December 13, 2022
The three agencies have agreed to a merger backed by Gemspring Capital Management. The deal closed on Nov. 15, creating a combined agency that its leaders describe as one of the largest partners in the U.S. Amplix CEO and former ROI Communications CEO Joe DeStefano tells Channel Futures that the firm will corner the New England market as it cross-sells into its existing customer bases and expands into new accounts across the country.
ROI’s Joe DeStefano
“Being able to cross-sell to those organizations is extremely important, extremely valuable to our financial partner and extremely valuable to our customers,” DeStefano told Channel Futures. “And having subject-matter expertise in different technology silos that we all have independently and using best practices for those customers is going to be invaluable.”
Blue Front CEO Dan Passacantilli will work as chief strategy officer for Amplix, and allConnex managing partners Steve King and Jamie Kuzman will serve as chief development officer and chief administrative officer, respectively. ROI president Dan Gill will work as president.
Gemspring purchased a majority interest in the company. The Connecticut-based midmarket private equity firm targets companies of $10 million-$500 million in annual revenue.
Bank Street Group financially advised them on the deal, while Nixon Peabody provided legal advisement. Kirkland & Ellis served as Gemspring’s legal advisors.
DeStefano spoke to Channel Futures about why Amplix’s foundation differs significantly from other partners mergers and acquisitions.
Scroll through the 12 images above to hear his perspective as well as details about the combined company.
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