NextGen Growth Partners has acquired and merged Dealer 121 and Jacobs Marketing Group LLC. No financial terms were disclosed. Based in Roseville, Minnesota, Dealer 121 is a provider of marketing intelligence and execution platform for small to medium-sized car dealers while JMG is an automotive direct marketing company located in Long Island, New York.
CHICAGO–(BUSINESS WIRE)–NextGen Growth Partners (“NGP”) announces the acquisition and merger of Dealer 121 LLC (“Dealer 121”) and Jacobs Marketing Group, LLC (“JMG”).
Headquartered in Roseville, MN, Dealer 121 (www.dealer121.com) provides an integrated marketing intelligence and execution platform that enables small and medium-sized automobile dealerships to deliver targeted marketing campaigns to their customers and prospects through digital and direct mail channels. “We are excited about the partnership with NextGen,” said Dealer 121 Founder and President, Derc Teschler, who will remain involved with the business. “The combination of NextGen’s entrepreneurial talent, operational expertise, and previous experience scaling businesses makes them the ideal partner to help us develop and execute on our strategic objectives.”
JMG (www.jmgny.com) is a leading automotive direct marketing company located in Long Island, NY, with operations currently focused in the tri-state area (New York, New Jersey, and Connecticut). JMG has developed a methodology and a suite of marketing materials targeted to customers that can be used in a recurring program by its automotive dealership clients providing a meaningful return on investment for each marketing dollar spent. “We are thrilled about the growth potential that this partnership with NextGen and Dealer 121 brings; not only as it relates to geographic footprint but also expanded service product offerings in our current market,” said Scott Jacobs, JMG Founder and CEO, who will also remain involved going forward.
NGP acquired the companies on April 19, 2019, marking the third platform investment in their inaugural fund. Concurrent with the acquisition, NGP named Entrepreneur-in-Residence Rock Irvin as CEO of the companies. “Going forward, we are excited to partner with Rock and the Dealer 121 and JMG teams and see significant growth opportunities with both current customers and unserved markets as we continue to build on the people and technology platform already in place,” said Brian O’Connor, Managing Partner of NGP. “Both Dealer 121 and JMG provide significant value to their customers,” said Rock Irvin, NGP Entrepreneur-in-Residence turned CEO. “I am eager to partner with Derc and Scott and especially excited about the synergies, diversified offerings, and geographic growth opportunities that this partnership brings. Together we are creating a technology-enabled, yet hands-on service that helps our customers identify and engage with buyers in a way that drives significant return on their investment.”
About NextGen Growth Partners
Headquartered in the West Loop neighborhood of Chicago, NextGen Growth Partners is a private equity firm that partners with the best and brightest entrepreneurial talent to acquire, operate and grow lower middle market businesses across a variety of industries. The team has a strong track record of creating value through growth and operational improvement in middle market businesses. For more information, please visit www.nextgengp.com.