PlattForm Advertising has sold to private equity firm Sterling Partners.
Lenexa-based PlattForm is an industry leader in higher education marketing, particularly in the for-profit college sector. The company ranks No. 1 on the Kansas City Business Journal listing of Top Area Advertising Agencies, based on net income of $133.7 million generated locally in 2011.
Financial terms of the deal were not disclosed.
Sterling is buying out PlattForm’s previous main investor, Maryland-based Arlington Capital Partners.
“Sterling Partners has such tremendous knowledge in the education sector, which will bring value to our partnership,” said PlattForm founder and Chairman Michael Platt, who will keep an equity interest in the company. “We could not have found a more perfect partner and we are excited to continue to grow PlattForm together.”
PlattForm has 330 employees.
PlattForm was also featured as one the Kansas City Business Journal's Champions of Business. The program honors companies that excel in financial performance, innovation and community service.