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eCoast Seizes Growth Potential with New Management
eCoast, acquired by new Co-CEOs, Slate Capital and New Markets Venture Partners, is confident about the company’s future
December 3 , 2009 -- Rochester, NH - eCoast Sales Solutions, an industry leading provider of outsourced marketing and sales productivity solutions to the technology industry, was recently acquired in a deal lead by new co-CEOs Allen Tait and Chris Montgomery with funding by equity partners New Markets Venture Partners and Slate Capital.
eCoast was founded by former CEO Bill Gibney and four additional employees in 2000. Over the last nine years, the company has grown to house 150 full-time employees and repeatedly earn a spot in the Inc. 5000 list of America’s fastest growing companies.
Business partners for over 13 years, Tait and Montgomery were introduced to eCoast in early 2009, while seeking to purchase and operate a company with a stellar reputation, a steady growth in revenue, and a market leading core business. After finalizing an agreement with the former owners, the two introduced the opportunity to equity investors Slate Capital Group, a private equity firm based in Baltimore, Maryland, and New Markets Venture Partners, a venture capital firm based in College Park, Maryland,
"We are excited about our partnership with Slate and New Markets and the growth potential that is ahead of us," said Tait, co-CEO of eCoast, who oversees finance and operations at eCoast. He also added that "there is increasing demand for the outsourced marketing and lead generation services eCoast provides, and the Company has continued to expand its suite of offerings to stay ahead of the curve with cutting edge marketing programs for our clients."
Chris Montgomery, co-CEO of eCoast and the overseer of all marketing and sales efforts, is quick to point out that the acquisition is an opportunity for eCoast to expand its leadership in the industry with an expanded strategic vision. "Slate Capital and New Markets are important partners who bring resources and expertise that will greatly enhance our reach and help grow our business," he said. "It is also personally rewarding to be part of an enterprise which is expanding during these tough economic times and offering real job growth in the Seacoast region.
"Will Gibney, Vice President of Sales and Marketing at eCoast is also pleased with the new management. "We have two powerful economic partners backing us, supporting the expansion of our business. Coupled with Chris and Allen’s backgrounds of success, I see limitless potential for us into the future." Gibney also noted that eCoast continues to develop marquee relationships since the October purchase. "In particular we are very excited about our recent partnership with Microsoft® to offer a new suite of Ready-to-Go Marketing packages to their partners, and we are already seeing tremendous interest in these services."
New Markets Venture Partners believes the acquisition will have a very positive impact on both parties. "This transaction provides us with an opportunity to partner with a talented management team in an attractive industry and with a company that has built a first-class reputation over the last decade," said Robb Doub, General Partner at New Markets Venture Partners. Erik Ginsberg, Managing Partner of Slate Capital Group, agrees. "We believe that eCoast is highly-differentiated from its competitors with its diverse service offering, blue chip customer base, and strong management team," he said.
eCoast is looking forward to 2010 and the new opportunities that will arise as a result of the recent acquisition.
About eCoast
eCoast is an outsourced sales and channel marketing company focused on creating and executing customized programs that result in a measurable ROI for high technology clients. eCoast’s service offerings include appointment setting, marketing outsourcing, channel sales, and inbound marketing.
About Slate Capital Group
Slate Capital Group is a leading private equity investment group based in Baltimore, Maryland that invests at all stages of a company’s life cycle, from growth equity investing to leveraged buyouts, and is focused on companies headquartered in the Mid-Atlantic region. The principals of Slate have significant experience in both running small-to-mid-sized companies and investing in venture capital and leveraged buyout transactions. Slate’s primary areas of focus include business services, direct marketing, healthcare services, for-profit education, niche software and consumer and retail investments. Additional information can be found at www.slatecap.com.
About New Markets Venture Partners
New Markets Venture Partners is a leading venture capital firm that invests in and actively assists innovative information technology, education, and healthcare companies. The New Markets Team has decades of experience investing in and building high growth companies, and benefits from the wisdom, tenacity, and vision of founders of a highly successful public company and one of the U.S.’s premier venture firms. Additional information can be found at www.newmarketsvp.com.
Media Contact:
Erika Lehman
603.994.4083
elehman@ecoastsales.com
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