MediaAlpha

Company Valued at Approximately $350 Million

CG Petsky Prunier is pleased to announce it has advised MediaAlpha, a pioneer in programmatic advertising platforms for native search and metasearch media, on its significant minority investment from Insignia Capital Group, a San Francisco Bay Area private equity firm focused on high-growth, middle-market companies, in connection with a recapitalization transaction that values the company at approximately $350 million. White Mountains Insurance Group, Ltd. (NYSE: WTM) will remain a significant equity holder in MediaAlpha going forward with a 42% ownership interest on a fully-diluted basis. Petsky Prunier also advised MediaAlpha on its previous investment from White Mountains in 2014. Additional debt financing was raised from Monroe Capital in support of the transaction.

MediaAlpha is a marketing technology company. It operates transparent and efficient exchange platforms that facilitate real-time transactions between advertisers and publishers of performance media (i.e., clicks, calls, and leads). MediaAlpha has developed distinctive platform solutions for a range of insurance verticals, including auto, motorcycle, home, renter, health, and life, and non-insurance verticals, including travel, education, personal finance, and home services. MediaAlpha powers more than 200 million transactions annually, representing in excess of $400 million in aggregate media spend.

The investment is a significant milestone for MediaAlpha and will help accelerate the company’s growth plans. There will be no changes to MediaAlpha’s founding management team, and the company will continue to be led by Steve Yi, co-founder and CEO.

Insignia Capital Group is a San Francisco Bay Area private equity firm focused on high-growth, middle-market companies. Insignia partners with company founders and management teams to help drive growth and achieve true business potential. The firm’s principals have significant experience building businesses across a range of industries, including consumer, business services, and healthcare.

CG Petsky Prunier, with a team led by Sanjay Chadda, Lexia Schwartz, and Marc Flor, served as the exclusive financial advisor to MediaAlpha and White Mountains Insurance Group.