Halyard Capital, a New York-based private equity fund, has sold its portfolio company Engauge Marketing to Publicis Groupe, the marketing services holding company.
Financial terms have not been disclosed.
Engauge is a digital advertising services agency in the US. Engauge was founded by Halyard Capital in partnership with the legendary marketing executive Stan Rapp, with the goal of bringing together innovative, best-of-breed marketing capabilities under one unified brand.
Launched in 2007, Engauge was formed through the union of Ten United, a Columbus, Ohio-based advertising agency with offices in Pittsburgh and Orlando; Spunlogic, a digital marketing services company in Atlanta; and Direct Impact, a database analytics and CRM company in Austin, Texas. The company provides full-service advertising and digital marketing services, including a burgeoning social media marketing practice, to more than 30 clients. Engauge today has four offices and approximately 250 employees.
Nick Bandy, chief executive of Engauge, says: "We are deeply appreciative of the strategic guidance and support that Halyard Capital has provided Engauge over the last six years. They have been outstanding partners for our management team, as we have navigated the increasingly complex world of digital marketing. The acquisition by Publicis Groupe validates our strategy and will benefit both our clients and our employees, as we tap into the resources and expertise of one of the world’s leading communication groups."
Jonathan Barnes, partner of Halyard Capital, says: "The team at Halyard expresses its sincere thanks to the entire Engauge management team for its commitment, creativity and hard work over the last six years. Engauge’s outstanding capabilities have been recognized by many of the top brand marketers in the U.S and we are proud to have been the company’s founding owner. This sale to Publicis is an exciting next step in the growth of Engauge."
Engauge Marketing and Halyard Capital were represented by investment bank Petsky Prunier, which served as the exclusive financial advisor on the transaction. Akin Gump Strauss Hauer & Feld provided legal counsel to the sellers. Davis & Gilbert provided legal counsel to Publicis Groupe.