CIVC Partners has made an investment in InnovateMR, a provider of tech-enabled survey and sampling services to market research agencies, consulting firms, and corporations. No financial terms were disclosed. Capstone Partners served as financial advisor to Innovate on the deal.
CALABASAS, Calif., Jan. 24, 2022 /PRNewswire/ — CIVC Partners, L.P. (“CIVC”), a Chicago-based middle market private equity firm focused on investments in the business services sector, is pleased to announce the firm’s investment in InnovateMR (“Innovate” or the “Company”), in partnership with the management team and current shareholders to support the Company’s continued growth.
“CIVC’s experience partnering with founder-owned businesses will be instrumental to InnovateMR’s future growth,” InnovateMR Co-founder Matt Dusig said.
“CIVC Partners share our vision for the future of InnovateMR. Our new partnership will only enhance our dedication to insights,” CEO Lisa Wilding-Brown said.
Founded in 2014, Innovate has established itself as one of the fastest growing providers of tech-enabled survey and sampling services to market research agencies, consulting firms, and corporations. Innovate focuses on enhancing the quality of its clients’ market research by using its proprietary software, deep respondent sourcing and screening expertise, and client service model to provide insights professionals timely access to high quality, unique survey respondent populations.
CIVC’s investment will provide Innovate with additional capital and resources to support its growth strategy. CEO Lisa Wilding-Brown and COO John Tan will continue to lead Innovate and the co-founders Gregg Lavin, Matt Dusig, and George Llorens and former President Michael Anderson will remain significant investors in the business.
“We are thrilled to be partnering with a CIVC team that shares our vision for Innovate. CIVC has been an active investor for over 30 years and has the resources, expertise, and capabilities to help Innovate continue to execute on our growth strategy,” said CEO Lisa Wilding-Brown. Co-founder Matt Dusig added, “CIVC’s experience partnering with founder-owned businesses will be instrumental to Innovate’s future growth. Gregg, George, Michael, and I expect CIVC to be a value-added partner to Lisa, John and the rest of the Innovate team as the Company continues to deliver high quality, differentiated survey and sample services to its clients.”
Doug Potters, a Partner at CIVC, commented that, “Innovate is an excellent platform to capitalize on the attractive growth trends in the highly fragmented customer insights industry. We are excited to partner with Lisa Wilding-Brown, John Tan and the rest of the Innovate management team to support the Company in accelerating organic growth and pursuing strategic acquisitions. Additionally, we are extremely pleased by the significant investment made by Matt, Gregg, George and Michael in the transaction and their continued involvement in the business at a Board-level.”
The investment in Innovate builds on CIVC’s investment experience in tech-enabled services including Magna Legal Services (outsourced legal services), 829 Studios (digital marketing services), and KPA (EHS compliance software and services).
Kirkland & Ellis LLP served as legal advisor to CIVC. Capstone Partners LLC served as financial advisor to Innovate. Sklar Kirsh LLP served as legal advisor to Innovate.
About CIVC Partners, L.P.
CIVC Partners is a Chicago-based private equity firm investing in high growth middle market companies in business services sectors. Since 1989, the team has invested over $1.9 billion in 71 platform companies and currently invests from CIVC Partners Fund VI. More information on CIVC Partners and its portfolio companies can be found at www.civc.com.