Conversion Rate Optimization
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Lamplight Digital
(01)Engagement
Overview
Strategic buyer acquires Lamplight Digital for growth.
Founded in 2018, Lamplight Digital Media is a specialized marketing agency serving residential water treatment companies across North America. With 90% retainer-based revenue, proprietary tools, and a 100% outperformance rate for websites, Lamplight has become the dominant player in its niche. Built on industry knowledge, transparent service, and data-backed results, Lamplight empowers local businesses to generate a steady flow of profitable leads.
(Details)
- Engagement Sell-Side Representation
- Type Full Sale
- Category Web Design & Development, Performance Marketing, Data & Analytics, Content Marketing, Paid Media & Lead Generation, SEO, Conversion Rate Optimization
- Buyer Type Strategic Acquirer
- Deal Size Under $5M
- Services Valuation & Market Positioning, Buyer Targeting & Outreach, Offer & Negotiation Support, Due Diligence Management, Closing & Transition Support
(02)Inside The
Enterprise
Who Is Lamplight Digital?
Lamplight Digital Media is a full-service digital marketing agency exclusively serving the water treatment industry. The agency acts as the entire marketing department for clients, offering services like website development, local SEO, paid media, conversion rate optimization, and offline marketing. With over 3,000 A/B tests completed and a proprietary click identifier tool, Lamplight has achieved a 100% outperformance rate for customers who switch to a Lamplight-operated website. The team has over 15 years of experience in the space and is known for delivering measurable results, full-funnel tracking, and consistent lead generation.
(03)Founder's
Motive
The Why Behind The Sale
The founders saw a strategic opportunity to sell Lamplight and unlock the next phase of growth. With a strong team, proven systems, and expansion opportunities in commercial water treatment and adjacent verticals like well drilling, the agency was ready for a partner who could help scale operations and support clients more broadly.
(04)Founder’s Vision
Criteria for the Perfect Acquisition Fit
The ideal buyer would share Lamplight’s values around transparency, service, and data-backed strategy. The founders looked for someone who could maintain the agency’s culture and client-first mindset while expanding its capabilities and reach. Industry understanding, team support, and a commitment to growth were essential.
(05)Setting the Stage
Preparing Lamplight Digital for Acquisition
Lamplight had a 3.4x valuation multiple. The agency’s revenue was 90% retainer-based, with standardized 12-month packages and high client retention. A hybrid team of U.S.-based employees and international contractors supported operations, and proprietary tools and processes were in place to deliver consistent results.
(06)Attracting Suitors
Strategic Marketing of Lamplight Digital for Acquisition
Merge crafted marketing materials that highlighted Lamplight’s niche dominance, strong financials, and proprietary performance tools. The listing emphasized the agency’s high-margin model, long-term client relationships, and growth opportunities through upsells, template upgrades, and market expansion. Buyer outreach focused on those interested in recurring revenue and vertical specialization.
(07)Sealing the Deal
Perfect Matchmaking with the Ideal Buyer
Lamplight was acquired by a buyer with performance marketing experience. One founder remained actively involved post-transaction to lead operations and continue growing the business. The agency’s team structure, service offerings, and industry relationships remained intact to support long-term success.
(08)Unlocking Synergies
Positive Impacts Post-Transaction
Post-transaction, Lamplight began rolling out upgraded website templates and continued expanding into tangential sectors including commercial and industrial water treatment, as well as well drilling and pump repair. With 40% of the client base already active in these areas, the agency had a clear path for cross-sells and upsells. Internal systems and onboarding processes were also refined to support growth.
(09)Finding a New Home
The Merge Difference
Merge provided full support throughout the transaction process, from positioning and buyer outreach to diligence and deal structuring. Their experience in the marketing agency space helped ensure a smooth transition, a strong buyer fit, and a future-focused outcome that respected Lamplight’s culture, team, and track record.
Linkflow
(01)Engagement
Overview
Strategic buyer acquires Linkflow for growth.
Founded in 2019, Linkflow is a remote-first SEO agency built to drive sustainable growth for B2B SaaS clients. With a mission to deliver behavior-driven strategies that generate not just clicks but measurable business outcomes, Linkflow quickly earned a reputation as a trusted growth partner for high-performing tech companies. The agency offers a full-service SEO solution including keyword strategy, link building, and technical SEO that supports long-term lead generation, conversions, and revenue growth.
(Details)
- Engagement Sell-Side Representation
- Type Full Sale
- Category Content Marketing, SaaS & MarTech, Performance Marketing, Marketing & Advertising, Data & Analytics, Paid Media & Lead Generation, SEO, Conversion Rate Optimization
- Buyer Type Strategic Acquirer
- Deal Size Under $5M
- Services Valuation & Market Positioning, Buyer Targeting & Outreach, Offer & Negotiation Support, Due Diligence Management, Closing & Transition Support
(02)Inside The
Enterprise
Who Is Linkflow?
Led by founder Josh Elkin, Linkflow built its foundation on robust systems, a data-driven approach, and a deep understanding of user behavior. Over time, the agency expanded its services to include CRO, UX consulting, and Google Analytics implementation. With an average client tenure of 14.6 months and retainers ranging from $2,850 to $15,000 per month, Linkflow developed a steady stream of recurring revenue and long-term relationships with SaaS, e-commerce, and education clients. Backed by a strong leadership team and minimal founder involvement, the agency operated with remarkable efficiency and scalability.
(03)Founder's
Motive
The Why Behind The Sale
After several years of building and scaling Linkflow, Josh Elkin decided it was time to explore new ventures more closely aligned with his personal passions. With plans to live primarily in Europe and either invest in or start a new business, Josh was seeking more flexibility and a relatively quick transition. While Linkflow had been a rewarding journey, digital marketing was never meant to be his long-term calling.
(04)Founder’s Vision
Criteria for the Perfect Acquisition Fit
Josh prioritized finding a buyer who would align with the agency’s values, preserve its operational strength, and support the existing team. The continued involvement of Linkflow’s long-tenured GM and experienced leadership post-sale was a key factor, ensuring the agency would remain stable and successful after his exit. A strong cultural match and shared vision were also essential to maintaining team morale and growth.
(05)Setting the Stage
Preparing Linkflow for Acquisition
To position Linkflow as an attractive acquisition, we highlighted its consistent financial performance, scalable operations, and deep specialization in SaaS SEO. With $1M+ in revenue and more than $300K in EBITDA in 2023, a fully retainer-based model, and a 3.7x EBITDA valuation multiple, Linkflow offered a turnkey opportunity. The use of the EOS framework and the founder’s minimal role made it especially appealing to strategic buyers.
(06)Attracting Suitors
Strategic Marketing of Linkflow for Acquisition
At Merge, we presented Linkflow’s niche expertise, strong client retention, and proven track record to a curated pool of buyers. We emphasized the agency’s new service offerings, like Video SEO and CRO, which represented significant growth opportunities. We also highlighted the agency’s remote structure and strong leadership team, which added to its scalability and appeal.
(07)Sealing the Deal
Perfect Matchmaking with the Ideal Buyer
Linkflow found the right fit with Conifr, led by experienced buyer Michael Ter Mors. Conifr was looking for a specialized SEO agency to complement its performance marketing portfolio. Linkflow’s expertise in B2B SaaS was exactly what Michael needed. The agencies shared similar values around culture and team development, which made the integration process smooth and collaborative from the start.
(08)Unlocking Synergies
Positive Impacts Post-Transaction
Following the acquisition, Linkflow retained its leadership team and continued operating independently while integrating into Conifr’s broader strategy. The combined expertise and aligned service offerings have created opportunities to expand into new service lines, cross-sell to existing clients, and scale operations with shared infrastructure.
(09)Finding a New Home
The Merge Difference
At Merge, we supported Josh through every step of the sale. From positioning and marketing the agency to negotiating terms and closing the deal, we ensured the outcome aligned with his personal and professional goals. Our buyer network and tailored process helped identify the right partner and made for a smooth, successful transition.
The Snow Agency
(01)Engagement
Overview
Strategic buyer acquires The Snow Agency for growth.
Founded in 2018, The Snow Agency has established itself as a distinguished performance marketing agency dedicated to serving e-commerce brands. With a comprehensive suite of retainer services that includes full-service social media advertising, search engine marketing, SMS, email marketing, and conversion rate optimization (CRO), The Snow Agency leverages a data-driven approach to deliver tangible results. The agency’s proficiency across various advertising platforms and technologies, combined with the creative prowess of their owned design and development studio, Kindred Studio, positions TSA uniquely in the marketplace.
(Details)
- Engagement Sell-Side Representation
- Type Full Sale
- Category Over $10M, Paid Media & Lead Generation, Conversion Rate Optimization
- Buyer Type Strategic Acquirer
- Deal Size $10M-$25M
- Services Valuation & Market Positioning, Buyer Targeting & Outreach, Offer & Negotiation Support, Due Diligence Management, Closing & Transition Support
(02)Inside The
Enterprise
Who Is The Snow Agency?
The Snow Agency distinguishes itself by offering specialized marketing services tailored to e-commerce brands, driven by a data-centric methodology and a deep understanding of digital advertising ecosystems. Their commitment to innovation and results has not only earned them a reputable client roster but also a significant portion of their revenue through creative initiatives launched by their in-house studio, Kindred Studio.
(03)Founder's
Motive
The Why Behind The Sale
Dan and Jon Snow, propelled by their entrepreneurial spirit and success in building and exiting e-commerce brands, began to explore strategic exits from The Snow Agency to focus on new ventures. Their journey towards finding a strategic partner was motivated by a desire to pursue new business opportunities while ensuring The Snow Agency’s continued growth and success.
(04)Founder’s Vision
Criteria for the Perfect Acquisition Fit
In their search for a strategic partner, the Snows aimed for outcomes that would allow Dan to dedicate himself to his media company and enable Jon to leverage his industry expertise in a larger venture. They sought a partner who would support these goals, demonstrating the importance of aligning The Snow Agency’s future with their personal ambitions and the agency’s long-term vision.
(05)Setting the Stage
Preparing The Snow Agency for Acquisition
Dan and Jon Snow’s preparatory efforts to position The Snow Agency as an attractive acquisition target emphasized the agency’s leadership in e-commerce marketing and its innovative approach to client services. This strategic positioning was key to attracting prospective buyers who valued The Snow Agency’s unique market proposition and growth potential.
(06)Attracting Suitors
Strategic Marketing of The Snow Agency for Acquisition
The strategic marketing of The Snow Agency for acquisition highlighted its status as an industry leader, its partnership with Shopify, and its pioneering role in e-commerce SMS marketing. These accolades, combined with The Snow Agency’s innovative service offerings, attracted attention from multiple prospective buyers, showcasing the agency’s value and potential for growth.
(07)Sealing the Deal
Perfect Matchmaking with the Ideal Buyer
The partnership with Jeff Herzog and Baleon Capital, representing Avenue Z, emerged as the perfect match for The Snow Agency. The shared vision and entrepreneurial drive between Jon Snow and Jeff Herzog, along with Avenue Z’s appreciation for The Snow Agency’s comprehensive service model and creative capabilities, facilitated a seamless and promising union.
(08)Unlocking Synergies
Positive Impacts Post-Transaction
The acquisition by Avenue Z opened new avenues for innovation, client service, and expansion for The Snow Agency. This strategic alliance not only aligned with the Snows’ aspirations for TSA’s future but also set the stage for continued success and growth in the dynamic marketing industry.
(09)Finding a New Home
The Merge Difference
The expertise and strategic insight of Merge was instrumental in bringing The Snow Agency and Avenue Z together, marking a new chapter of growth and innovation. This partnership underscores the importance of shared goals and visions in achieving successful outcomes in the agency M&A landscape.
Conversion Fanatics
(01)Engagement
Overview
Entrepreneurial buyer acquires Conversion Fanatics for growth.
Founded in 2014 by Manish Punjabi and Justin Christianson, Conversion Fanatics is an Austin-based CRO agency specializing in services for a range of B2C brands across various industries. Known for its commitment to helping clients enhance their revenues through CRO and PPC, the agency has achieved substantial growth since 2015. Conversion Fanatics emphasizes the importance of actionable data and better marketing performance, ensuring not just increased conversion rates but also a higher revenue per visitor. With a client-centric approach and a history of over 8 years in the industry, they have maintained a strong focus on delivering consistent results.
(Details)
- Engagement Sell-Side Representation
- Type Full Sale
- Category Over $10M, Conversion Rate Optimization
- Buyer Type Private Equity
- Deal Size $10M-$25M
- Services Valuation & Market Positioning, Buyer Targeting & Outreach, Offer & Negotiation Support, Due Diligence Management, Closing & Transition Support
(02)Inside The
Enterprise
Who Is Conversion Fanatics?
Conversion Fanatics stands out in the CRO landscape for its unique approach that blends rigorous A/B testing with comprehensive strategies encompassing everything from ideation to implementation. This agency sets itself apart by not only driving conversion rates but also focusing on enhancing the overall customer experience, making them a go-to partner for brands seeking to optimize their online presence in a holistic manner.
(03)Founder's
Motive
The Why Behind The Sale
Manish and Justin, entrepreneurs at heart, decided to sell Conversion Fanatics to pursue new business ventures. While they cherished their journey with the agency, they believed it was the optimal time to sell due to a favorable market for sellers and the potential for a new owner to capitalize on the agency’s significant growth prospects. Their goal wasn’t just to secure the right price; they sought a true partner who would ensure the agency’s continued prosperity.
(04)Founder’s Vision
Criteria for the Perfect Acquisition Fit
The founders’ vision for the sale encompassed more than just financial gain. They aimed to find a partner who could support Conversion Fanatics’ next growth phase, offer more opportunities to their team, and align with the agency’s thriving culture. They partnered with Merge, known for aligning sellers with buyers on strategic, cultural, and financial terms.
(05)Setting the Stage
Preparing Conversion Fanatics for Acquisition
Conversion Fanatics stood out as a results-driven agency with a deep commitment to conversion optimization. Its impressive clientele, including Dr. Axe and Burt’s Bees, often renewed contracts due to the agency’s comprehensive services and high value. The agency also boasted a world-class culture, focusing on hiring top talent, continuous improvement, and a balance of accountability and team-building activities. The growing e-commerce sector and the demand for optimized websites highlighted the agency’s scalable business model and substantial growth potential.
(06)Attracting Suitors
Strategic Marketing of Conversion Fanatics for Acquisition
Merge played a pivotal role in marketing Conversion Fanatics for acquisition. By thoroughly understanding the agency from its team dynamics to financials, Merge accurately assessed the agency’s market worth and developed compelling marketing materials. These materials effectively communicated the agency’s value proposition, attracting high-potential buyers in their network.
(07)Sealing the Deal
Perfect Matchmaking with the Ideal Buyer
After targeted outreach, Fusion92 emerged as the ideal partner for Conversion Fanatics. The acquisition by Fusion92 represented a strategic fit, promising to leverage the agency’s existing strengths and potential for future growth.
(08)Unlocking Synergies
Positive Impacts Post Conversion Fanatics Acquisition
The acquisition by Fusion92 opened avenues for synergistic growth. It provided Conversion Fanatics with expanded resources and opportunities, contributing to Fusion92’s broader goal of evolving into a comprehensive marketing solutions provider.
(09)Finding a New Home
The Merge Difference
Merge’s involvement was instrumental throughout the acquisition process. Their expertise in facilitating a misery-free breed of M&A ensured a smooth transition for Conversion Fanatics, reflecting their commitment to successful, mutually beneficial transactions.
Climb Marketing
(01)Engagement
Overview
Entrepreneurial buyer acquires Climb Marketing for growth.
Founded by Jeremy Lopatin in 2014, Climb Marketing is a Michigan-based digital marketing agency recognized as a Certified B Corporation. The agency specializes in SEO, SEM/PPC management, content, creative, and measurement services, primarily for B2B companies.
(Details)
- Category Conversion Rate Optimization, Under $10M, Paid Media & Lead Generation, SEO
(02)Inside The
Enterprise
Who Is Climb Marketing?
Known for its strategic programs that enhance digital visibility and drive sustainable growth, Climb Marketing has established a reputation for strong client retention, high-performing campaigns, and consistent retainer contracts. Climb Marketing’s dedication to ethical and sustainable business practices, coupled with a client-centric approach, has solidified its status as a trusted partner in driving robust digital growth and fostering enduring client relationships.
(03)Founder's
Motive
The Why Behind The Sale
Jeremy Lopatin had nurtured Climb Marketing to success over nearly a decade but found himself yearning for a change, feeling somewhat burnt out with administrative responsibilities. He aimed to refocus on running their e-commerce business alongside his wife, who was planning to pursue an advanced degree and a career shift. This personal and professional pivot was the impetus for Jeremy’s decision to exit Climb Marketing.
(04)Founder’s Vision
Criteria for the Perfect Acquisition Fit
Jeremy’s vision for Climb’s acquisition was not solely driven by financial gain. He sought an aligned buyer who could maintain the agency’s esteemed culture, provide growth opportunities for the team, and continue to add value for clients. It was crucial that the new owner shared Climb’s ethos of doing good for their clients and team members.
(05)Setting the Stage
Preparing Climb Marketing for Acquisition
Climb Marketing, a Certified B Corporation, had cultivated a purpose-driven work environment and a culture that fostered team longevity and client satisfaction. With an impressive 95% renewal rate, minimal churn, and a large portion of revenue from long-term contracts, Climb’s business model and internal culture were key in positioning it for acquisition.
(06)Attracting Suitors
Strategic Marketing of Climb Marketing for Acquisition
Recognizing Climb Marketing’s unique value, the M&A firm set out to find the right buyer. They began with a comprehensive valuation, created engaging marketing materials to showcase Climb’s strengths, and reached out to targeted buyers who would align with the agency’s culture and growth trajectory.
(07)Sealing the Deal
Perfect Matchmaking with the Ideal Buyer
The search for Climb Marketing’s ideal partner culminated with the selection of SEO Werkz. This decision was based not only on financial aspects but also on the cultural and strategic fit between the two agencies, promising a harmonious and prosperous future.
(08)Unlocking Synergies
Positive Impacts Post-Transaction
The acquisition by SEO Werkz opened new avenues for Climb Marketing, leveraging the combined strengths of both agencies. It presented opportunities for expanded services, greater market reach, and continued growth, aligning with Climb’s ethos and business model.
(09)Finding a New Home
The Merge Difference
Merge provided invaluable guidance throughout the acquisition process. Their expertise in aligning businesses with suitable partners ensured that Climb Marketing found a new home that would respect its values and bolster its growth, exemplifying the firm’s commitment to successful, symbiotic business matches.