Denver-based private equity firm Mountaingate Capital has sold its position in Bounteous in connection with a new investment in the company completed by New Mountain Capital.
The exit of Bounteous represents another successful outcome for Mountaingate’s investors in a digital marketing services platform with highly differentiated capabilities. Mountaingate first partnered with Bounteous’ predecessor entity HS2 Solutions, and its co-founders Keith Schwartz and Phil Hollyer, in 2016. The five-year partnership between Bounteous and Mountaingate resulted in six-fold growth.
Bounteous helps clients solve their most difficult digital challenges by building unique, insights-driven customer experiences that leverage a powerful blend of data analytics, design, and engineering. From strategy to execution, Bounteous is co-innovating with category-leading brands such as Caesars Entertainment, Coca-Cola, Domino’s, and Mars Wrigley to maximise their platform investments and grow their digital maturity.
Schwartz says: “When Phil and I made the decision to enlist the support of a private equity partner in 2016, Mountaingate quickly rose to the top of the list as they demonstrated an impressive working knowledge of our industry and a profound respect for the importance of our culture in everything that we do. I’m convinced we could not have been supported by a better partner over the last five years.”
Phil Hollyer, added, “Mountaingate Capital was critical to helping us close and integrate five highly strategic acquisitions, all of which helped Bounteous become a more valuable partner to our clients. We believe the best is yet to come for Bounteous and our team members, and we’re thrilled to now have the support of New Mountain to support us in the next phase of our growth.”
“It has been a true honour to be associated with Bounteous during a period of transformative growth and maturation over the last five years; all the credit goes to management for truly superb execution of the strategic plan we envisioned at the outset of our partnership,” adds Colton King, Co-Founder and Managing Director of Mountaingate. “Congratulations to Keith and Phil and the rest of the team at Bounteous on their new partnership with New Mountain Capital. The future for Bounteous has never been brighter.”
Bounteous and Mountaingate Capital were advised by Canaccord Genuity and law firm Wilmer Cutler Pickering Hale and Dorr LLP.
