January 2021


Transaction Background
Metric Theory is a leading independent performance digital marketing agency serving B2B, eCommerce, and B2C clients with business-critical performance marketing needs across high-growth industry verticals.  Leveraging proprietry workflow and analytics technology, Metric Theory designs and manages full-funnel performance marketing programs focused on customer journey, customer acquisition, conversion rate optimization and profitable revenue growth. The company has offices in San Francisco, Denver, and New York and employes over 140 professionals.

S4 Capital plc is a digital advertising and marketing services group. Its strategy is to build a purely digital advertising and marketing services business for global, multinational, regional, local clients and millennial-driven influencer brands. S4’s emphasis is on “faster, better, cheaper” executions in an always-on consumer-led environment, with a unitary ownership and operating structure.

Metric Theory’s proven capabilities in driving growth for clients through integrated performance marketing strategies in search, social, programmatic, mobile app, digital video, and emerging digital ad platforms adds a formidable bench of talent to S4Capital’s entire end-to-end digital proposition for enterprise marketers and CMOs.

Our Role
JEGI | CLARITY acted as sole corporate finance advisor to the shareholders of Metric Theory in their transaction with S4 Capital.

This transaction caps a long-standing consultative relationship with the founder/owners of Metric Theory. Prior to formally going to market we helped prepare and position the business for its next stage of growth. We were responsible for managing a highly competitive process which included identifying and engaging with multiple prospective partners, both private equity and trade. We led negotiations on pricing and deal structure as well as being responsible for the overall planning and orchestration of the transaction process.

Ultimately, we played a critical role in achieving an outstanding result for the Metric Theory team which delivered both a very strong valuation as well as providing a partner that shared the same principles and growth ambitions.