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TZP Group invests in online advertising and digital production firm

South Carolina-based avVenta Worldwide, a provider of online advertising and digital production, has announced the closing of an approximately USD20m investment by an affiliate of TZP G

South Carolina-based avVenta Worldwide, a provider of online advertising and digital production, has announced the closing of an approximately USD20m investment by an affiliate of TZP Group, a New York-based private equity firm focused on investments in lower middle market business and consumer services companies.

The investment will be used to continue avVenta’s growth and global expansion plans.
 
Founded in 2005, avVenta Worldwide serves clients such as Microsoft, Citigroup, Norwegian Cruise Line, Sony, MTV, eBay, Ogilvy, Prodigious Worldwide, Organic and TBWA.

‘TZP is a financial partner with deep operational experience whose principals have invested in, built, and operated some of the largest and most well known business and consumer services brands in the world,’ says Jay Noce, president and chief executive of avVenta Worldwide.

‘Their leadership and expertise growing global businesses in the media, marketing services and consumer brand marketplaces made TZP a natural choice when we decided to seek growth capital.’

Sam Katz, managing partner of TZP Group (photo), says: ‘TZP believes the migration to digital media is, and will continue to be, one of the most powerful trends in the media and marketing services industries. AvVenta’s combination of outstanding delivery, extraordinary quality, a compelling value proposition for its clients, excellent management, deep understanding of the digital space and world-class product offerings make the firm an ideal investment for TZP.’
 
In connection with the TZP investment, Katz will become chairman of avVenta’s board of directors and senior principal Dan Galpern will become a member of the board.
 
Linda Gridley and Stan Sandberg of Gridley & Company served as avVenta’s financial advisers in the transaction.

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