Clearview Capital has invested in Next Net Media, marking the ninth platform investment in Fund IV, a $550 million vehicle raised in 2018. Next Net Media comprises three customer-facing brands providing digital marketing solutions, content creation and other support functions to small and mid-sized business.
Stamford, CT, September 22, 2021 — Clearview Capital Fund IV, L.P. and its affiliates (“Fund IV”) announced today an investment in Next Net Media, LLC and affiliates (collectively “Next Net Media” or the “Company”), in partnership with management. The transaction closed on September 3, 2021.
Headquartered in St. Petersburg, FL, Next Net Media is a freelancer-powered services company that owns three customer-facing brands providing digital marketing solutions, content creation and other support functions to small and mid-sized business. The HOTH is the Company’s largest brand and provides digital marketing solutions with a focus on search engine optimization, pay-per-click and other complementary services. Core products include content creation, content distribution, and fully managed digital marketing plans. iWriter and FreeUp are marketplaces facilitating direct engagements between freelancers and small businesses for content creation, article writing and a wide variety of other support functions.
The Company will continue to be led by co-founders, Marc Hardgrove and David Martin, who retained a significant equity stake in the recapitalized business. Several other key members of the management team made investments alongside Fund IV and the Company’s co-founders.
“We are thrilled to be partnering with Marc, David and the rest of the Next Net Media team,” said Geoff Faux, Principal of Clearview Capital. “Next Net Media is well positioned to capitalize on a massive market and strong underlying demand tailwinds for digital marketing services to small and mid-sized businesses. We believe that their technology-enabled, highly scalable delivery model is differentiated from smaller competitors and will allow the business to capture an outsized share of the growing market.”
“We were looking to find a collaborative partner to help take us to the next stage of growth, and we believe we found that in Clearview,” said Mr. Marc Hardgrove, CEO. “David and I are eager to continue leading the business and see tremendous value in leveraging Clearview’s experience to guide our growth strategy.”
“The partnership with Clearview is an exciting new phase for Next Net Media,” added Mr. David Martin, President. “We see an opportunity to deliver solutions to a much larger set of clients and to continue growing the organization to better meet the needs of those clients.”
Next Net Media is the ninth platform investment in Fund IV, a $550 million committed fund raised in 2018.
Holdings in funds managed by Clearview Capital include LTC Consulting Services, LLC, a leading provider of revenue cycle management, finance, and other office management services to hundreds of skilled nursing facilities; Infinity Worlds and Belmont Partners (collectively “I+B”), a leading provider of retail sales and marketing services to emerging brands and private label manufacturers; MBI Industrial Medicine, Inc., a provider of occupational injury care services; New Revo Brand Group, LLC d.b.a. Real Avid, a designer and supplier of premium-branded, DIY shooting accessories for outdoor enthusiasts; Capitol Imaging Services, LLC, a provider of outpatient diagnostic imaging services; Higdon Outdoors, LLC, a designer and supplier of premium-branded hunting and pet accessories; Workforce Solutions, a provider of management consulting services focused on organizational improvement, leadership development, communications and advocacy for a broad array of clients; Apothecare Pharmacy, LLC, an institutional pharmacy targeting the behavioral health sector; Community Medical Services Holdings, LLC, a provider of medication-assisted treatment programs for patients suffering from substance use disorders; UpSwell, LLC f.k.a Mudlick Mail, LLC, a data-driven direct mail and related marketing solutions provider; Nielsen-Kellerman Co., a designer and manufacturer of premium environmental and athletic performance measurement instruments; Orchard & Vineyard Supply f.k.a. Wilson Orchard & Vineyard Supply, a provider of orchard and vineyard supplies and solutions, and outsourced vineyard management services; Controlled Products, LLC, a manufacturer and distributor of premium quality synthetic turf; Elevation Labs f.k.a. Northwest Cosmetic Labs, a formulator and manufacturer of cosmetic and skin care products for prestige brands; Derby Building Products, Inc. f.k.a. Novik, Inc., an innovator, manufacturer and distributor of polymer building products; and Child Health Holdings, Inc. d.b.a. Pediatric Health Choice, the country’s largest operator of prescribed pediatric extended care (“PPEC”) centers for medically complex children.