Clarion Capital Partners Makes Strategic Investment in Ad.net

July 20, 2021

Clarion Capital Partners completed a strategic growth investment in Ad.net, a Los Angeles-based provider of digital performance advertising. Financing for the transaction included unitranche and other debt from PennantPark Investment Advisers, Stellus Capital Management and Five Points Capital (which also made an equity co-investment); Ad.net's CEO and founder Jon Waterman retained a significant ownership stake and will remain CEO.

Buyers
Clarion Capital Partners, Five Points Capital, PennantPark Investment Advisers, Stellus Capital Management
Targets
Ad.net, Inc.
Location
California, United States
Transaction Type
Growth capital

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