Driehaus Private Equity has sold Focus4media to Mood Media. No financial terms were disclosed. Focus4media is a provider of sight, sound, scent and systems solutions to businesses.
CHICAGO, July 02, 2018 (GLOBE NEWSWIRE) — Driehaus Private Equity, LLC (DPE) today announced the sale of portfolio company focus4media to Mood Media, a leading global provider of in-store media solutions for improving the customer experience. Prior to the sale, focus4media had been Mood’s exclusive affiliate in various regions in the Southeast. The sale is effective immediately. The parties did not disclose the transaction terms.
“Since we acquired focus4media in April 2015, the company has experienced strong growth as we worked with management to improve operations, support new products and expand the sales force,” said Eli Boufis, DPE’s co-founder and executive principal. “Mood’s market leadership and successful affiliation with focus4media make this an ideal combination.”
This is the second sale for the DPE fund; the first was Syntac, which Shurtape Technologies acquired in April 2017. “We see continued growth across our portfolio companies, and opportunities for transactions that will benefit the entrepreneurs and companies we invest in, as well as our investors,” Mr. Boufis said.
“Driehaus Private Equity played a critical role in getting focus4media to a level of performance that makes this a strong growth opportunity for us and Mood Media,” said Gary Alshouse, focus4media’s CEO. “I’m excited about the new opportunities that lie ahead for us.”
As a Mood affiliate, focus4media offers sight, sound, scent and systems solutions to businesses in Alabama, Florida, Virginia and other areas across the Eastern United States. The company has approximately 50 employees in five states and clients include retailers, hotels, quick service restaurants (QSR) and other consumer-focused businesses.
Chicago-based Driehaus Private Equity supports companies seeking to grow organically or through acquisition with a dynamic source of capital and resources beyond capital. As a private investment firm, DPE leverages its investor base to contribute its network and unique knowledge to help build portfolio companies.