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Morgan Stanley Capital Partners Completes Sale of 24 Seven to New Continuation Investment Vehicle
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Rhea-AI Summary
Morgan Stanley Capital Partners has announced the sale of 24 Seven, a leading provider of digital marketing and creative staffing solutions, to a GP-led continuation investment vehicle managed by its affiliate. The deal includes participation from other secondary investors, including Pantheon. Since MSCP's investment in 2016, 24 Seven has tripled its EBITDA through strategic growth initiatives. This represents MSCP's fourth investment in the human capital management sector, showcasing its commitment to driving growth and operational efficiency.
Positive
24 Seven has tripled its EBITDA since Morgan Stanley Capital Partners' investment in 2016.
The company is a leading provider in the fast-growing digital marketing and creative staffing sector.
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None.
NEW YORK--(BUSINESS WIRE)--
Investment funds managed by Morgan Stanley Capital Partners (“MSCP”) today announced the sale of 24 Seven (“24 Seven” or the “Company”) to a single asset GP-led continuation investment vehicle managed by an affiliate of MSCP. The continuation fund is led by Glendower Capital with participation from other secondary investors including Pantheon.
Headquartered in New York City, New York, 24 Seven is a leading provider of digital marketing and creative staffing solutions in the United States, Canada, and the UK. Since investing in 24 Seven in 2016, MSCP has partnered with management to transform the company into the preeminent digital marketing & creative talent provider in North America. Through initiatives focused on revenue growth, productivity improvements, new office openings, and the development of an in-house M&A function, 24 Seven has more than tripled EBITDA under MSCP’s stewardship.
“We are proud to have partnered with Anthony Donnarumma, Celeste Gudas and the 24 Seven team through this chapter, ultimately transforming 24 Seven into the industry leading provider of digital marketing and creative talent,” said Adam Shaw, Managing Director and Head of Business Services at MSCP. “24 Seven is a unique, high growth platform in the sector, and we have appreciated the opportunity to work with the entire 24 Seven team during this exciting period at the Company. We are grateful for their hard work and dedication over the past five years and look forward to being a value-added partner in the Company’s next chapter of growth.”
“Morgan Stanley has provided outstanding partnership over the past 5 years, helping us drive the business and ascend into an industry leading provider,” Anthony Donnarumma, Chief Executive Officer of 24 Seven, said. “MSCP has been a tremendous partner to the entire 24 Seven team, leveraging their deep human capital management expertise to continuously support our organic growth aspirations, operational initiatives, and develop our M&A capabilities. We thank them for their contributions to the business and are excited to continue providing exceptional service to our clients, employment opportunities to our candidates and career development opportunities for our employees going forward.”
24 Seven is MSCP’s fourth investment in the human capital management space, which has been a core sub-sector within MSCP’s broader business services effort.
Credit Suisse assisted with the private offering, and Debevoise & Plimpton served as legal advisor to MSCP.
About Morgan Stanley Capital Partners
Morgan Stanley Capital Partners, part of Morgan Stanley Investment Management, is a leading middle-market private equity platform that has invested capital in a broad spectrum of industries for over three decades. Morgan Stanley Capital Partners focuses on privately negotiated equity and equity-related investments primarily in North America and seeks to create value in portfolio companies primarily in a series of subsectors in the business services, consumer, healthcare, education and industrials markets with an emphasis on driving significant organic and acquisition growth through an operationally focused approach. For further information about Morgan Stanley Capital Partners, please visit www.morganstanley.com/im/capitalpartners.
Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 750 investment professionals around the world and $1.5 trillion in assets under management or supervision as of September 30, 2021. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im.
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 41 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions, and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.
What is the recent transaction involving Morgan Stanley (MS) and 24 Seven?
Morgan Stanley Capital Partners has sold 24 Seven to a GP-led continuation investment vehicle managed by its affiliate, with participation from investors including Pantheon.
What growth has 24 Seven achieved under Morgan Stanley's management?
Under Morgan Stanley Capital Partners' management, 24 Seven has more than tripled its EBITDA since their investment in 2016.
Who are the key investors involved in the 24 Seven sale?
The sale involves a GP-led continuation investment vehicle managed by Glendower Capital, along with participation from secondary investors including Pantheon.
How has 24 Seven transformed since 2016?
Since 2016, 24 Seven has become a leading provider of digital marketing and creative staffing solutions, enhancing its growth and operational capabilities.
