HIG Growth Partners has sold its holdings in Media Properties Holdings (MPH) to private equity backed Cannella Response Television (CRT), a specialist in long-form direct response (DRTV) television media.
MPH operates US-based automated TV advertising platform AdMore, as well as TV commercials provider REVShare and its proprietary network of more than 1,700 local broadcast stations, national cable networks and cable systems.
“The team at HIG Growth Partners knew early on that their investment in our business would be successful if we could actively leverage our aggregated media assets and participate in the ongoing rise of the all-important programmatic TV advertising sector. HIG was extremely supportive of the company as we executed our strategy,” says MPH President Brendan Condon, whom HIG actively recruited to lead MPH in 2010.
“Along with leveraging media assets to participate in programmatic TV advertising, Brendan and the team also worked diligently to attract sizeable national brand ad agencies to its technology platform. These successes resulted in rapid, profitable growth and sparked interest from a host of diverse buyers, leading to today’s successful sale of the company,” says John Kim, HIG Growth Partners’ Managing Director and MPH Board Director. HIG co-led MPH’s first institutional round in 2007.
