The Shipyard lands a nearly $60 million investment

Rick Milenthal, CEO of The Shipyard, emceed the first-ever Engineering Brand Love Summit on August 24 and 25. The Shipyard hosted attendees from more than 125 brands across the country to connect and talk about how top brands are building brand love today. | THE SHIPYARD

by: Dan Eaton | Columbus Business First

Posted: Sep 5, 2023 / 04:02 PM EDT

Updated: Sep 5, 2023 / 04:02 PM EDT

A Columbus advertising and marketing agency is getting a nearly $60 million infusion to drive its growth.

Alaris Equity Partners USA Inc. is investing at least $59.5 million into The Shipyard, the Columbus-based digital firm founded a decade ago by industry veteran Rick Milenthal.

The investment includes $42.5 million in preferred equity and $17 million for a minority ownership stake in the business. The Shipyard could receive an additional $5.5 million from Alaris if it meets certain financial hurdles.

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