CI Capital buys majority stake in Hero Digital


CI Capital Partners acquired a majority interest in Hero Digital, a digital consulting firm based in San Francisco. Terms of the transaction were not disclosed. Hero’s management retains a significant equity stake in the company.

PRIVATE EQUITY

New York, NY and San Francisco, CA – March 21, 2016 – CI Capital Partners, a New York-based private equity firm, and Hero Digital (“HERO”), announced today that an affiliate of CI Capital Partners has acquired a majority interest in HERO, a leading digital consulting firm based in San Francisco, CA.  HERO’s management retains a significant equity interest in the company.  Terms of the transaction were not disclosed.

HERO is a digital consulting firm that provides strategy, experience design and engineering services to help marketers for leading brands improve the customer experience and drive business performance. HERO has deep expertise in providing solutions built on software platforms such as Adobe Marketing Cloud, Sitecore, Acquia, and Jive.

“This is a great moment for HERO,” said CEO David Kilimnik.  “We have developed a unique approach to enhancing the digital customer experience for brands. By partnering with CI we will keep our formula, and also accelerate our growth via their tremendous expertise, guidance, and capital.  As we expand our offerings, we will continue our focus on world class customer service and relentless execution.”

“We are thrilled to have the opportunity to invest in HERO. HERO is representative of CI Capital’s long-standing focus on outsourced business and technology services, which includes investments such as Glass’s Information Services, A-T Solutions, Anteon International and Transplace,” said Joost Thesseling, Managing Director at CI Capital.  “David Kilimnik and the rest of the HERO management team have built an impressive company with a great track record of growth and quality client service.  There are also attractive opportunities for selective, strategic acquisitions that will be additive to HERO and will complement its organic growth.”

Investment Bank Petsky Prunier represented Hero Digital in this transaction. Perkins Coie LLP served as legal counsel to Hero Digital and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to CI Capital Partners.

About Hero Digital

Hero Digital, LLC is a North American digital consultancy. HERO focuses on integrated service delivery for marketers, combining strategy, experience design, engineering, and analytics to improve the customer experience for the world’s top brands.  HERO is a privately held firm with offices in San Francisco, Los Angeles, and Boston.  To learn more about HERO, please visit www.herodigital.com.

About CI Capital Partners

CI Capital Partners LLC, a North American private equity firm with $1.9 billion in assets under management, has been investing in middle-market companies since 1993. CI Capital forms partnerships with experienced management teams and entrepreneurs to build substantial businesses through add-on acquisitions, organic growth and operational improvements. Since the firm’s inception, CI Capital and its portfolio companies have made more than 180 acquisitions representing over $7 billion in enterprise value. CI Capital’s existing portfolio consists of companies that collectively generate annual revenue of over $2 billion, EBITDA of over $250 million and employ approximately 9,000 people. To learn more about CI Capital Partners, please visit www.cicapllc.com.

 

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