Pamplona Capital Management has acquired a majority stake in Evanston, Illinois-based Legacy.com, a provider of online obituaries. No financial terms were disclosed.
BOSTON, March 22, 2017 /PRNewswire/ –Pamplona Capital Management (“Pamplona”) announced today that, together with the management team of Legacy.com, it has acquired a majority interest in Legacy.com, the leading provider of obituary-related products and services to newspapers, funeral homes, and more than 43 million monthly visitors across the globe. It is Pamplona’s fourth investment from Pamplona TMT I, L.P., its $1 billion, U.S.-based private equity fund focused on growth equity and control investments in the technology, media, and telecommunications sectors.
This investment follows more than a decade of double-digit growth at Legacy.com, driven by a surging e-commerce business, a flourishing top 40 internet web domain, and an expanding U.S. and global presence. Already the worldwide leader in the online digital memorialization space, the company intends to continue its aggressive investment in product innovation and further expand its partner network.
“The winners in this investment will be Legacy’s partners, including the newspapers, funeral homes, florists, charities, and – most importantly – our growing audience of more than 43 million online visitors each month,” said Legacy.com’s founder and CEO, Stopher Bartol. “We’re excited by Pamplona’s energy and its commitment to Legacy’s growth and innovation, which aims to help more people honor and pay respects to the lives that matter to us all.”
Deeply rooted in the Chicago metropolitan area, Legacy.com continues to expand its Los Angeles operation as well, where its Legacy Labs division helps to define the next generation of products and services for online memorialization.
“Legacy.com has built an exciting business that is well positioned for continued geographic expansion and ongoing audience growth, given behavioral and demographic shifts across the globe,” said Hiren Mankodi, Partner, Pamplona. “The company’s singular focus on the growth of this category has resulted in winning the long-term trust of some the largest news media companies and funeral home partners. Legacy.com provides daily management and growth for obituary-related revenue to its partners with unmatched know-how in the space, consistently expanding reach, engagement, and value, resulting in superior monetization with award-winning customer service. We’re thrilled to partner with the talented management team at Legacy.com and to provide the investment to drive the next level of growth for this business.”
To date, Pamplona TMT I, L.P. has announced investments in: Dyn, the worldwide leader in internet performance management; Logicworks, a leading cloud automation and managed services provider; and Nova Sciences, a new platform entity formed to pursue acquisitions in the industrial instrumentation industry. Dyn was subsequently acquired by Oracle in January 2017.
Legacy.com is the global leader in online obituaries, with over 43 million visitors each month, and is ranked by Quantcast as a Top 40 domain in the United States. Through the Legacy.com and Tributes.com brands, the company provides support and obituary-related services to more than 1,500 newspapers and 3,500 funeral homes in the U.S., Canada, Australia, New Zealand, U.K., and Europe, helping people express condolences and share remembrances of loved ones. Legacy.com’s partners benefit from unparalleled scale and expertise that enables the delivery of industry-leading products, innovative e-commerce solutions, and award-winning customer service. Legacy.com is headquartered in Evanston, Illinois. Visit http://www.legacy.com for more information.
About Pamplona Capital
Pamplona Capital Management is a London, New York, and Boston-based specialist investment manager established in 2005 that provides an alternative investment platform across private equity, fund of hedge funds, and single-manager hedge fund investments. Pamplona Capital Management, LLP manages over $10 billion in assets across a number of funds for a variety of clients including public pension funds, international wealth managers, multinational corporations, family offices, and funds of hedge funds. Pamplona invests long-term capital across the capital structure of its portfolio companies in both public and private market situations. Pamplona TMT I, L.P., is a $1 billion U.S.-based private equity fund that makes equity investments in technology, media, and telecom companies. Please see http://www.pamplonafunds.com for further information.