Slate and New Markets build on their combined strength and momentum in the business services sector.
Baltimore, Md. (PRWEB) November 24, 2009 -- Slate Capital Group (www.slatecap.com), a private equity firm based in Baltimore, Maryland, and New Markets Venture Partners (www.newmarketsvp.com), a venture capital firm based in College Park, Maryland, today announced that they have acquired Ecoast Sales Solutions, Ltd. ("eCoast"). eCoast, based in Rochester, NH, is an outsourced sales and channel marketing agency that executes highly-customized programs for the high-technology industry.
"We are excited about our partnership with Slate and New Markets and the growth potential that is ahead of us," said Allen Tait, co-CEO of eCoast. "There is a tremendous need for the lead generation services that eCoast provides, and the company has continued to expand its capabilities to support channel partners in their marketing and demand generation efforts. With the resources and expertise that Slate and New Markets provide, we can enhance our offerings, expand our presence and our customer base, and solidify our leadership position in our industry."
Chris Montgomery, co-CEO of eCoast, and Allen Tait identified eCoast as a platform company to enter the rapidly-growing demand generation and channel management space and partnered with Slate and New Markets to consummate the acquisition. The interest in eCoast was derived from the attractive fundamentals of the company and its industry, including strong operating margins, recurring revenue streams, and a highly-fragmented marketplace. "We are delighted with our partnership with eCoast," said Erik Ginsberg, Managing Partner of Slate Capital Group. "We believe that eCoast is highly-differentiated from its competitors with its diverse service offering, blue chip customer base, and strong management team.”
"This transaction provides us with an opportunity to partner with a talented management team in an attractive industry and with a company that has built a first-class reputation over the last decade," said Robb Doub, General Partner at New Markets Venture Partners. "We believe there is ample opportunity to grow organically and through strategic acquisitions, and we look forward to working with the eCoast team."
eCoast is an outsourced sales and channel marketing agency focused on executing highly-customized programs that result in increased revenue and outreach for the high-technology industry. With proven methods of increasing pipeline revenue, shortening sales cycles, and building long-term relationships with diverse clients, eCoast has developed a solid reputation for success, and is the primary marketing firm for many leading technology manufacturers, partners, and value added resellers across North America. Additional information about the company can be found at www.ecoastsales.com.
About Slate Capital Group
Slate Capital Group is a leading private equity investment group based in Baltimore, Maryland that invests at all stages of a company’s life cycle, from growth equity investing to leveraged buyouts, and is focused on companies headquartered in the Mid-Atlantic region. The principals of Slate have significant experience in both running small-to-mid-sized companies and investing in venture capital and leveraged buyout transactions. Slate's primary areas of focus include business services, direct marketing, healthcare services, for-profit education, niche software and consumer and retail investments. Additional information can be found at www.slatecap.com.
About New Markets Venture Partners
New Markets Venture Partners is a leading venture capital firm that invests in and actively assists innovative information technology, education, and healthcare companies. The New Markets Team has decades of experience investing in and building high growth companies, and benefits from the wisdom, tenacity, and vision of founders of a highly successful public company and one of the U.S.'s premier venture firms. Additional information can be found at www.newmarketsvp.com.
For further information contact:
Slate Capital Group
New Markets Venture Partners
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