Marketing and Information Services
Capital Raise
January 2009
Situation:
Manifest Digital was a growing digital agency and its owners sought to sell all or a portion of the business in Q3
2008
In the fall of 2008 the U.S. underwent a large economic correction and the M&A process did not yield attractive
alternatives
Process:
Typical of our process, we ran a multi-prong process which included private-equity firms, strategic buyers and growth/mezzanine
capital providers
Result:
Although the M&A process did not yield target results due to the economic crisis we were able to raise $9 million
in debt capital
The owners were able to achieve partial liquidity, fund growth and execute an acquisition without having to give up
substantial equity in the company
The CHILDS Difference:
Our entrepreneurial mindset allowed the principals to achieve a successful outcome although market conditions were
not favorable. We continue to advise the company on strategy and growth
Our rigorous process explores all financing angles to allow our clients to fully assess their objectives. Internally,
we have experts in both private-equity coverage and senior and subordinated debt lender coverage to advise
our clients on a multitude of financing structures
