Global programmatic media partner MiQ has announced a new key partnership with private equity group Bridgepoint.
As part of the partnership, Bridgepoint will support MiQ’s existing management team to deliver the next phase of programmatic media solutions, with a focus on continued international expansion and client growth.
This investment represents a realisation for growth-focused private equity firm ECI Partners, who have been partnered with MiQ since 2017, generating a 6.1x return.
“Our success is built on revolutionising the way companies can maximise data, but unique business challenges around data science, analytics and programmatic trading are getting more complex every day,” said Gurman Hundal, co-founder and Global Executive Chairman, MiQ. “Bridgepoint’s proven track record of innovative and scalable investments matches our ambition to move to the next chapter to deliver for our people and clients. We’d like to thank Tom Wrenn and the ECI team for the fantastic support in helping us develop over the past five years, helping us turn MiQ into a truly global business. We look forward to where MiQ is going over the next five years and beyond.”
“The connected and data-driven world continues to change and MiQ will evolve along with it,” said Lee Puri, co-founder, MiQ. “We’re beyond excited to work with Director Charles Welham and Partner and Chief Investment Officer Xavier Robert, as well as the entire Bridgepoint team, in this new milestone in our global growth journey.”
Charles Welham, director of Bridgepoint in London, said, “MiQ is a major global player partnering with some of the world’s leading brands and agencies to deliver high-performing advertising campaigns and drive true business change through data analytics and insights. It offers leading analytics solutions and platforms to companies everywhere and has achieved significant growth over the last few years. Gurman, Lee and the entire MiQ family have cultivated best-in-class processes around innovation, technology and data partnerships, and we look forward to providing the necessary expertise to help maximise the company’s market potential.”
Tom Wrenn, Partner at ECI, commented, “It has been an amazing journey with Gurman and Lee, backing them in their ambition to grow MiQ into a global programmatic market leader.”
“Since our investment the team have developed and executed an incredible North American expansion strategy, with over two-thirds of group revenue now coming from the US. Delivering a 6.1x return is representative of the fantastic partnership, and Gurman and Lee’s enthusiasm and ambition has made this investment a career highlight. We wish them all the best for the next stage of the MiQ journey.”
Jefferies, with a team led by Nandan Shinkre, European Head of Technology Investment Banking, and Tariq Hussain, European Head of M&A, have been appointed the financial advisors for this transaction.