By Andrea Harwood Palmer
\nThe Saratoga-based advertising agency Fingerpaint has secured an investment partner, Knox Lane, a private equity firm in San Francisco.
\n\u201cEven with everything going on in 2020, it was a great year for us,\u201d said Beth Beck, head of the company\u2019s Saratoga Springs office. \u201cIt was a year of continued growth.\u201d
\nShe said company founder Ed Mitzen \u201cmade the decision to find an investment partner. Not someone to be part of the day-to-day operations, but someone to act as an investment partner,\u201d said Beck. \u201cOver the last part of 2020, Ed spoke with over 30 different investment groups. At the close of the year, he had decided to move forward with our partnership with Knox Lane.\u201d
\nMitzen was attracted to Knox Lane\u2019s commitment to make sure there are women in leadership positions.
\nThe investment from Knox Lane is strictly about helping Fingerpaint achieve continued growth, said Beck. Mitzen will maintain control of the company while Knox Lane will provide capital for continued growth capacity within the ad agency, as well as acquisitions.
\nOver the next year, Fingerpaint will create its first board of directors, of which a representative of Knox Lane will be a part.
\n\u201cThe decision to partner together was very much a strategic decision. There will be acquisitions of many more companies to add to the Fingerpaint family going forward,\u201d said Beck.
\nMitzen started Fingerpaint 12 years ago, during a recession. Previously, he founded Creative Healthcare Solutions, Inc. in Ohio and Palio Communications in Saratoga Springs. Both companies have since been sold.
\nFingerpaint has acquired three other companies since its inception, including healthcare consulting, market access and analytics firm 1798 about a year ago.
\nBeck has been with in the advertising industry for over 25 years.
\n\u201cTo come from large holding companies and networks where we did amazing work, and to go somewhere where you have a culture and group of people so committed to each other where you can continue to do amazing work,\u201d she said.
\n\u201cThe Saratoga office is really the heart of Fingerpaint, not just the business, but the culture. It\u2019s very much a product of Ed and the folks that have been in leadership at the agency,\u201d said Beck.
\nBeck said Fingerpaint plans to stay in Saratoga, investing in their people and overall growth. The agency has additional locations in Pennsylvania, Arizona, California and New Jersey.
\n\u201cIt\u2019s been a good run for Saratoga. Our business is very stable. We have solid talent and wonderful clients. Now we\u2019re going to see where we can take it next, while maintaining our great culture and expanding what we can offer our clients,\u201d said Beck.<\/p>\n","protected":false},"excerpt":{"rendered":"
By Andrea Harwood Palmer The Saratoga-based advertising agency Fingerpaint has secured an investment partner, Knox Lane, a private equity firm in San Francisco. \u201cEven with everything going on in 2020, it was a great year for us,\u201d said Beth Beck, head of the company\u2019s Saratoga Springs office. \u201cIt was a year of continued growth.\u201d She […]<\/p>\n","protected":false},"author":196,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-35812","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"\r\n