SQAD L.L.C., a Tarrytown-based provider of media cost data and television, radio and digital cost analysis, has been acquired by Clarion Capital Partners L.L.C., a middle market private equity firm in Manhattan.
Terms of the deal, which closed on Oct. 31, were not disclosed.
SQAD”™s existing shareholders, including CEO Neil Klar, will maintain an ownership stake in the company and continue to build on the historical success of the business in partnership with Clarion, the companies said in a press release.
As part of Clarion”™s investment, SQAD has hired industry veteran Stephen J. Baker as its chief financial officer. Klar will remain as CEO.
“SQAD has an exceptional management team and is highly respected within the media industry,” said David Ragins, managing director at Clarion Capital Partners. “We are in a media landscape where the value of timely and accurate data to make critical advertising decisions is unprecedented, and SQAD is uniquely positioned to capitalize on this revolution thanks to its exceptional data-focused products and industry leadership position.”
Klar said the Clarion acquisition moves SQAD into “an accelerated growth mode” as it enhances its current offerings to clients and launches new data-focused products and services.
Ragins said Clarion “will provide SQAD with added resources and experience to evaluate potential partnerships and acquisitions that offer additional value for SQAD”™s customers.”
Clarion was represented in the transaction by the law firms of Dow Lohnes P.L.L.C. and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo P.C. Â SQAD was represented by Stroock & Stroock & Lavan L.L.P.
The investment bank Petsky Prunier served as exclusive financial advisor to SQAD.
SQAD”™s clients include advertising agencies, buying services, advertisers, television and radio stations, cable operators, program syndicators and Internet publishers. Established in the 1970s, the Tarrytown company serves more than 1,500 clients.
Clarion Capital Partners invests in growing companies in various industries, including media and entertainment, consumer products, specialty retail, business services, healthcare services and specialty financial services. The firm was founded in 1999.
