Catapult Capital Announces Acquisition of JibJab
LOS ANGELES, February 12, 2019 (Newswire.com) - Catapult Capital LLC announced today the acquisition of Los Angeles-based JibJab, a leading independent provider of social expression content through branded satires, eCards, and messages. JibJab’s products enable millions of people to create and share personalized videos to celebrate holidays, capture moments, or just share hilarious greetings. Financial terms were not disclosed.
JibJab COO Paul Hanges has been promoted to CEO after the acquisition and will lead the company under its new ownership. “From our political parodies in the early days to our more recent personalized expression content, JibJab’s bread and butter has always been creating high-quality content and products with the goal of making billions of people happy,” said Mr. Hanges. “With Catapult Capital and the investor group’s support, we’ll be able to make additional investments in product, new markets, and technology, and help more people create and share our best content. We’re eager for the opportunities ahead of us.“
“JibJab has created a successful business through a combination of product innovation, premium content, and entrepreneurial spirit,” said Gary Hsueh, Founding Partner of Catapult Capital. “With the addition of our product, operational, and distribution resources to support the company’s evolution, we intend to accelerate JibJab’s new growth phase. We look forward to working with Paul, our co-investors, and the JibJab team to continue growing the business and expanding into new markets and formats.”
For more information about JibJab, please visit: https://www.jibjab.com/
Reed Smith LLP served as Catapult Capital’s legal counsel on the acquisition of JibJab. St. Cloud Capital, a Los Angeles, CA-based private investment firm that provides growth capital to the lower middle market, provided a portion of the financing.
About Catapult Capital
Catapult Capital is a San Francisco, CA-based private equity firm that focuses on investment opportunities in the lower middle market throughout the United States and Europe. Catapult specializes in “special situation” acquisitions, acquiring companies through corporate carve-outs or unique circumstances, in the internet, consumer, advertising, media, and software industries. Catapult’s investment structure includes buyouts, control investments, and select minority investments. Catapult’s model involves taking an active role with the company and partnering with strong management teams. For more information about Catapult Capital, please visit http://www.catapultcap.com
Source: Catapult Capital