SQAD Announces Completion of Acquisition by Clarion Capital Partners
Neil Klar to Remain CEO, Stephen Baker Appointed CFO
TARRYTOWN, NY (November 5, 2013)– SQAD, the largest independent source in the US for TV, radio and digital cost analysis, today announced that Clarion Capital Partners, LLC has completed an acquisition of the company. The existing shareholders, including the CEO, Neil Klar, will maintain an ownership stake in SQAD and continue to build on the historical success of the business in partnership with Clarion.
This partnership will allow SQAD to grow organically through refinement and augmentation of existing products and an investment in additional data driven product development across new and existing verticals. SQAD will also invest in new personnel additions and look to make strategic acquisitions.
Neil Klar will remain CEO and continue to lead and oversee the operations of the business. Joining the leadership team, and as part of Clarion’s investment, SQAD has hired industry veteran Stephen J. Baker as its CFO. The terms of the transaction, which closed on October 31, 2013, were not disclosed.
“SQAD has an exceptional management team and is highly respected within the media industry, ” said David Ragins, Managing Director with Clarion Capital Partners. “We are in a media landscape where the value of timely and accurate data to make critical advertising decisions is unprecedented, and SQAD is uniquely positioned to capitalize on this revolution thanks to its exceptional data-focused products and industry leadership position.”
“With this partnership, we are transitioning into an accelerated growth mode, ” said Neil Klar, CEO of SQAD. “By enhancing our current offerings and expanding to launch new and relevant data-focused products and services, we will be better equipped to serve our clients and the changing landscape of the media industry as a whole.”
“SQAD is a tremendous platform for organic growth and add-on acquisitions, ” said Mr. Ragins. “Clarion will provide SQAD with added resources and experience to evaluate potential partnerships and acquisitions that offer additional value for SQAD’s customers.”
Clarion was represented in this transaction by its counsel, Dow Lohnes PLLC and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. SQAD was represented by Stroock & Stroock & Lavan LLP.
Investment bank Petsky Prunier served as exclusive financial advisor to SQAD.
SQAD® is recognized as the industry standard media cost forecasting source for national TV (NetCosts™—network TV, cable and syndication), Spot TV, Hispanic Spot TV Plus, Spot Radio and the Internet (WebCosts®). SQAD provides reliable media data to advertising agencies, buying services, advertisers, television and radio stations, cable operators, program syndicators and Internet publishers. SQAD enjoys strong partnerships with market leaders in both data and analytics. Established in the 1970s, SQAD serves over 1, 500 clients.
About Clarion Capital Partners, LLC
Clarion Capital Partners is a New York based middle market private equity firm. Clarion invests in growing companies in a variety of industries including Media & Entertainment, Consumer Products, Specialty Retail, Business Services, Healthcare Services and Specialty Financial Services. Additional information on Clarion can be found at www.clarion-capital.com.
Dukas Public Relations