Red Ventures buys VC-backed Allconnect


Red Ventures, a digital consumer choice platform, has acquired Atlanta-based Allconnect LLC, a technology-enabled sales and marketing solutions company. The sellers included Covestco and Maveron. No financial terms were disclosed. Petsky Prunier advised Allconnect on the deal.

PRESS RELEASE

September 8, 2017 (New York, NY) – Petsky Prunier is pleased to announce that it has advised Allconnect Inc., a leading technology-enabled sales and marketing solutions company that partners with utility and energy companies to help customers in more than 50 million households compare and purchase home services, on its sale to Red Ventures LLC, a leading digital consumer choice platform. Allconnect was a portfolio company of Covestco and Maveron, among other investors.

Founded in 1998, Allconnect offers customers a convenient single source to compare and connect integrated media, broadband, home protection, energy, and green products. Through more than 20 million annual consumer touch points, the company acquires customers, increases revenue, and generates higher customer satisfaction for its utility and energy partners. Allconnect’s 2016 customer satisfaction score of 86, as measured by the American Customer Satisfaction Index (ACSI), was the second-highest score of the publicly measured companies in 2016. The company is headquartered in Atlanta, Georgia, with offices in Lexington, Kentucky and St. George, Utah.

Red Ventures is a leading digital consumer choice platform based in Charlotte, North Carolina. Through deeply integrated brand partnerships and consumer-facing assets, Red Ventures uses advanced analytics, data science, and deep technical integration to connect online customers with products and services across high-growth industries, including home services, financial services, and healthcare. Founded in 2000, Red Ventures has more than 2,700 employees in offices across the Carolinas, Seattle, Washington, London, and Sao Paulo, Brazil.

Allconnect Tombstone
“We chose Petsky Prunier, because they are the #1 investment bank advising customer acquisition businesses and know the sector better than anyone else. The team from Petsky Prunier was instrumental at all stages in helping us navigate a series of complex M&A discussions and strategic alternatives. In a short period of time, their strong command of the sector ultimately delivered us a highly strategic transaction at a premium value for our shareholders.”

Sam Howe, CEO, Allconnect
The acquisition positions the combined company to scale its home services marketplace and expand its footprint within the valuable movers segment.

Petsky Prunier, with a team led by Sanjay Chadda, Dylan Kearns, and Christopher Heasman, served as exclusive financial advisor to Allconnect.

Petsky Prunier is one of the leading investment banks to the technology, media, marketing, information, eCommerce, and healthcare industries. Our firm’s merger and acquisition and private placement advisory services reflect a unique blend of product specialization and industry expertise. Together with strategic consulting firm Winterberry Group, a Petsky Prunier company, our organization represents one of the largest industry-specific advisors providing strategic and transactional services. We offer global reach supplemented through our partnerships in China and India. Securities transactions are processed through Petsky Prunier Securities LLC, a member of FINRA, and an affiliated entity.
www.petskyprunier.com

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