Cassel Salpeter & Co. Facilitates Sale of EveryMundo to PROS Holdings
Cassel Salpeter & Co., an independent investment banking firm that provides advice to middle market and emerging growth companies in the U.S. and worldwide, today announced it has successfully represented EveryMundo, LLC, a digital offer marketing pioneer with headquarters in Miami, Fla., in the company’s sale to PROS Holdings, Inc. (NYSE:PRO), a provider of SaaS solutions optimizing shopping and selling experiences with headquarters in Houston, Texas.
PROS paid $80 million in cash at closing, subject to certain customary adjustments, and will deliver approximately $10 million in stock in the future, subject to certain conditions.
Since its founding, EveryMundo has been focused on helping brands like American Airlines, Star Alliance, Tennis Australia, Greyhound, and Japan Airlines Vacations maximize their reach and engagement, enabling deeper direct relationships with their customers across multiple channels in the most flexible and profitable way possible. For example, with airlines, this means being able to quickly and effortlessly publish offers on direct or indirect channels that entice customers back to owned channels, avoiding the increasing fees charged per offer by global distribution systems that limit reach and erode margin.
“We’re proud to have been able to work with the EveryMundo team and my son, Co-Founder and President Seth Cassel, to find the right buyer and partner in PROS,” said Cassel Salpeter Chairman and Co-founder James S. Cassel. “There is a strong cultural fit and shared vision between the companies. The combination of EveryMundo and PROS enables them to scale to the next level of growth, gain greater market penetration and increase digital consumer engagement.”
EveryMundo Co-Founder and President Seth Cassel added: “Today is a monumental day for our team and a next step in our quest to disrupt industry paradigms hindering market growth and opportunity for airlines and B2B organizations. The cultural fit and business model alignment with PROS is what makes this combination so powerful and what will enable us to transform the brand experiences for the businesses we serve.”
“It was incredibly rewarding working with Cassel Salpeter, said EveryMundo Co-Founder and Chief Executive Officer Anton Diego. “The firm’s knowledge and experience were invaluable throughout this process, and helped make the transaction seamless, without interrupting our business, and while working quickly and diligently to achieve the best outcome for our team.”
The Cassel Salpeter team was led by Chairman and Co-founder James S. Cassel and Managing Director Philip Cassel, with the assistance of Associate Edward Kropf.
About Cassel Salpeter & Co., LLC
Cassel Salpeter & Co. is an investment banking firm with professionals who have more than forty years of financial experience. They deliver smart, straightforward advisory services to middle-market companies across America. With a thorough understanding of their clients’ industries and a keen sense of the economy, the Cassel Salpeter team provides independent, timely advice so clients can capitalize on a rapidly changing global environment. Headquartered in Miami, Florida, Cassel Salpeter is led by James Cassel and Scott Salpeter. Member FINRA and SIPC.
