Financing for the transaction was provided by funds managed by PennantPark Investment Advisers, LLC, Stellus Capital Management, and Five Points Capital. On the purchase of Ad.net, Clarion received legal advice from Brownstein Hyatt Farber Schreck, LLP and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. Clarion’s deep industry knowledge and long-term approach made them the right partner for Ad.net, and we are eager to join forces to bring even greater value and ROI to our customers,” added Jon Waterman.ĭavid Ragins, Managing Director at Clarion, added, “The leadership team at Ad.net have built an outstanding company and we are excited to work together over the next several years to continue expanding the company’s presence and market leadership.” Brandon Katz, Principal at Clarion, added, “We are proud to partner with an incredible entrepreneur, Jon Waterman, and the rest of the management team to further enhance the company’s ability to drive high-value digital advertising campaigns.”
“With Clarion’s experience and vast resources, this deal allows us to invest in new solutions and technologies to better serve our growing customer base, which includes many of the largest and most well-known brands and agencies. “We’ve spent the last several years building a company that is leading the charge in driving innovative campaign strategies and customer acquisition solutions for the fast growing digital marketing sector and we are thrilled to partner with Clarion to accelerate this momentum,” said Jon Waterman. In addition to organic growth initiatives, Ad.net and Clarion will seek M&A opportunities to expand the company’s capabilities and reach. With Clarion’s partnership, Ad.net will accelerate its product innovation, drive new customer acquisition strategies, and augment its supply of high performing online publishers to meet the growing demand of its customer base. “We are proud to partner with an incredible entrepreneur, Jon Waterman, and the rest of the management team to further enhance the company’s ability to drive high-value digital advertising campaigns.” The terms of the transaction, which closed on May 7th, were not disclosed. Jon Waterman, Ad.net’s CEO and founder, will maintain a significant ownership stake in the Company and will continue as CEO. NEW YORK - Clarion Capital Partners, LLC (“Clarion”) announced today that it has completed a strategic investment in Ad.net, Inc (”Ad.net”), a leading provider of digital performance advertising through intent-driven marketing for leading brands and agencies.
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