IMPLAN Group has been recapitalized by Boathouse Capital
7 Mile Advisors Acted As Financial Advisor To IMPLAN Group In Its Recapitalization With Boathouse Capital
7 Mile Advisors acted as financial advisor to IMPLAN Group LLC (“IMPLAN Group” or “Company”) on its debt and equity investment from Boathouse Capital (“Boathouse”). The transaction allowed the Company to complete its acquisition of MIG, Inc. and fund future growth initiatives.
MIG, Inc. is the market leading provider of economic data for use in economic impact studies including those used for public policy and corporate decision making. MIG’s flagship product, IMPLAN, was created from a model developed over thirty years ago and spun out to MIG, Inc. in 1999. IMPLAN provides detailed economic activity data for use in regional, state and federal government economic incentive decisions, government agency policy making, investment decision making, corporate relocation analysis and raising consumer and citizen awareness.
Boathouse’s investment allowed several existing members of MIG’s senior management to participate along with new management in capitalizing the Company and acquiring MIG from its founders in a management-led leveraged buyout (MBO). The Boathouse investment will also fund the hiring of new key employees, the deployment of a SaaS technology solution, the development of a new suite of commercialized Business Intelligence products, and a variety of new sales and marketing initiatives designed to accelerate growth.
7 Mile Advisors led the Company through the evaluation of multiple potential investment partners, then assisted IMPLAN Group’s management in structuring and negotiating the investment with Boathouse.
Eric Dana, CFO of IMPLAN Group, said “The 7 Mile team delivered exceptional leadership and guidance throughout the entire transaction, directing us toward an optimal strategic partner and deal structure. They quickly understood our needs, the market space, and the sponsors’ requirements resulting in a very effective and efficient process. Quite simply, the 7 Mile team became trusted partners for our transaction, and will be our partners in the future.”
About MIG, Inc.
MIG, Inc. is the sole-source provider of the IMPLAN® (IMpact analysis for PLANning) economic impact modeling system. IMPLAN is used to create complete, extremely detailed multi-regional Social Accounting Matrices (SAMs) and Multiplier Models of economies ranging from national to state, county or ZIP-Code levels. MIG, Inc. provides software tools, region-specific data, and outstanding technical support to enable users to make in-depth examinations of state, multi-county, county, sub-county, and metropolitan regional economies. MIG, Inc. has been developing complex localized databases, conducting IMPLAN training workshops and distributing IMPLAN software to public and private organizations since 1999. For more information, visit www.implan.com.
Boathouse Capital is a $120 million private equity firm that invests mezzanine debt and equity into lower middle market businesses across the U.S. Based in Wayne, PA, Boathouse Capital invests $3 million to $12 million to support companies in a variety of industries generating EBITDA of $2 million or greater. http://www.boathousecapital.com/.
About 7 Mile Advisors
7 Mile Advisors provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. We advise on M&A and private capital transactions, and provide market assessments and benchmarking. As a close knit team with a long history together and a laser focus on our target markets, we help our clients sell their companies, raise capital, grow through acquisitions, and evaluate new markets.
All securities transactions are executed by 7M Securities, LLC, member FINRA / SIPC
For more information, including research on the M&A markets, visit www.7mileadvisors.com