Cascadia Capital Launches New Media & Internet Practice
Investment Bank Expands to Serve Capital Needs of New Media Companies
SEATTLE, WA, August 17, 2005 -- Cascadia Capital, a national investment bank serving middle market and emerging growth companies, announced today that it has launched a New Media & Internet Practice Group. The new group will offer a broad range of investment banking services to companies looking to develop innovative business models that reflect the convergence of media and telephony.
Since January 2004, there has been substantial market activity among new media and Internet companies—410 M&A transactions, 426 private placements and 46 IPOs, according to Michael Butler, Chairman and CEO of Cascadia Capital. "This is one of the last sectors to recover from the economic downturn, and there is a great deal of pent up demand for growth capital. There is also significant interest from the capital markets to reinvest in the sector."
Cascadia Capital's New Media & Internet Group builds on the success the firm has achieved on an informal basis. The new practice, which already has three client mandates underway, will leverage the firm's expertise in corporate finance, M&A and strategic advisory services as well as its past experience in the sector, including work with companies such as Homes.com, a premier technology enabling business solutions provider for the real estate industry sold to major publishing company, and Dotster, an Internet Service Provider sold to an institutional investor.
About Cascadia Capital
Cascadia Capital (www.cascadiacapital.com) offers corporate finance, mergers & acquisitions, strategic advisory services, and capital market services to companies across North America. Cascadia Capital serves emerging growth and middle market companies, both public and private. The firm focuses on the following sectors: Information Technology; Communications; Security & Defense; Healthcare; Industrial; New Media & Internet; and Consumer & Retail.