SportsMedia Technology Corp. will yield a minority stake to Vicente Capital Partners in exchange for $12.5 million in growth capital to boost R&D and push its products into new arenas.
The company produces graphics, statistics and video enhancement for sports broadcasts and is profitable, according to its founder and chief executive Gerard Hall.
Along with increasing its sales and marketing staff, the company will spend to boost its R&D segment and explore the direct delivery of sports information to consumer platforms including mobile devices. The company expects to grow its staff 20% in each of the next two years.
SportsMedia’s clients include ESPN/ABC, NBC, CBS, VERSUS, Turner Networks and TNT.
Jay Ferguson worked on the deal with Vicente Capital Partners. Robert J. Woolway, managing director of Trinity Capital, served as financial advisor to SportsMedia.
The private equity firm closed a $165 million growth equity fund in 2009, and invested in MedBridge Healthcare and US Dermatology Medical Management that year.
Other investments from the PE firm include Rayne Water Conditioning, Newbridge College; online security company Sendio; Rent.com, among other companies.
Investors with the PE firm include CalPERS, Fairview Capital, JPMorgan, LACERS, LA Fire and Police Pensions and other municipal pension funds.
The private equity firm has three managing partners, Jay Ferguson, Klaus Koch and Nicholas Memmo.
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