M&A Deal Summary

Gamut Capital Management and Ares Private Equity Group Acquire Extreme Reach

On September 7, 2022, private equity firms Gamut Capital Management and Ares Private Equity Group acquired marketing company Extreme Reach from Spectrum Equity and The Carlyle Group

Acquisition Highlights
  • This is Gamut Capital Management’s 1st and Ares Private Equity Group’s 3rd transaction in the Marketing sector.
  • This is Gamut Capital Management’s 6th and Ares Private Equity Group’s 78th transaction in the United States.
  • This is Gamut Capital Management’s 1st and Ares Private Equity Group’s 2nd transaction in Massachusetts.

M&A Deal Summary
Date 2022-09-07
Target Extreme Reach
Sector Marketing
Buyer(s) Gamut Capital Management
Ares Private Equity Group
Sellers(s) Spectrum Equity
The Carlyle Group
Deal Type Secondary Buyout
Advisor(s) Moelis & Co. (Financial)
Kirkland & Ellis (Legal)

Target

Extreme Reach

Dedham, Massachusetts, United States
Extreme Reach is a provider of integrated cross-media video advertising and talent solutions that span TV, Web, Mobile, and all other video media. Extreme Reach was founded in 2008 and is based in Dedham, Massachusetts.

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Buyer(S) 2

Buyer

Gamut Capital Management

Category Private Equity Firm
Founded 2015
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Gamut Capital Management is a private equity group focused on investing $50 to $150 million in middle market US-based companies. Target sectors include agriculture, chemicals, telecom, industrials, mining, power, distribution, technology, energy and transportation. Gamut’s flexible investment strategy incorporates leveraged buy-outs, corporate carve-outs, strategic partnerships, and distressed-for-control situations. Gamut Capital Management was formed in 2015 and is based in New York City.

DEAL STATS #
Overall 7 of 9
Sector (Marketing) 1 of 1
Type (Secondary Buyout) 5 of 5
State (Massachusetts) 1 of 1
Country (United States) 6 of 8
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-09 Davis-Standard

Pawcatuck, Connecticut, United States

Davis-Standard designs develop and manufacture extrusion systems and process controls for the flexible web converting, plastics processing, and rubber industries. Davis-Standard manufactures extrusion equipment for the blown film, blow molding, cast film, extrusion coating and laminating, and other applications. Davis-Standard was founded in 1848 and is based in Pawcatuck, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-23 DEX Imaging

Tampa, Florida, United States

DEX Imaging is an independent dealer of Kyocera, Konica Minolta, and Canon document imaging equipment. The company sells and services printers, copiers, fax units, and digital data management software. DEX Imaging was founded in 2002 and is based in Tampa, Florida.

Buy -
Buyer

Ares Private Equity Group

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2003
PE ASSETS 20.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ares Private Equity Group is the private equity arm of Ares Management, a global alternative asset manager. The Ares Private Equity Group specializes in opportunistic majority/shared control investments in under-capitalized middle-market companies. Ares looks for companies with strong franchises and attractive growth opportunities. The Group prefers to be the lead investor and will invest across the capital structure, including common equity, preferred equity, convertible equity/debt and senior debt. Areas of interest include business services, defense, healthcare, manufacturing, industrial, energy and consumer products and services. Ares Private Equity Group was formed in 2003 and is based in Los Angeles, California.

DEAL STATS #
Overall 93 of 98
Sector (Marketing) 3 of 3
Type (Secondary Buyout) 38 of 39
State (Massachusetts) 2 of 2
Country (United States) 78 of 82
Year (2022) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-23 Atlas Crane Service

Aurora, Illinois, United States

Atlas Crane Service is a full-service crane rental provider offering turnkey maintenance, repair, and overhaul solutions. Atlas Crane Service was founded in 2009 and is based in Aurora, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-20 Eagle Football

London, United Kingdom

Eagle Football is focusing on historic, top-level clubs in major markets, fostering collaboration between clubs and communities to improve fan enjoyment and strengthen competitive outcomes. Eagle Football is based in London, United Kingdom.

Buy -

Seller(S) 2

SELLER

Spectrum Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 8.2B USD
Size Mega
Type Sector Focused
DESCRIPTION

Spectrum Equity Management L.P. is a private equity investor focused on service businesses. Spectrum specifically targets established businesses in the media, communications, IT, information, and business services industries. The Firm looks to commit $25 to $150 million of equity capital per transaction and focuses on opportunities throughout North America and Western Europe. Prospective transaction situations include leveraged buyouts, recapitalizations, acquisition financings, and secondary purchases. Spectrum Equity Investors was formed in 1994 and has offices in Boston, Massachusetts and Menlo Park, California.

DEAL STATS #
Overall 67 of 76
Sector (Marketing) 1 of 1
Type (Secondary Buyout) 7 of 10
State (Massachusetts) 5 of 5
Country (United States) 60 of 67
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-01 Payer Compass

Plano, Texas, United States

Payer Compass is a developer of software platform VISIUM a purpose-built healthcare pricing engine and contract management system focused on addressing the complexities of Medicare, Medicaid, and Commercial claims pricing. Payer Compass was founded in 2013 and is based in Plano, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-08 Digital Marketing Institute

Dublin, Ireland

Digital Marketing Institute is a digital marketing and selling professional certification body. Through its online platform and growing network of education partners, it offers an industry validated professional certification from Associate to Masters level. The Digital Marketing Institute has experienced rapid growth, with over 18,000 professionals in 115 countries having completed its learning programs to date. Digital Marketing Institute was founded in 2009 and is based in Dublin, Ireland.

Sell -
SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.

DEAL STATS #
Overall 452 of 480
Sector (Marketing) 7 of 7
Type (Secondary Buyout) 106 of 117
State (Massachusetts) 9 of 9
Country (United States) 248 of 259
Year (2022) 14 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-08 BenefitMall

Dallas, Texas, United States

BenefitMall is a national provider of employee benefits, payroll, HR and employer services. By combining payroll and benefits, BenefitMall empowers Trusted Advisors to develop the best employee programs while maintaining compliance with government regulations and Health Care Reform. BenefitMall was founded in 1979 and is based in Dallas, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-15 Chromalloy

Palm Beach Gardens, Florida, United States

Chromalloy is an independent provider of aftermarket engine parts and repairs to the commercial aerospace, military aerospace, and energy end markets. The Company's capabilities include advanced engineering, design, manufacturing, and repair solutions. Chromalloy has facilities in North America, Europe, and Asia. Chromalloy is based in Palm Beach Gardens, Florida.

Sell -
Mergr

Product

Company

Legal