High Road Capital Partners has acquired Toronto-based Ariad Communications, which it will combine with its platform company Bluespire Marketing.
Ariad is a strategic marketing agency specialising in serving Canadian clients with content, digital marketing and consumer activation capabilities.
Bluespire is a leading provider of strategic, multi-channel marketing solutions with emphasis on end-user content and digital marketing for healthcare, financial services and senior living companies. Each business will continue to operate its brands.
Mike Beckerman (pictured), a 20-year marketing veteran and President of Ariad, will serve as CEO of the combined company.
“Ariad and Bluespire are experts in strategy, content and technology with deep subject matter expertise in healthcare and financial services, giving our existing and prospective clients expanded resources to draw from,” says Beckerman. “And we have the opportunity to bring Bluespire Senior Living’s market-leading offering to Canada, and Ariad’s award-winning consumer packaged goods expertise to the US.
“Our new North American platform is amplified by complementary services and broader capabilities,” adds Beckerman. “I look forward to working in partnership with the executive team at Bluespire to help all our clients achieve better business results.”
“Bluespire and Ariad serve large and growing markets that are often regulated, requiring specific expertise with respect to content creation, marketing outreach, and management of customer data,” says Jeff Goodrich, High Road Partner. “With this combination, both companies are better positioned to help clients grow their businesses with marketing programs that deliver high ROI and profitable customer engagement,” Goodrich said.
Jeff Goodrich led the transaction for High Road. He was supported by Bill Hobbs, Operating Partner; Scott Rubino, Vice President; and James Karle, Associate. Mike Beckerman invested in the transaction alongside High Road. Fifth Third Bank provided senior debt financing for the transaction along with US Bank and Royal Bank of Canada. Babson Capital Management provided subordinated debt financing and also invested equity. Bluespire’s legal counsels were Thompson Hine and Blake, Cassels & Graydon. Ariad’s financial advisor was Petsky Prunier and its legal counsel was Baker & McKenzie.
