Pamlico Capital Announces Recapitalization of PrizeLogic

Pamlico Capital (“Pamlico”) and the management team of PrizeLogic LLC (“PrizeLogic” or the “Company”) announced today that Pamlico has completed a recapitalization of the Company. CEO Keith Simmons, CTO Tim Welch, and CFO Jeff Blackman along with other management team members, will maintain significant ownership in PrizeLogic and will continue to manage the growth of the Company with support from Pamlico. Further transaction details have not been disclosed.

Headquartered in Southfield, Michigan and founded in 2008, PrizeLogic develops and executes digital promotions for large consumer brands and retailers. The Company offers an integrated software, legal and administrative solution that enables brands to engage consumers while ensuring data security and compliance. The Company has executed over 5,000 promotions since inception. Mr. Simmons noted, “Our team is proud of the success we have achieved to date and is excited about accelerating our next phase of growth with Pamlico. We chose Pamlico because of their successful history of partnering with founder-owned businesses, experience within the marketing services sector, and proven track record enhancing growth at portfolio companies.”

Pamlico Partner Eric Wilkins said, “Pamlico has had prior success in digital marketing services and was seeking another opportunity in the space. PrizeLogic really stood out for us due to their experienced sales team and a highly‑scalable technology platform.” Pamlico Vice President Jay Henry added, “PrizeLogic represents a leading platform in their core market with several organic and inorganic expansion opportunities. Their customers praise PrizeLogic’s execution, and their mobile technology capabilities provide relevant consumer data for the leading brands they serve.” PrizeLogic is the tenth investment in Pamlico Capital III, a fund with $650 million of committed capital.

With a team of more than 175 professionals and having achieved another year of double digit revenue growth in 2015, PrizeLogic has received multiple industry accolades. The Company has been recognized on the Inc. 5000 list four years in a row, as one of Chief!Marketer’s “Promo Top Shops,” and as one of the Crain’s Detroit Top 200 largest private companies. PrizeLogic has partnered with some of the most recognized Fortune 100 brands in the world including Pepsi, MillerCoors, Subway and Disney to ideate and execute promotions engaging consumers beyond the prize.

PrizeLogic was represented by JEGI, a New York City based investment bank that specializes in the media, marketing, software and tech-enabled services sectors, and Cozen O Connor P.C (legal advisor). Pamlico was advised by Alston & Bird LLP (legal advisor).