Purple Strategies Completes Growth Recapitalization with WestView Capital Partners
August 25th, 2022
Alexandria, Virginia and Boston, Massachusetts
– Purple Strategies, LLC (“Purple” or the “Company”), a leading corporate reputation strategy firm, has completed a growth recapitalization with WestView Capital Partners (“WestView”), a Boston-based private equity firm focused exclusively on middle market growth companies. Purple provides business transformation, change management, executive positioning, crisis and issue management, and strategic communications advisory services for Fortune 500 companies.
Headquartered in Alexandria, Virginia, with an additional office in Chicago, Illinois, Purple brings full-service research and insights capabilities along with political and campaign strategy and execution to address their clients’ most important reputational and strategic issues. Over the past 14 years, the Purple team has successfully combined the perspectives of the “red” and “blue” sides of the political aisle as well as political, brand and reputation strategies to deliver a uniquely Purple approach, helping companies across a variety of industries including life sciences, technology, energy, food and beverage, industrial, defense, and communications, navigate and prepare for future challenges.
“We have enjoyed getting to know the WestView team and seeing their partnership approach in action,” said Steve McMahon, Co-Founder and CEO of Purple. “We are beyond excited about the next chapter at Purple, and believe onboarding a partner with such deep experience as investors in people-based consultancies will help us navigate our rapid growth ahead. We will remain strongly positioned to help clients address growing pressures and meet the moment while also preserving our culture and creating more opportunities for our world-class Purple team members.”
Purple’s leadership team will remain in place, with Steve McMahon continuing as CEO and Kristen Morgante as Managing Partner. All other partners, including Co-Founder and Chairman Alex Castellanos, will also continue in current roles.
“We are thrilled to partner with Steve, Kristen, Alex, and the rest of the Purple team,” said Jonathan Hunnicutt, General Partner at WestView who will join Purple’s board of directors. “We seek to invest in pioneering companies and Purple has demonstrated that it is in a category of one with its differentiated strategy, capabilities and approach in the market,” noted Hunnicutt.
“Purple is a truly unique company, presenting clients with both ‘red’ and ‘blue’ perspectives to help address all stakeholders,” added Jeff Clark, a Principal at WestView who will also join the Company’s board. “The current political environment has created a rapidly growing set of constant challenges for C-suite executives of large companies. The need for Purple in this moment is greater than ever.”
Purple was represented by GP Bullhound and Blank Rome. WestView was represented by Latham & Watkins with debt financing provided by First Eagle.
About Purple Strategies:
Purple Strategies is a fast-growing, fully integrated corporate reputation strategy firm, inspired by politics, driven by data and insights, partnering with Fortune 500 companies and the most recognizable brands in the world to anticipate, navigate, and compel change. Founded more than a dozen years ago with the joining together of two political firms that were asked regularly to partner to bring a mix of “red” and “blue” perspectives to corporate challenges, Purple has continued to evolve, bringing in diverse perspectives across a multitude of disciplines to help the world’s most important organizations address their toughest challenges. Learn more at www.purplestrategies.com.
About WestView Capital Partners:
WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies, manages approximately $1.7 billion in capital across four funds. WestView partners with existing management teams to sponsor minority and majority recapitalizations, growth, and consolidation transactions in industries such as software and IT services, healthcare technology and outsourcing, business services, consumer, and growth industrial. WestView focuses on investing in companies with revenue of at least $10 million and operating profits between $3 and $25 million. For more information, please visit www.wvcapital.com.