La Grange, IL and Los Angeles, CA – In its pursuit to build the leading healthcare-focused, fully integrated marketing services platform, Corridor Capital portfolio company Specialty Marketing & Communications Holdings, LLC (“Specialty Marketing,” the sole owner of SPM Marketing & Communications, LLC, “SPM”), has acquired the Web Services division of Centretek Solutions, LLC (“Centretek”). SPM formed a new subsidiary, Centretek Digital, LLC, to effectuate the acquisition. The combined services of SPM and Centretek will provide their clients a full range of creative and technology based digital services and expand the combined agency’s reach across the health sector.
Centretek was founded in 2006 and is based in Ellicott City, MD. Centretek is a leading provider of enterprise website development, digital marketing and related services to hospitals and healthcare systems throughout the United States. Centretek’s differentiated digital marketing and technical enterprise web development experience has allowed the company to provide high-touch and high-quality service to its customers. Centretek partners with many of healthcare’s most innovative and leading companies, including John Hopkins, Sentara, Rush, MU Health, as well as currently shared clients with SPM such as Froedtert and the Medical College of Wisconsin. Centretek’s executive management team will remain with the business and is excited for SPM’s and Corridor Capital’s strategic guidance to help to expand the company’s core service offerings and enter other complementary healthcare verticals.
A key element of Corridor’s original underwriting of the SPM investment was the need to build out digital marketing capabilities to complement SPM’s strength in traditional marketing services for the hospital and healthcare systems vertical. Corridor developed a digital strategy in partnership with SPM management which has resulted in organic initiatives including upgrading SPM’s programmatic buying capabilities and the introduction of a search engine marketing (“SEM”) team. Centretek provides SPM with increased digital service capabilities, access to new customers and an expanded geographic footprint.
Patti Winegar, SPM’s CEO, said, “We are extremely excited to further deliver on our clients’ goals as they address the changing needs of consumers and the consumer-brand experience. Centretek’s proven ability to solve complex digital and web challenges with strategic, efficient and effective digital content is a perfect complement to SPM’s strengths of award winning strategic branding and marketing.”
“The people, passion, and fit of our two agencies’ cultures will help raise the bar for our combined family of clients,” said Glen Doss, VP Business Development at Centretek. “In addition, SPM’s proprietary consumer insights & research, and in-house broadcast, digital search and programmatic media planning and buying will further add to our ability to deliver a fully-integrated solution to our current and future clients. This is a continued and planned evolution from which both our agencies’ clients will benefit almost immediately.”
SC&H Capital served as the exclusive financial advisor to Centretek Solutions, LLC. Nelson Mullins Riley & Scarborough LLP served as legal counsel to Centretek Solutions. Morgan, Lewis & Bockius LLP served as legal counsel to Corridor Capital and SPM.
