Boathouse is Pleased to Partner with IMPLAN Group in its acquisition of MIG
July 16, 2013
Boathouse Capital (“Boathouse”) is pleased to partner with IMPLAN Group LLC (“IMPLAN Group”) in its acquisition of MIG, Inc. (“MIG” or the “Company”) on June 21, 2013.
Boathouse’s senior subordinated debt 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). As part of the transaction, IMPLAN Group has relocated the Company’s headquarters to Davidson, NC.
The Boathouse investment will also help to fund the hiring of new key employees, the deployment of a Software-as-a-Service (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.
IMPLAN is the market leading provider of economic data for use in economic impact studies including those used for public policy and corporate decision making. 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. IMPLAN is the only database that covers over 400 industries with 130 unique variables in every US county and zip code.
Charlie Rice, CEO of IMPLAN Group, said “We are thrilled to have found the right acquisition partner in Boathouse Capital. They understood our vision for IMPLAN from the first conversation and were supportive and collaborative throughout the entire process. We look forward to building the company and the relationship with Bill Dyer and the entire Boathouse team. Given the insatiable desire for data in today’s market and the depth of our proprietary database we are incredibly excited about the future of IMPLAN.”
Bill Dyer, Partner at Boathouse Capital, added “MIG founders Scott Lindall and Doug Olson have done a tremendous job creating their own niche market within the big data sector, and we are highly confident that with the help of new CEO Charlie Rice and his team, we will be able to increase the Company’s market presence and broaden its service offering. We are excited to support the initiatives Mr. Rice already has in place for the next phase of IMPLAN’s growth.”
As part of the investment, Bill Dyer will join the IMPLAN Group Board of Directors.