Transaction Overview
- Hennepin Partners represented Carousel Digital Signage, a division of Tightrope Media Systems, in its sale to Navori Labs, a portfolio company of Maguar Capital.
- Carousel is a leading provider of digital signage and content management software, with a deep focus on education, corporate communications and government.
- Carousel’s cloud-based platform lets organizations quickly and securely create, publish and manage visual messages across screens, devices and locations, updated remotely and in real time.
Drivers of Interest
- Established market leader with 25+ years in digital signage and a base of more than 1,100 customers across education, corporate, government, healthcare and other verticals.
- Hardware-agnostic platform that supports all major media players, including Apple TV, BrightSign, LG webOS and Chrome Enterprise, and deploys content across hundreds of devices in minutes.
- Strong logo retention and net revenue retention above 100%, showing product-market fit and room to grow within existing accounts.
- Scalable, high-margin SaaS model, with recurring revenue making up nearly all of total revenue.
- Clear strategic fit with Navori, extending its vertical reach and North American footprint.
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