Pfingsten Partners has acquired Sign-Zone, a manufacturer of wide format promotional signage and displays. This acquisition is the third platform investment for Pfingsten’s $382 million fifth fund which closed in March 2016. HarbourVest co-invested with Pfingsten on this transaction.
Sign-Zone is a maker of wide format, portable promotional signage and displays that are sold under the Showdown Displays, Creative Banner Displays and Victory Corps brand names. Products include table covers, retractable banners, event tents, sail signs, floor displays and other related display types. The company sells its products to the education, healthcare, financial services and technology markets through a network of over 20,000 promotional products distributors, sign shops and printers. The company was founded in 1999 and is based in the Minneapolis suburb of Brooklyn Center, MN (www.signzoneinc.com).
“Showdown Displays and Creative Banner Displays deliver innovative products with outstanding service that helps customers grow their businesses. We look forward to building on the company’s success through a continued focus on customers and new products while seeking complementary acquisitions,” said Scott Finegan, a Pfingsten Managing Director.
“We are thrilled to be joining forces with Pfingsten. We had many options, but Pfingsten was clearly the best partner for our business,” said John Bruellman, Sign-Zone CEO. “Their operating resources, global capabilities and conservative capital structure will allow us to accelerate our growth while further enhancing the legendary customer experience that our customers have come to expect.”
Pfingsten invests in middle market manufacturing, distribution and business services companies that have transaction values ranging from $15 million to $100 million and EBITDA between $3 million and $12 million. Since founding in 1989, Pfingsten has acquired 117 such companies through five funds with total commitments of $1.3 billion. The firm is based in Chicago with additional representative offices in India and China (www.pfingsten.com).
HarbourVest invests in venture capital, buyout, mezzanine debt, credit, and real estate through primary fund investments, secondary purchases, and direct co-investments. The firm has more than 400 employees, including 100 investment professionals, located in Asia, Europe, Latin America, and the United States. HarbourVest has offices in Beijing, Bogotá, Boston, Hong Kong, London, Seoul, Tel Aviv, Tokyo, and Toronto (www.harbourvest.com).
Minneapolis-based investment bank Quetico Partners (www.queticopartners.com) was the financial advisor to Sign-Zone.
Paul Hastings (www.paulhastings.com) served as legal advisor to Pfingsten. The Paul Hastings team was led by Partners Brian Richards, Ziemowit Smulkowski and Lisa Rushton.
© 2017 Private Equity Professional | May 19, 2017