By Kevin McCauley
MDC Partners is paying $27M to private equity firm Newport Partners to acquire a majority stake in Capital C Communications, a digital ad firm, and Kenna data analytics shop.
Headed by Tony Chapman, Capital C is a major force in the social media arena doing work for clients such as Nissan, Maple Leaf Foods, PepsiCo, S.C. Johnson, McCain Foods, Unilever and Sun Life Assurance Co. of Canada. The Toronto-based shop has more than 100 staffers.
MDC CEO Miles Nadal says he had ironed out a long-term equity partnership with Capital C’s management.
Headquartered in Mississauga, Ontario, Kenna’s 140 employees offer a range of analytics and performance marketing services to companies such as Wrigley, BASF, Nissan CIBA Vision and MBNA.
CEO Glenn Chilton says Kenna benefits as marketing shifts from “episodic communications to continuous customer interaction and experience management.” He and COO Paul Quigley have entered a long-term agreement with MDC.
NASDAQ-listed MDC, which owns PR firms like Allison & Partners and Kwittken & Co., is trading at $15.44, just below its $15.50 52-year high. Its low was $8.23.
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