Platinum Equity Acquires Marketing Technology Platform Centerfield, Completes Add-on Acquisition of Digital Ventures
LOS ANGELES, Jan. 21, 2020 /PRNewswire/ -- Platinum Equity today announced the acquisition of Centerfield, a technology-driven marketing and customer acquisition company. The firm also announced that Centerfield has acquired Digital Ventures, which operates leading web sites in home security, residential services, senior services and other verticals. Financial terms of the transactions were not disclosed.
“Centerfield has delivered millions of customers and sales to many of America’s largest brands,” said Jacob Kotzubei, Partner at Platinum Equity. “The company has strong leadership and a proven technology platform and is well positioned to accelerate its growth both organically and through acquisitions like Digital Ventures.”
Centerfield’s digital assets and industry leading platform, Dugout, engage in-market consumers and automate end-to-end customer acquisition for millions of shopping experiences each year. Founded in 2011, Centerfield has more than 1,000 employees across seven offices serving brands in residential services, telecommunications, business services, education and other verticals.
“Over the last nine years, we’ve built a world-class technology platform that delivers outstanding results for our clients,” said Brett Cravatt, Co-Founder and Co-CEO of Centerfield. “Our new partnership with Platinum allows us to further penetrate existing markets, expand into new ones and continue investing in Dugout.”
Centerfield Co-Founder and Co-CEO Jason Cohen said Digital Ventures is a perfect fit for Centerfield.
“Digital Ventures has built an impressive digital marketing business reaching millions of customers in competitive industries,” said Mr. Cohen. “We are thrilled to have the team join Centerfield and believe this acquisition is a blueprint for us to expand in both new and existing verticals.”
Investment Bank CG / Petsky Prunier, part of Canaccord Genuity, served as exclusive financial advisor to Centerfield Media in the transaction.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $19 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners V, a $10 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 25 years Platinum Equity has completed more than 250 acquisitions.
Centerfield ( https://www.centerfield.com/ ) is a technology-driven marketing and customer acquisition company driving millions for sales for residential services, business services, and telecommunications brands. Centerfield’s marketing and sales technology platform, Dugout, and leading consumer guides engage with in-market consumers to help them purchase internet, TV, wireless, landline, and home security, amongst other products and services. Centerfield is headquartered in Los Angeles with offices in Boston, New York, South Florida, Kingston and Montego Bay.
Dan Whelan, Platinum Equity
SOURCE Platinum Equity