MSCP Sale of 24 Seven to New Continuation Investment Vehicle



Investment funds managed by Morgan Stanley Capital Partners (“MSCP”) today announced the sale of 24 Seven (“24 Seven” or the “Company”) to a single GP-led continuation investment vehicle and managed by a subsidiary of MSCP. The continuation fund is led by Glendower Capital with participation from other secondary investors, including Pantheon.

Based in New York, New York, 24 Seven is a leading provider of digital marketing and creative recruiting solutions in the United States, Canada and the United Kingdom. Since investing in 24 Seven in 2016, MSCP has partnered with management to transform the company into the leading provider of digital marketing and creative talent in North America. Through initiatives focused on revenue growth, improving productivity, opening new offices and developing an in-house M&A function, 24 Seven more than tripled its EBITDA under the leadership of MSCP.

“We are proud to have partnered with Anthony Donnarumma, Celeste Gudas and the 24 Seven team through this chapter, ultimately transforming 24 Seven into the leading provider of digital marketing and creative talent,” said Adam Shaw, Managing Director and Head of Commercial Services. at MSCP. “24 Seven is a unique, high growth platform in the industry, and we have appreciated the opportunity to work with the entire 24 Seven team during this exciting time with the company. We are grateful for their hard work and dedication over the past five years and look forward to being a value-added partner in the next chapter of the company’s growth.

“Morgan Stanley has provided an exceptional partnership over the past 5 years, helping us drive the business and become an industry leading supplier,” said Anthony Donnarumma, CEO of 24 Seven. “MSCP has been a tremendous partner to the entire 24 Seven team, leveraging its deep expertise in human capital management to continuously support our organic growth aspirations, operational initiatives and develop our M&A capabilities. We thank them for their contribution to the company and look forward to continuing to provide exceptional service to our clients, employment opportunities to our candidates, and career development opportunities for our employees in the future.

24 Seven is MSCP’s fourth investment in human capital management, which has been a central sub-sector within MSCP’s broader business services effort.

Credit Suisse participated in the private offer and Debevoise & Plimpton acted as legal counsel to MSCP.

About Morgan Stanley Capital Partners

Morgan Stanley Capital Partners, part of Morgan Stanley Investment Management, is a leading mid-market private equity platform that has been investing capital across a wide range of industries for more than three decades. Morgan Stanley Capital Partners focuses on equity investments and privately traded equity related investments primarily in North America and seeks to create value in portfolio companies primarily across a range of sub-sectors of the corporate services markets. business, consumer, healthcare, education and industry with a focus on driving meaningful organic and acquisition growth through an operations-centric approach. For more information on Morgan Stanley Capital Partners, please visit www.morganstanley.com/im/capitalpartners.

Morgan Stanley Investment Management

Morgan Stanley Investment Management, along with its affiliated investment advisory firms, had more than 750 investment professionals worldwide and $ 1.5 trillion in assets under management or supervision as of September 30, 2021. Morgan Stanley Investment Management s’ strives to provide exceptional long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse clientele, which includes governments, institutions, businesses and individuals worldwide. For more information on Morgan Stanley Investment Management, please visit www.morganstanley.com/im.

About Morgan Stanley

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 41 countries, the firm’s employees serve clients around the world, including businesses, governments, institutions and individuals. For more information on Morgan Stanley, please visit www.morganstanley.com.

Contact for media inquiries: Lauren Bellmare, [email protected]


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