Companies: Sverica Capital Management Launches Continuation Fund for Stream
Sverica Capital Management LP (“Sverica”), a private equity investment firm, has announced the successful closing of a continuation fund transaction for Stream Companies Holdings, LLC (“Stream”), a prominent provider of marketing software and services primarily catering to U.S. automotive dealers and original equipment manufacturers. This deal represents a significant milestone in Sverica’s ongoing partnership with Stream and highlights the firm’s continued dedication to supporting the company’s next stage of growth.
Sverica Capital Management LP (“Sverica”), a private equity investment firm, has announced the successful closing of a continuation fund transaction for Stream Companies Holdings, LLC (“Stream”), a prominent provider of marketing software and services, particularly for U.S. automotive dealers and original equipment manufacturers. This transaction highlights a pivotal moment in Sverica’s long-standing partnership with Stream Companies and demonstrates the firm’s unwavering commitment to supporting the company’s future growth trajectory.
As part of the continuation fund transaction, Sverica’s fourth flagship fund (“Fund IV”) provided existing investors with the opportunity to roll over their equity and continue participating as investors in the company’s next phase. The investment was spearheaded by RCP Advisors and Churchill Asset Management, with additional backing from a group of new investors, alongside reinvestment from Fund IV’s existing limited partners (LPs) and general partners (GP). Sverica’s fifth flagship fund also made a new investment in Stream. The Stream Co-Founders and management teams from both Stream and fullthrottle.ai, a key subsidiary of Stream, also retained substantial equity stakes.
Stream has significantly grown its revenue and EBITDA since Sverica made its initial investment in April 2019. Over the past few years, the company has strengthened its leadership position in the automotive sector by establishing new strategic partnerships, notably with original equipment manufacturers (OEMs). Under Sverica’s ownership, Stream has also expanded its footprint into new end-markets, enhancing its fullthrottle.ai SaaS platform through strategic reinvestments and product-led growth.
Jordan Richards, Managing Partner at Sverica, commented, “Stream’s customer-centric approach and commitment to providing the best service and outcomes for its clients has proven to be a winning combination over the company’s long history. It has been a pleasure partnering with David Regn and the talented team at Stream and fullthrottle.ai. We look forward to continuing our support as the company grows further. We are also excited about continuing to reinvest into fullthrottle.ai, which we believe has the potential to capture a significant share of the market in the coming years.”
David Regn, Co-Founder and CEO of Stream, expressed enthusiasm about the continued collaboration with Sverica, saying, “We are thrilled to continue our partnership with Sverica as Stream and fullthrottle.ai embark on the next phase of their journeys. Our collaboration has been a cornerstone of our success. As we move forward, we believe we are well-positioned to unlock the full growth potential of fullthrottle.ai, capture additional market share in the automotive sector, expand our non-automotive client base, and pursue strategic mergers and acquisitions (M&A) opportunities.”
Stream, headquartered in West Chester, PA, is a leader in data-driven retail marketing, with its fullthrottle.ai platform serving as a prominent ad tech operating system. The platform holds three distinct patents in first-party data collection, media activation and measurement, and safe data matching, making it a vital tool for agencies, brands, and media companies. Stream’s achievements have been recognized on numerous prestigious lists, including the Inc. 5000’s list of fastest-growing private companies 17 times, Best Places to Work in PA five times, and the Philadelphia100 list nine times. The company’s innovative approach and continuous growth have positioned it as a major player in the ad tech and automotive sectors.
The continuation fund transaction was also supported by Lazard, which acted as exclusive financial advisor to both Sverica and Stream. Choate Hall & Stewart LLP provided legal counsel to Sverica throughout the deal process.
Sverica Capital Management, which manages $2 billion in committed capital across six funds, is a leading private equity firm focused on growth-oriented investments. The firm has a reputation for acquiring, investing in, and building companies that show potential to become leaders in their respective industries. Sverica employs a “business builder” approach, working closely with its portfolio companies to develop and execute growth strategies, reinvesting resources to accelerate business expansion. By actively collaborating with management teams, Sverica aims to create long-term value for its investors while building strong, sustainable businesses.
Stream’s continued success under Sverica’s leadership underscores the potential for growth in the marketing and ad tech sectors. With a strong foundation built on innovation and customer-focused solutions, both Stream and Sverica are poised to lead the way as the company enters its next phase of growth. This partnership sets the stage for new opportunities in the automotive sector and beyond, with Stream ready to further disrupt the industry with its groundbreaking technology.
