CEO Wayne Mincey and president Paul Salay will remain in their respective roles. Terms of the transaction were not disclosed.
Market Track provides subscription-based, data driven promotional intelligence that enable retailers, manufacturers and brokers to analyze their promotional and pricing initiatives.
Josh Klinefelter, partner at Aurora, said, “We have been extremely impressed with Market Track’s performance over the last several years, including contract value retention rates that have averaged close to 100% and substantial organic growth through the consistent addition of new blue-chip customers.
“Additionally, our independent due diligence revealed Net Promoter Scores for Market Track that were at the very top of the market research industry and rivaled some of the best companies in the world.
“We have the utmost confidence in Market Track’s management team and look forward to supporting them with the financial, strategic and operational resources we make available to our partners.”
Market Track CEO Mincey added, “The capital provided by Aurora will allow Market Track to continue to make investments in industry-leading innovations.
“It will provide us with an opportunity to continue to expand our in-depth coverage across all digital media sources; develop advanced client-focused solutions, such as industry scorecards; and execute on capability-expanding acquisitions.”
Barclays Private Credit Partners led the debt financing while other current capital partners, Northwestern Mutual Capital and Golub Capital, will continue to play “significant roles” in support of Market Track, they said.
Charlie Yoon of MCP, which sold its majority stake to Aurora said, “The entire Market Track organization has done a fabulous job building this business over the past four years by bringing innovation and thought leadership to this industry.
“We appreciate their efforts in providing a good return for our investors and we wish them the very best in the future.”
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