Los Angeles-based private equity firm Aurora Capital Group has acquired Market Track, a provider of promotional intelligence technology. The seller is Boston-based Monitor Clipper Partners. Terms of the deal were not released.
Aurora Capital Group (“Aurora”), a Los Angeles-based private equity firm, today announced that it has acquired Market Track, LLC (“Market Track” or the “Company”), the leading provider of promotional intelligence solutions in North America, from Monitor Clipper Partners, a Boston-based private equity firm (“MCP”). Key leadership, including CEO Wayne Mincey and President Paul Salay, will remain in their respective roles. Terms of the transaction were not disclosed.
Market Track is the leading provider of subscription-based, data driven promotional intelligence solutions that enable retailers, manufacturers and brokers to analyze their promotional and pricing initiatives to make more informed decisions. Market Track currently serves over 450 top retailers and manufacturers across all classes of trade and product categories, providing insight into how trade promotions are impacting consumers’ purchase decisions.
Josh Klinefelter, Partner of Aurora, commented, “We have been extremely impressed with Market Track’s performance over the last several years, including contract value retention rates that have averaged close to 100% and substantial organic growth through the consistent addition of new blue-chip customers. Additionally, our independent due diligence revealed Net Promoter Scores for Market Track that were at the very top of the market research industry and rivaled some of the best companies in the world. We have the utmost confidence in Market Track’s management team and look forward to supporting them with the financial, strategic and operational resources we make available to our partners.”
Commenting on Aurora’s investment in Market Track, Wayne Mincey, Market Track’s CEO, added, “The capital provided by Aurora will allow Market Track to continue to make investments in industry-leading innovations. It will provide us with an opportunity to continue to expand our in-depth coverage across all digital media sources; develop advanced client-focused solutions, such as industry scorecards; and execute on capability-expanding acquisitions.”
Paul Salay, Market Track’s President, added, “We are very excited to be partnering with Aurora, who shares our passion for businesses that build their services around the singular focus of delighting their clients. Market Track’s client engagement philosophy is closely aligned with Aurora’s approach and will enable our team to continue responding to the needs of our clients and delivering actionable insights that can be used to improve their businesses as well as increase their sales and profitability.”
Charlie Yoon of MCP, which sold its majority stake to Aurora said, “The entire Market Track organization has done a fabulous job building this business over the past four years by bringing innovation and thought leadership to this industry. We appreciate their efforts in providing a good return for our investors and we wish them the very best in the future.”
Barclays Private Credit Partners LLC led the debt financing while other current capital partners, Northwestern Mutual Capital and Golub Capital, will continue to play significant roles in support of Market Track. Gibson, Dunn & Crutcher LLP acted as legal advisor to Aurora. Jefferies & Company acted as financial advisor to MCP and Market Track and Weil, Gotshal & Manges LLP acted as their legal advisor.
About Market Track
Headquartered in Chicago, Illinois, Market Track is the leading provider of subscription-based promotion and pricing intelligence solutions in North America. Offered via a web-based software-as-a-service platform called FeatureVision, Market Track’s solutions enable retailers and manufacturers of consumer goods to efficiently monitor and analyze causal data to maximize the value of their promotional campaigns. Customers use FeatureVision as both a competitive intelligence tool to determine how competing products and brands are being promoted and to ensure retailer compliance with trade promotion agreements. The Company’s granular promotions data covers nearly every retail trade class, product category and media channel, measuring promotional activity during the critical 0-7 days before a consumer’s purchase decision.
About Aurora Capital Group
Aurora Capital Group is a Los Angeles-based private investment firm managing over $2.0 billion of capital across several private equity funds. Aurora’s traditional private equity vehicle, Aurora Equity Partners, focuses principally on control investments in middle market businesses with leading market positions, strong cash flow profiles, and actionable opportunities for growth in partnership with operating management. Aurora’s investors include leading public and corporate pension funds, endowments and foundations active in private equity investing. For more information about Aurora Capital Group, visit www.auroracap.com.
About Monitor Clipper Partners
Monitor Clipper Partners is a Cambridge, MA-based independent private equity firm formed in 1998. MCP has invested in over 40 businesses in North America and Western Europe, focusing primarily on partnering with founders and owners of middle-market companies. MCP provides strategic and operational support to maximize the value of its portfolio companies. MCP has invested approximately $1.7 billion in equity since its formation.