PE-backed Bold Orange buys Three Deep

Bold Orange, which is backed by Mountaingate Capital, has acquired St. Paul, Minnesota-based Three Deep Marketing, a provider of performance marketing solutions.

Bold Orange, which is backed by Mountaingate Capital, has acquired St. Paul, Minnesota-based Three Deep Marketing, a provider of performance marketing solutions. No financial terms were disclosed.

PRESS RELEASE

MINNEAPOLIS–(BUSINESS WIRE)–Award-winning customer experience specialist Bold Orange Company (Bold Orange) recently announced that it has acquired Three Deep Marketing (Three Deep), the rapidly growing St. Paul-based provider of performance marketing solutions including Salesforce Marketing Cloud implementation and optimization services.

The acquisition of Three Deep follows a very robust growth year in 2020 for Bold Orange, which more than doubled its team in order to support the addition of 10 new clients. “At Bold Orange we feel it’s imperative to help our clients with their strategy, content, media, and MarTech optimization,” said Margaret Murphy, founder and CEO of Bold Orange. “Many of our competitors focus on one or the other – content or technology. Our goal is to create powerful content while simultaneously optimizing marketing technology to deliver customer experiences that drive bottom line impact for brands. With Three Deep we can now do this in greater ways for clients who are looking for expertise in Salesforce Marketing Cloud. We’re delighted to welcome this talented and dedicated group of professionals to our team.”

Bold Orange has a vast array of clients including Polaris, Anytime Fitness, SPS Commerce and eBay. With the addition of Three Deep’s roster, that will expand to include Watkins Wellness, Renewal By Andersen, Electrolux and many others.

“Bold Orange has an incredible reputation for excellent client service and transforming customer experiences. They are the perfect fit for our performance marketing and technology capabilities,” said Dave Woodbeck, co-founder and President of Three Deep Marketing. “We’re excited to join Margaret and the Bold Orange team as we share the same level of passion for driving strong outcomes for our clients and an inspiring culture for our employees.”

Bold Orange was built on the belief that authentic human connections are the single most important driver of business and societal progress. Awarded Best Workplaces of 2020 by Inc. Magazine, Bold Orange will now have offices in both Minneapolis and St. Paul. Margaret Murphy will continue in her role as CEO of the combined company and Dave Woodbeck will join her management team as EVP, Managing Director.

The Three Deep transaction marks Bold Orange’s first acquisition since partnering with Mountaingate Capital in 2018.

“The acquisition of Three Deep aligns perfectly with Bold Orange’s mission of delivering leading end-to-end customer experiences and performance marketing to its clients. Considering the shared philosophy of a client-centered, data-informed approach to marketing, we are excited to see the benefits that the combined business will deliver to our clients and employees,” commented Colton King, Mountaingate Capital Managing Director.

About Bold Orange Company
Bold Orange Company, headquartered in Minneapolis, MN, is an award-winning customer experience company with a two-fold purpose: to drive business and societal progress. Bold Orange focuses on helping brands outperform in the areas of acquisition, growth, engagement and retention. For more information, visit Bold Orange.

About Three Deep Marketing
Three Deep Marketing, headquartered in St. Paul, MN, is a results-driven performance marketing company. Three Deep’s expertise in digital media, personalized experiences, customer analytics, and implementing and enabling Salesforce technology improves business outcomes and drives efficiency for brands.

About Mountaingate Capital
Mountaingate Capital, based in Denver, CO, is a private equity firm that specializes in building and empowering companies with strong growth potential and engaged leadership teams. The firm was launched by a team of partners with deep investment expertise in four distinct market sectors: marketing services, business/industrial services, specialty distribution and specialty manufacturing. Mountaingate’s focus on organic growth coupled with its proven customer-centric buy-and-build approach for add-on acquisitions and shared equity ownership with management creates more value for the end customer, while forging stronger, more collaborative, and more successful investment partnerships with management teams.