M&A Deal Summary

Digity Companies Acquires Three Eagles Communications

On October 28, 2014, Digity Companies acquired media company Three Eagles Communications from Primus Capital Funds and Pamlico Capital for 67M USD

Acquisition Highlights
  • This is Digity Companies’ 1st transaction in the Media sector.
  • This is Digity Companies’ largest (disclosed) transaction.
  • This is Digity Companies’ 1st transaction in the United States.
  • This is Digity Companies’ 1st transaction in Colorado.

M&A Deal Summary
Date 2014-10-28
Target Three Eagles Communications
Sector Media
Buyer(s) Digity Companies
Sellers(s) Primus Capital Funds
Pamlico Capital
Deal Type Add-on Acquisition
Deal Value 67M USD
Advisor(s) CEA Capital Advisors LLC (Financial)

Target

Three Eagles Communications

Salida, Colorado, United States
website
Three Eagles Communications, Inc. is an operator of small to medium size radio stations operations in the Midwest, U.S.

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Buyer(S) 1

Buyer

Digity Companies

West Palm Beach, Florida, United States

website

Category Company
Sector Media
DESCRIPTION

Digity Companies is a diversified local media, digital, entertainment and event marketing company. Digity Companies is based in West Palm Beach, Florida.

DEAL STATS #
Overall 1 of 1
Sector (Media) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Colorado) 1 of 1
Country (United States) 1 of 1
Year (2014) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-01 Digity Companies - 114 Radio Stations

West Palm Beach, Florida, United States

Digity Companies LLC - 114 Radio Stations provides local media, digital entertainment, and event marketing solutions.

Sell -

Seller(S) 2

SELLER

Primus Capital Funds

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1983
PE ASSETS 900M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Primus Capital is a private equity firm focused on investing in established companies in the business services, healthcare and education industry sectors. Primus looks for established, high-growth companies with strong management and predictable/recurring revenues. The Firm will consider both control and minority positions and has a target investment size of $15 to $40 million. Prospective transaction types include growth equity financings, recapitalizations, and management-led buyouts. Primus was formed in 1984 and is based in Cleveland, Ohio.

DEAL STATS #
Overall 22 of 43
Sector (Media) 1 of 1
Type (Add-on Acquisition) 12 of 26
State (Colorado) 1 of 1
Country (United States) 21 of 42
Year (2014) 3 of 4
Size (of disclosed) 9 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-16 SPARTA Insurance Holdings

Hartford, Connecticut, United States

SPARTA Insurance Holdings, Inc. provides property and casualty insurance for specialty and alternative risk programs.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-20 Vendormate

Atlanta, Georgia, United States

Vendormate helps healthcare providers and suppliers form and optimize their business relationships with simplified and streamlined processes.

Sell -
SELLER

Pamlico Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1988
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Pamlico Capital is a private equity group focused on mid-sized transactions. Pamlico looks to invest $25 to $125 million per transaction. Sectors of interest include business and technology services, consumer products/services, industrial, energy, financial services, healthcare, media, and communications. Pamlico will consider both minority and majority positions. Prospective transactions include management or leveraged buyouts, recapitalizations, growth financings, mezzanine, and special situations. Pamlico was formerly known as Wachovia Capital Partners. The Firm was originally formed in 1988 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 33 of 61
Sector (Media) 3 of 5
Type (Add-on Acquisition) 15 of 32
State (Colorado) 2 of 2
Country (United States) 32 of 59
Year (2014) 5 of 5
Size (of disclosed) 13 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-24 Express Energy Services

Houston, Texas, United States

Express Energy Services is a provider of rental equipment and services to the oil and gas industry. Express Energy Services was founded in 2000 and is based in Houston, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-15 Dexter & Chaney

Seattle, Washington, United States

Dexter & Chaney, Inc. is a provider of ERP software to the construction industry. Dexter & Chaney product, Spectrum® Construction Software, is an integral component of daily operations for more than 1,000 contractors, and is the industry’s first construction management platform to utilize true cloud-based technology with an intuitive web browser interface. Dexter & Chaney, Inc. was established in 1981 and is headquartered in Seattle, Washington.

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