Private equity firm, Advent Partners is joining an industry leading provider of digital signage solutions, Mandoe Media and the company's founder, Steve Baxter with a significant investment.
Touted as Australia’s fastest growing interactive digital technology provider, the Melbourne-based media company provides clients with highly customizable and intelligent digital signage. The company’s cloud-based platform is used by some of Australia’s largest retailers and chain restaurants. Boasting clients including McDonald's, Domino's as well as fashion retailers and department stores, Advent Partners investment comes as the company experiences massive growth.
The global digital signage market, which spans everything from order screens at fast-food restaurants to outdoor advertising billboards, and digital signs at gas stations is projected to explode. While it was estimated at $18.55bn in 2018 it’s anticipated to rise to $31.71bn by 2025.
It isn't just big corporations that are cashing in, but college campuses and airports are also replacing standard video walls in favor for digital signage that implements artificial intelligence, cloud-based networks, and customer interaction.
With stakes in over 90 companies, this is an unconventional investment for Advent Partners who count Compass Education, SILK Laser clinics, and TRIBE Breweries as part of their portfolio.
While it’s been reported that Advent is in the late stages of signing off on the deal, there are no details on how much they’re paying for their stake. Although, if their past investments are anything to go by it could be in the range of $50 million. This will be the Advent Partners 2 Fund third purchase.
Sources revealed that this deal is being led by Brad Lynch, Mark Jago, and Melissa Lok who were instrumental in the SILK and Compass deals. Jago is currently a director of Tribe Breweries and Wellness Lifestyles, his past investment experiences include Gourmet Garden, JAG, Integral Diagnostics, and GenesisCare. Lynch is currently a director of SILK Lader, Junior Adventures Group, Wellness and Lifestyles, as well as Trivantage. While Lok is an Investment Manager at the PE firm.
Advent’s hefty injection is set to not only grow Mandoe’s business but also their potential reach into various industries.