New Mountain Capital

New Mountain Capital (“New Mountain”) is an alternative investment manager with private equity, credit, public equity and net lease strategies. New Mountain’s aggregate assets under management total over $30 billion across all investment strategies.[2]

New Mountain Capital
TypePrivate
IndustryPrivate Equity, Credit, Hedge Fund, Net Lease Real Estate
Founded1999 (1999)
HeadquartersNew York, NY
Key people
Steven B. Klinsky (Founder & CEO)
John Kline (President)
Adam Weinstein (CFO)[1]
ProductsLeveraged buyout business development company (BDC), Hedge Fund, Net Lease
AUM$30+ billion
Number of employees
170+
Websitenewmountaincapital.com

In April 2015, New Mountain reached a $460 million acquisition agreement with Zep, Inc., a cleaning chemicals company, to take the company private. The deal was approved unanimously by Zep’s board.[3][4] A stockholder vote in June 2015 approved the merger with 99.3 percent of the vote in favor.[5]

In December 2020, New Mountain took a majority ownership stake in Tinuiti, an ad and digital marketing agency targeting clients doing business with the “triopoly” of Google, Facebook and Amazon.com. Tinuiti, led by CEO Zach Morrison, expected annual revenue of $200 million following the planned acquisition of Ortega Group LLC, which focuses on sellers on Amazon, in 2021. The combined entity was expected to have nearly 800 employees and, per Morrison, was looking ahead to further acquisitions.[6]

In 2019 Ontario Systems Announces Investment from New Mountain Capital. In 2021 Ontario Systems rebrands to Finvi.[7]

In July 2021, the aforementioned Tinuiti agreed to the acquisition of Bliss Point Media, a company specializing in buying digital-streaming and connected-TV ads. Bliss Point expects to earn around $50 million in 2021, according to Tinuiti CEO Zach Morrison, and stated that the deal could generate around $250 million in revenue. The acquisition marks the second purchase by New Mountain Capital in recent months.[8][9]

References
  1. "Our Team – New Mountain Capital".
  2. Stanley, Casey (2019-08-27). "Ontario Systems President Jason Harrington Named New CEO". Business Wire. Retrieved 2021-03-12.
  3. Chen, Angela (April 8, 2015). "New Mountain Capital to buy Zep for $460 mln". MarketWatch. Retrieved 2012-06-09.
  4. "New Mountain Capital buying Zep Inc. for $692 million and taking it private". Atlanta Business Chronicle. April 8, 2015. Retrieved 2012-06-09.
  5. "Zep Inc.'s stockholders approve merger". Professional Carwashing & Detailing. June 26, 2015. Retrieved 2021-06-09.
  6. Bruell, Alexandra, "Tinuiti Acquires Amazon Specialist Ortega Group, Adds Kevin Mayer to Board" (subscription required), Wall Street Journal, March 17, 2021. Retrieved 2021-03-19.
  7. Digital Healthcare (2021-10-07). "Latest investments: Finvi, Svast Inc, Cigalah Group & more". Healthcare Global. Retrieved 2021-12-02.
  8. "GP Bullhound advises Bliss Point on sale to Tinuiti". www.privateequitywire.co.uk. 2021-07-20. Retrieved 2021-07-20.
  9. Bruell, Alexandra (2021-07-19). "WSJ News Exclusive | Tinuiti to Acquire Connected TV Ad-Buying Business Bliss Point Media". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-07-20.


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