NewSpring Capital Leads Mezzanine Investment in Centiv Services Corp
April 04, 2012
RADNOR, PA - April 4, 2012 - NewSpring Capital, a family of private equity funds providing growth and expansion capital, announced today that NewSpring Mezzanine, the dedicated mezzanine fund of NewSpring Capital, has invested in the mezzanine debt financing of Centiv Services Corp. ("Centiv" or the "Company") located in Chicago, IL. The proceeds are being used to fund the acquisition of BrandMuscle, Inc. based in Cleveland, OH.
The addition of BrandMuscle makes Centiv the largest and most integrated company in the distributed marketing technology space, and helps expand the end markets served. BrandMuscle will continue running out of Cleveland under the leadership of BrandMuscle's CEO, Philip Alexander.
Founded in 2000, BrandMuscle provides localized campaigns for national companies with local marketing needs through an online software tool that allows clients to create customized local marketing material (print and digital) that complies with both internal brand standards and regulations. BrandMuscle serves Fortune 500 clients within the financial services, manufacturing, telecommunications, retail and automotive industries. BrandMuscle also provides media buying, planning and placement services to help clients execute their local marketing programs.
"BrandMuscle has tremendous opportunities moving forward, and we plan to aggressively grow the business, said Alexander. This is an exciting time for our business, and we're looking forward to a lot of good things."
Andrew Panzo, General Partner of NewSpring Mezzanine, added, "We are excited to help The Riverside Company's portfolio company, Centiv acquire BrandMuscle. Riverside is a marquee sponsor and the BrandMuscle acquisition was a natural extension for Centiv. The combined Company is well positioned to continue to capture additional market share in the distributed marketing technology space."