Novacap acquires TV brand advertising platform Cadent

• The deal resulted in the exit of Lee Equity Partners, which acquired Cadent in 2013
• Cadent helps advertisers and publishers identify and understand audiences, activate campaigns and measure what matters across any TV content or device
• Based in Montreal, Novacap is a mid-market private equity firm with more than C$8 billion of assets managed

Canadian private equity firm Novacap has acquired Cadent, a provider of platform-based converged TV advertising solutions with headquarters in New York. No financial terms were disclosed.

The deal resulted in the exit of Lee Equity Partners, which acquired Cadent in July 2013.

Cadent helps advertisers and publishers identify and understand audiences, activate campaigns and measure what matters across any TV content or device. Aperture, the company’s converged TV platform, simplifies cross-screen advertising through a streamlined workflow that brings together identity, data and inventory with hundreds of partners.

The partnership with Cadent marks the fourth platform investment of Novacap TMT VI.

“The Cadent leadership team successfully transformed the company into a leader of converged TV solutions. We are at the beginning of a fundamental shift in TV advertising, and with strategic investments and acquisitions we believe Cadent will continue to propel forward as an innovator in the converged marketplace,” said Samuel Nasso, a principal at Novacap, in a statement.

Evercore served as lead financial advisor to Cadent and Lee Equity Partners. Also, Stifel served as co-advisor, and Weil, Gotshal & Manges served as the legal advisor.

RBC Capital Markets, TD Securities and Scotiabank acted as financial advisors and provided financing to Novacap and Baker Botts acted as legal advisor to the firm.

Based in Montreal, Novacap is a mid-market private equity firm with more than C$8 billion of assets managed.