Golden Gate Capital and CIC Partners announce investment in SignStorey, Inc.
FAIRFIELD, CT (May 2, 2005)– Golden Gate Capital and CIC Partners announced today that they have made a joint investment in SignStorey, Inc., a leading in-store television network for the grocery industry. Financial terms of the deal were not disclosed.
“We are excited to be working with the veteran management team at SignStorey,” said Jesse Rogers, Managing Director at Golden Gate Capital. “SignStorey delivers a powerful television marketing platform right at the point of the consumer’s purchasing decision. Unlike traditional media, SignStorey’s customized network offers retailers and advertisers an uncluttered, real-time means of reaching target customers. We believe this format is perfectly suited to packaged goods advertisers seeking higher returns on their ad spending.”
“The next frontier for advertising will take place where the products are sold, and we believe SignStorey fits that bill perfectly,” said Michael Rawlings, General Partner at CIC Partners and former CEO of Tracy-Locke Advertising and former President of Pizza Hut.
SignStorey, founded in 2000 and headquartered in Fairfield, Connecticut, provides the hardware, installation and programming for a supermarket television network deployed-or in process-at more than 2,000 supermarkets nationwide. Its retailer partners, including Albertsons, Pathmark and Price Chopper, see value in the company’s unique approach to creating an enhanced shopping experience that provides a combination of useful information to the consumer and high-impact advertising messages. Quality content is key to the SignStorey approach, so the company has alliances with a number of top companies that specialize in food, nutrition, meal planning and entertaining, including Condé Nast and epicurious.com, Taunton Press and Fine Cooking Magazine, cooking.com and others.
“This investment will enable SignStorey to further accelerate its plans and deliver new innovative services to current customers and also expand its reach into additional retail chains,” said Virginia Cargill, President and CEO. “We are pleased to be working with the knowledgeable teams at Golden Gate Capital and CIC Partners as we move into our next phase of development.”
About Golden Gate Capital
Golden Gate Capital is a San Francisco-based private equity investment firm with approximately $2.6 billion under management. Golden Gate is dedicated to partnering with world class management teams to invest in change-intensive, growth businesses. They target transactions of up to $250M in equity in situations where there is a demonstrable opportunity to significantly enhance a company’s value. The principals of Golden Gate Capital have a long and successful history of investing with management partners across a wide range of industries and transaction types, including leveraged buyouts, recapitalizations, corporate divestitures and spin-offs, build-ups and venture stage investing. For more information, please visit www.goldengatecap.com.
About CIC Partners
CIC Partners is a Dallas-based middle market private equity firm. Its unique strategy is to invest personal, not institutional capital from a select group of successful operators. CIC and its predecessor firm have a 25-year history of success, having partnered with more than 40 companies across 14 industries. Joining CIC Partners in the investment is one of its Advisory Partners, Roger Enrico, Chairman of the Board of DreamWorks Animation, Inc. and former Chairman and CEO of PepsiCo, Inc. For more information, visit www.cicpartnerslp.com.
Founded in 2000, SignStorey is a leading provider of in-store digital media networks to the grocery industry, providing the hardware, installation and programming. SignStorey provides retailers and advertisers with a new way to market products to individual shoppers who are increasingly difficult to reach with traditional media. The company has also built a reputation for combining its cutting-edge in-store television network with expert marketing services that leverage all aspects of the shopping cycle. For more information, visit www.signstorey.com.