Marketing agency Ansira Partners, backed by Advent International, acquired digital advertising firm Local Biz Now (LBN). Digital ad providers have been consolidating as companies look to increase their awareness across the Web and mobile devices.
Local Biz, based in Auburn Hills, Michigan, uses data to help businesses with local marketing. The target has previously with Chrysler and Volkswagen. Ansira, headquartered in St. Louis, assists companies with data analytics, website development, social media strategy and SEO placement. Some of the company's past clients include Cisco Systems Inc. (Nasdaq: CSCO), Ford Motor Co. (NYSE: F) and the Wendy's Co. (Nasdaq: WEN).
"LBN is an excellent addition to Ansira and nicely complements our strategy of helping brands optimize marketing from a national to a local level," says Ansira chairman James Warner. "LBN is one of many acquisitions we anticipate over the next few years as we plan to strategically grow the business.
Advent, founded in 1984, is a global private equity firm headquartered in Boston. The firm has approximately $40 billion in assets under management and has invested completed more than 315 private equity transactions. The firm targets its investments in five core industries, including: business services, healthcare, industrial, consumer products, financial services and technology, media and telecom. Advent recently acquired a majority stake in breakfast chain First Watch Restaurants.
Spending on digital advertising continues to rise, mainly because Americans love their screens. In other recent deals, Advantage Solutions acquired Brand Connections; Bain Capital Private Equity purchased a majority stake in Daymon Worldwide; GTCR agreed to purchase a majority stake in digital advertiser Simpli.fi; and In 2016, Trans World Entertainment Corp. (Nasdaq: TWMC) bought Etailz.