Sept. 8, 2016 4:25 p.m. ET.
CIP Capital said it invested in Affinitiv, a newly formed marketing technology company that provides services to auto manufacturers and dealers.
Chicago-based Affinitiv, which will act as a buy-and-build platform, was formed through the merger of four companies: auto marketing companies Dealer Product Services Inc., of Long Grove, Il.; Peak Performance Marketing Solutions, of Calabasas, Calif.; and Mason, Ohio-based OneCommand, as well as TimeHighway.com, a Naples, Fla., company that provides online scheduling services.
The investment in Affinitiv—which generates more than $100 million in annual revenue—marks CIP’s third investment this year, according to a news release. Financial terms of the deal weren’t disclosed.
The chief executives of the four combined companies joined the merged company in executive roles and are investors in the transaction, according to the release.
Mike Doobay was named CEO of the company, according to the release. Jeff Hart, former president and CEO of OneCommand, was named Affinitiv’s chief operating officer.
New York firm CIP invests $25 million to $100 million of equity for transactions of $50 million to $200 million in North American midmarket companies with annual revenue of $25 million to $125 million in the business-information, tech-enabled services, marketing services, and education and training services sectors.