an attractive asset to a multiplicity of buyers. We’ve seen the growing interest among marketing agencies to build or buy technology to expand their offerings to clients. We’re pleased to have brought this opportunity to such a forward-thinking agency.”
Balihoo is the premier provider of digital advertising technology for national brands that need to market hyper-locally at scale. By improving the relevance of search, social, and display ads over other ad technologies, Balihoo is proven to increase click-through-rates and decrease average cost-per-click, while removing manual tasks and setup time for campaign managers. For more information, please visit: www.balihoo.com.
About Progress Partners
Progress Partners is a Boston and New York-based M&A advisory firm working with emerging technology companies within media, marketing, advertising sectors, serving SMB through Enterprise. Progress Partners works with buyers and sellers of high growth companies to complete M&A transactions, raise debt or equity capital, as well as, develop and implement strategic growth plans. 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. For more information, please visit: www.progresspartners.com.