H.I.G. Growth Partners Announces the Sale of AdTheorent to Cadent
BOSTON – June 21, 2024 – H.I.G. Growth Partners (“H.I.G. Growth”), the dedicated growth capital investment affiliate of H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with $64 billion of capital under management, is pleased to announce the sale of its portfolio company AdTheorent (Nasdaq: ADTH), a machine learning pioneer delivering measurable value for programmatic advertisers. AdTheorent has been acquired by Cadent, LLC (“Cadent”), a leading provider of platform-based converged TV advertising solutions.
Headquartered in New York, AdTheorent’s machine learning-powered Platform A\T powers its predictive targeting, geo-intelligence, audience extension solutions, and in-house creative capability, Studio A\T. H.I.G. Growth first invested in AdTheorent in 2017, attracted to its intelligence-driven approach to digital advertising and market-leading machine learning capabilities in a rapidly evolving advertising technology landscape.
AdTheorent is consistently recognized with numerous technology, product, growth and workplace awards, including being named “Best AdTech Platform” in the 2024 Digiday Media Awards, and was honored with an AI Breakthrough Award and “Most Innovative Product” (B.I.G. Innovation Awards) for six consecutive years.
“We’re extremely proud of our work to help AdTheorent, grow into a leader in the modern advertising space, leveraging its pioneering machine learning driven capabilities to deliver measurable value for programmatic advertisers,” said Eric Tencer, Managing Director at H.I.G. Growth.
Jim Lawson, CEO and Board Member of AdTheorent, added, “H.I.G. Growth has been an outstanding partner for AdTheorent over the last seven years. With their help, we’ve truly validated our technology in this new advertising age.”
Canaccord Genuity acted as financial advisor and McDermott Will & Emery L.L.P. acted as legal counsel to AdTheorent in connection with the transaction.
About AdTheorent
AdTheorent uses advanced machine learning technology to deliver impactful advertising campaigns for marketers. AdTheorent’s advanced machine learning-powered media buying platform powers its predictive targeting, predictive audiences audience extension solutions and in-house creative capability, Studio A\T. Focused on the predictive value of machine learning models, AdTheorent’s product suite and flexible transaction models allow advertisers to identify the most qualified potential consumers coupled with the optimal creative experience to deliver superior results, measured by each advertiser’s real-world business goals. AdTheorent is headquartered in New York, with fourteen locations across the United States and Canada.
About H.I.G. Growth Partners
H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global alternative investment firm with $64 billion of capital under management.* H.I.G. Growth seeks to make both majority and minority investments in strong, growth-oriented businesses located throughout North America, Europe, and Latin America. H.I.G. Growth Partners invests across all industries, with a focus on certain high-growth sectors where it has extensive in-house expertise, such as technology, healthcare, internet and media, consumer products, and technology-enabled financial and business services. H.I.G. Growth works closely with its management teams to serve as an experienced resource, providing broad-based strategic, operational, recruiting, and financial management services from a large in-house team and a substantial network of third-party relationships. For more information, please refer to the H.I.G. website at HIGgrowth.com.