Definition 6, an Atlanta-based interactive marketing agency, has raised $15 million in private equity funding from Navigation Capital Partners.
Navigation Capital Partners (NCP), an Atlanta-based middle market private equity firm, announced that it has made a commitment to invest up to $15 million in Atlanta-based interactive marketing agency Definition 6 (www.definition6.com). The new investment provides NCP with a significant ownership stake in the company as it works collaboratively with management to expand the Definition 6 brand nationally.
Definition 6 is the largest independent interactive marketing and eCommerce agency in the Southeast and is known for leveraging its technical experience and creative abilities to deliver social media strategies, search engine marketing, online advertising, Web development and email marketing for its clients.
As NCP’s third core portfolio company, the Definition 6 transaction reflects a continuation of NCP’s proactive investment strategy. NCP identified interactive media as one of several attractive categories with potential for strong growth, and then actively pursued an appropriate partner for investment. Additional sectors of interest include intelligent infrastructure, government contracting and green contract manufacturing.
“We noticed that even with the current slowdown in the traditional advertising model, digital solutions were gaining market share, which should only continue when the economy recovers,” said Larry Mock, managing partner for NCP. “Therefore, with access to additional capital, a strong company could expand and be competitively well-positioned in advance of a market turnaround. Instead of looking for sellers in this climate, we decided to find business owners who shared our vision and then together create a business plan we could support. In Definition 6 we found a strong team with whom we could partner and form an attractive platform for future growth.”
Definition 6 will keep its current management team in place, including founder and CEO Michael Kogon, while NCP named NCP Operating Partner O. G. Green, Vice President Zuri Briscoe and Mock to the firm’s board of directors. The investment will be used to aggressively and effectively leverage the core Definition 6 suite of solutions. Strategic growth plans also include funding to expand the brand’s national presence, through both organic business development as well as strategic acquisitions.
“With NCP’s commitment of capital, strategic insight and operating support, we have the opportunity to increase our footprint and outperform our competitors,” said Kogon. “Given the current convergence of media and digital business strategies in today’s marketplace, it’s the right time to make a move.”
Legal counsel was DLA Piper for NCP and Greenberg Traurig LLP for Definition 6.
About Navigation Capital Partners
Navigation Capital Partners (NCP) is an Atlanta-based private equity firm that makes growth and buyout investments in middle market niche manufacturing, distribution and services businesses across the United States. The managers of NCP formerly founded and managed Mellon Ventures, the private equity investment partnership of Mellon Financial Corporation. With the backing of Goldman Sachs Vintage Funds, NCP acquired the private equity portfolio of Mellon Ventures in December 2006. NCP currently manages approximately $375 million of invested and committed capital. For more information, visit www.navigationcapital.com.
About Definition 6, LLC
Definition 6 is an independent full-service interactive marketing and eCommerce agency that delivers proven solutions for challenger brands aggressively seeking business growth. Combining innovative marketing and ebusiness solutions, ranging from eCommerce and website design to rich media and Web 2.0 technology, with a consultative approach, Definition 6 ensures desired client outcomes are met. With solid infrastructure and web application development expertise, the firm helps bridge the gap between marketing and IT. Definition 6 maintains key partnerships with both Microsoft and Google, and generates real business results for clients such as VeriFone, Cox, La Quinta Inn & Suites, Carter’s and Wendy’s/Arby’s Group, Inc. For more information, visit http://www.Definition6.com.