Adventures In Advertising Announces Change In Ownership; Positions Itself For Growth And Exciting Future
OSHKOSH, WI (Saturday, July 22, 2006) -
Adventures in Advertising Corporation today announced a management buy- out in partnership with The Riverside Company. This transaction was structured as a sale of Adventures in Advertising capital stock by 4imprint Group plc to The Riverside Company and members of AIA's senior management team. The Riverside Company approached 4imprint Group plc (former parent company to Adventures in Advertising) in February 2005, interested in AIA because of its growth potential and leadership position within the promotional products industry. The combining of Adventures in Advertising with the resources of The Riverside Company will allow AIA to capitalize on the opportunities within the industry over the next seven to ten years. David Woods, CEO of Adventures in Advertising, explains the decision. "4imprint Group has been an excellent corporate parent, but in the final analysis, the AIA business is unique and not like their other companies. For some time, we've been contemplating that each company may grow best on its own. The most successful companies focus intensely on doing one or two things extremely well. We believe the change of ownership will allow AIA to grow more effectively." AIA's management team is a highly-experienced and cohesive group that led the turnaround of the company in 2003. With demonstrated integrity and professionalism, they share the goal to make AIA one of the premier companies within the promotional products industry. The goal isn't to be the largest, but to be well-run and successful. Woods adds, "We have spent a lot of time positioning the company and building the foundation for growth. When planning for the future, we found Riverside to be the strongest and most experienced financial partner to help us achieve our objectives. They firmly support AIA's concentrated focus on profitable growth for an outstanding future." By achieving independence within the promotional products industry, AIA will bring flexibility and energy to the table. This increased freedom will allow AIA to create exciting service, education, and partnership opportunities for its network. All stakeholders – franchise owners and affiliates, employees and suppliers – will benefit from the organization's total focus on the Adventures in Advertising network and the opportunities on the horizon. Adventures in Advertising, numbering 60 employees, will remain headquartered in the Oshkosh, Wisconsin area and is exploring locations for its move from the space it currently shares with 4imprint, Inc. In order to achieve a smooth transition, this move will not occur until the summer of 2006. "We want to provide growth opportunities for our talented and dedicated workforce while welcoming our next chapter of growth," states Woods. Adventures in Advertising is a network of independently owned and operated professional, promotional product and corporate apparel distributorships. The organization currently includes over 325 franchised distributors throughout the United States with total billings of $118 million in 2004. Services that AIA provides to distributors include working capital, a strong technology platform, purchasing power, vendor support, marketing tools, training and education opportunities, back office support and access to other offerings in the industry. By combining its strengths – human, financial, technological, creative and relationship – Adventures in Advertising strives to be the partner of choice for distributor professionals in the promotional products industry. The Riverside Company The Riverside Company is the largest private equity firm focused on the small end of the middle market and is one of the industry's most experienced leveraged buyout investors. Riverside specializes in premier companies with enterprise values of less than $100 million, and partners with strong management teams to build companies through acquisitions and value-added growth. Since 1988, the firm has invested in 98 transactions with a total value of $2.1 billion, sales of $2 billion, EBITDA of $200 million and 10,000 employees. Its current portfolio numbers 31. Riverside offers SureClose® (the highest certainty that a transaction will close) and the resources to complete acquisitions smoothly and in as little as 35 days – thanks to its sizeable pool of capital under management (nearly $1.3 billion in six funds and growing), large staff in eight offices (New York, Cleveland, Dallas, San Francisco, Budapest, Prague, Warsaw and Munich), and long-standing relationships with partner lenders. The firm has produced top quartile returns for its investors, which are among the world's leading pension funds, endowments, funds-of-funds, insurance companies and banks. More information on The Riverside Company can be found at www.riversidecompany.com and www.riversideeurope.com.
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COMPANY INFORMATION
Adventures in Advertising Franchise Inc.
800 Winneconne Ave.
Neenah,
WI
Phone: (800)460-7836
Toll Free: (800)460-7836
Fax: (920)886-3845
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