Private equity’s digital marketing dash: 8 deals

The future of marketing is digital, and private equity is taking notice. Trent Sisson, managing director at Mountaingate Capital, told PE Hub that for a long time, marketing was viewed as discretionary spend without a clear return on investment. With the rise of digital and performance marketing through the 2000s and 2010s, that changed.

“Over the last 15 years, digital marketing has grown to be over 50 percent of total marketing spend annually, driven by the fact that it has [a] clear ability to show return on investment,” said Sisson. “That makes the spend much stickier with clients, and therefore makes high-performing agencies much better potential private equity partners.”

Going forward, Sisson expects more digital marketing activity. “We continue to see excellent velocity in the space and tremendous opportunities for firms to partner with high-quality founders and entrepreneurs looking to accelerate growth and expand offerings,” he said.

Starting from the most recent, PE Hub rounded up eight deals across the globe for digital marketing agencies or firms going back to the beginning of the year. (We have noted the headquarters location for all targets.)

1. Gemspring-backed ROR Partners makes a deal for Incline Marketing

In June, ROR Partners, a portfolio company of Gemspring Capital, announced that it acquired Incline Marketing, a St Petersburg, Florida-based digital marketing agency.

Based in Las Vegas, ROR is an artificial intelligence-powered performance marketing firm. Incline Marketing caters to home service providers, including companies in roofing, pest control, pool services, HVAC and related industries.

The agency’s capabilities include local and national SEO, website development, CRM platform operations, customer call centers, large language model optimization and Google local services ads.

2. Trinity Hunt-backed Herringbone Digital picks up Hennessey Digital

Also in June, Trinity Hunt Partners-backed Herringbone Digital acquired Hennessey Digital, a digital marketing agency serving law firms nationwide.

The deal was Herringbone Digital’s first investment in the legal marketing vertical. Based in Valencia, California, Hennessey Digital was founded in 2015 by Jason Hennessey. The agency specializes in SEO and other complementary digital marketing tools for law firms, with a particular focus on personal injury practices.

3. Mountaingate portfolio company Ignite Visibility scoops up Rallio

In May, Mountaingate Capital-backed Ignite Visibility acquired Rallio. Based in Irvine, California, Rallio is a social media, listings and reputation management business. Based in San Diego, Ignite Visibility is a digital marketing services firm.

The Rallio transaction is Ignite Visibility’s third acquisition since partnering with Mountaingate Capital in February 2023.

4. Bridgepoint portfolio company Samy Alliance acquires Intermate

In another April deal, Bridgepoint-backed Samy Alliance acquired Intermate from ECM Equity Capital Management. Founded in 2015, Intermate is a social media and influencer marketing business.

Based in Germany, the company provides services to brands across various industries such as automotive, telecommunications and consumer goods.

5. Mountaingate-backed Ignite Visibility adds digital marketing agency Outliant

In April, Mountaingate Capital-backed Ignite Visibility acquired Outliant.

Based in Austin, Texas, Outliant is a web development and digital marketing agency. Erwan Lent, co-founder of Outliant, assumed the role of senior vice-president of technology at Ignite after the deal.

6. Trinity Hunt makes an investment in TNT Dental

In March, Trinity Hunt Partners made an investment in TNT Dental.

Based in Richardson, Texas, TNT Dental is a digital marketing agency focused on SEO, paid media services and website development for dental practices nationwide. TNT Dental currently serves over 1,500 dental practices in North America.

7. Clearview-backed UpSwell acquires Taradel

In February, UpSwell, a portfolio company of Clearview Capital, acquired Taradel, a Glen Allen, Virginia-based direct mail and digital marketing services provider.

Headquartered in Marietta, Georgia, UpSwell also provides direct mail and digital marketing services. UpSwell was founded in 2020, after the rebrand of the merged Clearview portfolio companies, Mudlick Mail and Muscle Up Marketing.

“Taradel’s strong front-end technology paired with UpSwell’s data analytics capabilities and sales culture should result in accelerated growth for both businesses,” Geoff Faux, partner at Clearview, said in a statement.

8. Bridgepoint increases stake in Samy Alliance

In February, Bridgepoint announced it would reinvest in Samy Alliance. Based in Madrid, Samy is a social media marketing company specializing in influencer marketing, social media management and amplified paid social campaigns.

Founded in 2012, the company operates in 15 countries with over 600 employees. Samy achieved €100 million in revenue in 2024.

The new investment saw Bridgepoint become Samy’s majority shareholder, following its initial minority investment in 2023.

Samy’s existing backers, including its main shareholder, Aurica Capital, and other minority investors, such as Inveready and Sabadell Venture Capital, sold their stakes as part of the deal.

Note: Bridgepoint owns PEI Group, the publisher of PE Hub.