M&A Deal Summary

Svoboda Capital Partners Acquires The Variable

On September 1, 2021, private equity firm Svoboda Capital Partners acquired marketing company The Variable

Acquisition Highlights
  • This is Svoboda Capital Partners’ 4th transaction in the Marketing sector.
  • This is Svoboda Capital Partners’ 42nd transaction in the United States.
  • This is Svoboda Capital Partners’ 1st transaction in North Carolina.

M&A Deal Summary
Date 2021-09-01
Target The Variable
Sector Marketing
Buyer(s) Svoboda Capital Partners
Deal Type Recapitalization
Advisor(s) GP Bullhound (Financial)
Davis & Gilbert (Legal)

Target

The Variable

Winston-Salem, North Carolina, United States
The Variable operates as an end-to-end digital advertising agency and innovation consultancy. TVA’s capability set is comprehensive and includes brand and business strategy, in-house creative and content creation, social, production, media planning / buying, as well as measurement & optimization throughout the course of advertising campaigns. The Variable is based in Winston-Salem, North Carolina.

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Buyer(S) 1

Buyer

Svoboda Capital Partners

Chicago, Illinois, United States

Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Svoboda Capital Partners is a private equity firm that seeks buyout, recapitalization, and growth capital investments in mid-sized companies with leading market positions, strong customer relationships, and high margins. Svoboda generally looks to invest up to $25 million in businesses generating sales of $10 to $100 million and EBITDA of $3 to $15 million. Sectors of interest include value-added distribution, business services, and consumer products. Svoboda Capital Partners was formed in 1998 and is based in Chicago, Illinois.

DEAL STATS #
Overall 43 of 46
Sector (Marketing) 4 of 6
Type (Recapitalization) 7 of 9
State (North Carolina) 1 of 1
Country (United States) 42 of 45
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-31 Marcus Thomas

Cleveland, Ohio, United States

Marcus Thomas is a full-service marketing and advertising agency. MT’s services include creative and content development, web and application development, media, public relations and social media marketing, brand strategy and CRM and marketing automation consulting. The Company serves a tenured base of middle market and enterprise clients across a broad range of industries including health and wellness, home and garden, and financial and professional services, among others. Marcus Thomas is based in Cleveland, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-03 Horwitz

New Hope, Minnesota, United States

Horwitz operates as a multi-trade specialty mechanical and HVAC service provider. The Company provides engineering, installation, and ongoing support for the HVAC, plumbing, electrical, and building controls industry segments. Horwitz is differentiated by its deep in-house design/build engineering capabilities which supports the Company’s cross-disciplinary service offerings. Horwitz is based in New Hope, Minnesota.

Buy -
Mergr

Product

Company

Legal