Downtown-based MediaAlpha has received an undisclosed amount of credit to help accelerate the marketing technology company’s growth plans.
In February, privately held MediaAlpha, which has built a proprietary exchange to facilitate transactions between advertisers and publishers, disclosed that it was valued at $350 million as part of a recapitalization of the business.
Chicago-based Monroe Capital, a private credit asset management firm, acted as the administrative agent on the credit line, in conjunction with an investment made by Walnut Creek, Calif.-based private equity firm Insignia Capital Group.
Terms of the financial agreement were not disclosed.
Bermuda-based White Mountains Insurance Group, parent of MediaAlpha, remains a significant equity holder in MediaAlpha going forward with a 42 percent ownership interest.
Finance reporter Pat Maio can be reached at email@example.com or (323) 556-8329.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Silicon Beach Report April 3: New President at Omaze
- Santa Monica-Based Clearlake Capital Backs Perforce’s Buy of Rogue Wave
- Century City-Based Gallant Capital Invests in Quality Built
- Private Equity Firms Platinum, Gores Group, Sell Data Blue to Court Square Capital Partners
- MedMen Gets $30 Million Bump to Credit Line, Plans More Store Openings
- Private Equity Firms Ares, Crescent Buy Savers Thrift-Store Chain
- Ares, Crescent Take Over US Thrift Store Chain
- London Firm Takes Majority Stake in Fashion Company Reformation