In its third acquisition under Project Black, Ariel Alternatives has purchased the multicultural media and marketing services firm My Code.
“We chose to partner with a business that shares our passion for speaking directly to diverse audiences, ultimately closing the racial information and opportunity gap,” stated Leslie Brun, co-founder, chairman, and CEO of Ariel Alternatives. “We will work hard to scale My Code by providing access to both capital and customers.”
Since Project Black’s first acquisition, Ariel Alternatives has been working diligently to identify the next platform to position as Tier 1 suppliers, Parker Morse, a spokesperson for Brun and My Code CEO, told BLACK ENTERPRISE.
“My Code offers the opportunity to further diversify the portfolio with a company keeping pace in a rapidly evolving industry and strongly connects with Project Black’s mission to create scalable, sustainable minority-owned businesses,” Morse said.
The fresh acquisition enables My Code to drive growth through an alignment of interests with an investor that shares Project Black’s purpose.
In the near term, the spokesperson says My Code expects to:
Leverage Ariel’s capital to invest in growth initiatives
Welcome new diverse directors to its board that bring critical expertise, including Brun, who will serve as board chairman
Benefit from Project Black’s CPO Council, a group of Fortune 500 Chief Procurement Officers that provides data on supplier demand across sectors. The Council’s insights, among others from Ariel’s vast procurement network, will aid the Ariel investment team as it provides My Code with potential client introductions.
Source: Black Enterprise
