Latest news from Lee Equity Partners and our portfolio companies

August 09, 2023

Lee Equity Exits Cadent, LLC

New York, NY – August 9, 2023 – Funds managed by Lee Equity Partners, LLC (“Lee Equity”), a growth oriented middle market private equity firm, today announced the sale of Cadent, LLC (“Cadent” or the “Company”) a leading provider of platform-based converged TV advertising solutions.

Lee Equity acquired Cadent in July 2013. Since that time, Cadent has transformed from an early leader in cable and broadcast aggregation to one of the largest independent platforms for unified audience targeting across connected television (CTV), traditional TV, and digital advertising. Lee Equity and the Company worked closely on operational and growth initiatives including the completion of four highly complementary acquisitions since initial investment.

The management team has distinguished the Company as a market-leading advanced TV platform provider which simplifies data-driven brand advertising by bringing together audiences and data. The Company’s value proposition continues to be recognized by advertisers for which Cadent effectively delivers targeted messaging to their most valuable audiences on any TV inventory type, and by publishers for aggregating individual device and supply footprints to create a unified audience across all services.

“Lee Equity has been a true partner as we have transformed Cadent. Their operational expertise, financial resources, and strategic understanding of our business augmented our management team’s approach to building a unique platform for the future of converged TV. We thank Barry and the entire Lee Equity team for their dedicated, steadfast support of our vision, and for helping us achieve this successful outcome for their shareholders and partners,” said Nick Troiano, CEO of Cadent.

“We are very proud of our partnership with Cadent and would like to thank Nick and the broader management team for transforming the business into a converted TV advertising leader,” said Barry Baker, Chairman of Cadent and Senior Advisor at Lee Equity.

Evercore served as the lead financial advisor, Stifel served as co-advisor, and Weil, Gotshal & Manges LLP served as the legal advisor for the Company and Lee Equity Partners. Company management were advised by the law firm Kelley, Drye and Warren, and management advisory firm Jamieson.

About Cadent

Cadent connects the TV advertising ecosystem. We help advertisers and publishers identify and understand audiences, activate campaigns, and measure what matters – across any TV content or device. Aperture, our converged TV platform, simplifies cross-screen advertising through a streamlined workflow that brings together identity, data, and inventory with hundreds of integrated partners. For more information, visit or follow @CadentTV.

About Lee Equity Partners

Lee Equity Partners, LLC is a New York-based private equity firm that partners with management teams to build companies with strong growth potential. Lee Equity targets equity investments of $50 million to $150 million in middle-market control buyouts and growth capital financings in companies with enterprise values of $100 million to $500 million that are located primarily in the United States. The firm invests within three distinct sectors, financial services, healthcare services, and business services, where the team has developed deep relationships over decades. Additional information is available at