Bookend Capital took a minority equity position in Centric Digital, a provider of digital solutions to businesses. Terms of the investment were not disclosed. Alexander S. Panos, founder of Bookend, will join Centric Digital’s board.
NEW YORK, NY, February 18, 2016 – Centric Digital, a leading global digital transformation solutions provider, today announced that Bookend Capital has made an investment in the company. Founded in 2009, Centric Digital has been recognized as one of the fastest growing private companies in America, including being ranked on the Inc. 500 for the past two consecutive years (including #34 overall and #1 in New York in 2014) and the Crain’s Fast 50. Bookend Capital’s investment represents Centric Digital’s first institutional funding.
“We selected Bookend Capital for its proven track record of supporting fast-growing, game-changing companies,” said Jason Albanese, Chief Executive Officer of Centric Digital. “This strategic investment will further accelerate the expansion of best-in-class capabilities and our global footprint.”
“Our frameworks, data and platform are fast-becoming the industry standard for enterprises to measure and drive digital transformation” said Brian Manning, President & Chief Digital Officer of Centric Digital. “We will continue to innovate solutions that drive results for our clients.”
“Jason Albanese and Brian Manning are digital visionaries,” said Alexander S. Panos, Founder of Bookend Capital. “With Centric Digital, they have built a robust business with market leadership and long-term growth potential – exactly the kind of elements we target in an investment.”
Bookend will take a minority equity position in Centric Digital. Mr. Panos will join Centric Digital’s board of directors, and support the company’s expansion plans in consumer products, fashion, beauty and retail. Other terms of the transaction were not disclosed.
GCA Savvian Advisors, LLC served as financial advisor and Goodwin Procter served as legal counsel to Centric Digital. Paul Hastings served as legal counsel to Bookend Capital.
About Centric Digital
Centric Digital is a leading digital transformation partner, providing solutions to traditional businesses to revive their business models, rejuvenate their customer experience, and automate their business operations for the digital age. Its frameworks, data and platform are fast-becoming the industry standard for enterprises to measure and drive digital transformation. Global enterprises across health, finance, retail, industrials and government rely on Centric Digital to interpret digital trends, benchmark their digital capabilities, create digital business strategies, and deliver digital and mobile experiences. For more information on the company, visit centricdigital.com and for insights on digital trends visit centricdigital.com/blog.
About Bookend Capital
Bookend Capital was founded in 2015 by Alexander S. Panos, a former General Partner and Managing Director at TSG Consumer Partners. Bookend makes investments in dynamic companies with long-term growth potential. Bookend has a perpetual investment horizon and supports management teams to build sustainable market leadership. For more information, visit bookendcapital.com.