North Carolina-based private equity firm Pamlico Capital acquired the majority stake in CLEARLINK Technologies, the Utah-based supplier of performance-based customer acquisition solutions. CLEARLINK was advised by financial advisor Petsky Prunier Securities and legal advisor Holland & Hart LLP. Pamlico was advised by Alston & Bird LLP.
Salt Lake City, Utah, January 4, 2011 – Pamlico Capital and management announced today that they have recapitalized CLEARLINK Technologies, LLC. CLEARLINK, founded in 2004, is a rapidly growing provider of performance-based customer acquisition solutions to a number of the largest suppliers of home services in the U.S. CEO Phil Hansen, CTO Bruce Westenskow, and COO Ben Henderson will remain significant owners of CLEARLINK and will continue to manage the growth of the company in partnership with Pamlico. Terms of the transaction were not disclosed.
CLEARLINK is dedicated to becoming the nation’s leading technology-driven customer acquisition marketing company. CLEARLINK utilizes a diverse suite of online and offline local marketing services to reach fragmented consumers, generate leads, convert those leads into paying subscribers, and create incremental growth for some of the most recognized home services brands in the nation. CLEARLINK’s marketing solutions provide end to end customer acquisition, delivering performance-based advertising at a known, positive ROI.
“We chose to partner with Pamlico because of their track record of supporting companies and entrepreneurs as a first-time institutional capital provider,” said Phil Hansen, CLEARLINK CEO. “CLEARLINK is poised to continue to scale and expand its services into adjacent verticals. The expertise and resources Pamlico brings to our team will be critical assets in these endeavors.”
Pamlico Partner Walker Simmons said, “Our focus on making growth equity investments in technology enabled outsourced services companies led us to CLEARLINK. We were tremendously impressed by the caliber and breadth of the management team, as well as the opportunity CLEARLINK has to capitalize on the favorable trends in online and performance-based marketing.”
CLEARLINK was advised by Petsky Prunier Securities (financial advisor) and Holland & Hart LLP (legal advisor). Pamlico was advised by Alston & Bird LLP (legal advisor).
CLEARLINK is a rapidly growing supplier of performance-based customer acquisition solutions to a number of the largest providers of home services in the U.S., including DISH Network, ADT Security Services, AT&T, Qwest and Verizon. The company was founded in 2004 and is based in Salt Lake City, Utah. CLEARLINK utilizes a diverse selection of marketing and media buying expertise that spans online and offline sources, delivering a multi-channel marketing solution that reaches increasingly fragmented consumer audiences. Through this marketing and media reach, the company generates customer leads in the form of in-bound phone calls which are converted into paying subscribers via an in-house sales center. CLEARLINK added more than 200 employees in 2010, nearly doubling the size of its workforce and foresees substantial growth in the year to come. CLEARLINK has received numerous awards and recognition from the Inc. 500, Utah Work/Life Awards, MWCN Utah 100, and Utah’s Fast 50, among others. For additional information, please visit www.clearlink.com
About Pamlico Capital
Pamlico Capital, formerly known as Wachovia Capital Partners, was founded in 1988 and has invested in excess of $3.5 billion in over 200 middle market companies since its inception. Pamlico Capital seeks growth equity and buyout investments of up to $100 million alongside proven management teams in its target industries, which include business & technology services, communications, and healthcare. The firm, based in Charlotte, NC, currently manages over $2 billion in assets. Please refer to www.pamlicocapital.com