ALEXANDRIA, VA: Purple Strategies has secured a growth investment from Boston-based private equity firm WestView Capital Partners.
Purple cofounders Steve McMahon and Alex Castellanos, managing partner Kristen Morgante and all other partners will continue in their roles leading the agency.
“Our new partners agree we should preserve our unique culture and offering, so Purple will continue to be Purple in all the ways trusted by our clients and team members." said Morgante via email. "What we’re excited to have access to now is their deep experience working with companies like ours to effectively build and scale the operational structure needed to support rapid growth like we’ve seen.”
WestView Capital’s financial injection marks Purple's first investment since it launched in 2008.
Representatives from WestView could not be immediately reached for further comment.
WestView Capital focuses exclusively on middle-market growth companies. The firm manages approximately $1.7 billion in capital across four funds, according to a company statement.
Purple, headquartered in Alexandria, Virginia, also has an office in Chicago, Illinois. The agency specializes in crisis and issue management, business transformation, change management, executive positioning and strategic communications.
In April, Purple senior insights strategist Nick Driver joined BCW as SVP and research lead for North America.
This story was updated on August 26 with quotes from Morgante.
