With the help of a team of lawyers from DLA Piper, private equity firm Navigation Capital Partners has pledged to invest up to $15 million in interactive marketing agency Definition 6.
DLA partner Joseph B. Alexander Jr. (pictured below) and associate Daniel P. Rollman, as buyer’s counsel, advised Navigation in its decision to take a controlling ownership share of Atlanta-based Definition 6. 
Definition 6 is the third portfolio company for this private equity firm, which has $375 million under commitment and is focused on investing in middle-market companies. Alexander said he also helped NCP acquire its other two portfolio companies: Dallas-based Exeter Finance Corp. and Atlanta-based James Brown Contracting.
The Definition 6 deal, said Alexander, is a small one for NCP. The company’s investment in Exeter, an auto finance company, for example, was $60 million, he added.
Alexander said his client was interested in Definition 6 because “they believe strongly that businesses are going to look to the Internet to advertise, that interactive media is the wave of the future in terms of advertising dollars.”
Greenberg Traurig shareholder Stacey O. Gallant led the representation of Definition 6, along with shareholders Gary E. Snyder, Ronald W. Eisenman and associate Guillermo N. Wasserman.
The companies now share some top talent. After inking the deal, NCP appointed Managing Partner Larry Mock, Operating Partner O.G. Greene and Vice President Zuri Briscoe to Definition 6’s board of directors.
Definition 6, said Gallant, was interested in the deal because “they wanted the capital so they could expand the products and services offered to their customers and also potentially expand geographically.”
Gallant and Alexander said the deal closed quickly, in part because Navigation financed the transaction itself. The legal work took less than 60 days, Alexander said.
“In this economic climate, that’s kind of astounding,” Gallant said. “And that it actually closed.”
“This is one of the few deals that we’ve gotten started and closed,” Alexander said, explaining that he’s working on a few other potential deals for Navigation. “Until they get closed, though, you just kind of sit and hope. That’s the way it is right now.”