Golden Gate Capital Partners with Lexicon Management to Acquire Lexicon Marketing Corporation
LOS ANGELES, CA (January 17, 2003) – Golden Gate Capital and Lexicon Marketing Corporation management announced today the acquisition of Lexicon Marketing Corporation, the leading provider of multimedia English-language courses for Spanish speakers. Financial terms of the transaction were not disclosed.
Headquartered in Los Angeles, California, Lexicon offers market-leading English as a second language (ESL) products and services to the Hispanic community in the U.S. and Latin America. Among its best-known products are Inglés sin Barreras, the top-selling multimedia course for adults, and Disney’s World of English, an innovative multimedia course for children.
“We are very excited to partner with Lexicon’s management team,” said Ken Diekroeger, a Managing Director at Golden Gate Capital. “Lexicon is the clear category leader and offers a strong platform to address additional needs of the Hispanic population. Consumer products, and specifically Hispanic targeted consumer products, are a focus area for Golden Gate Capital.”
Lexicon’s management team will continue to manage the company in their former roles. Valeria Rico will remain as Chief Operating Officer and Brian Archibald will remain as Chief Financial Officer. Jose Luis Nazar, the former owner, has retained a minority equity interest in the company and will continue to serve as Chairman of the Board.
“Over the past 20 years, Lexicon has emerged as the world leader in study-at-home ESL products for the Hispanic community,” said Jesse Rogers, a Managing Director at Golden Gate Capital. “We at Golden Gate Capital will continue to improve and expand Lexicon’s core Inglés sin Barreras and Disney’s World of English franchises as well as explore new opportunities to build on the firm’s reputation as a respected brand in the Hispanic community. We look forward to creating additional opportunities for Lexicon’s customers and employees.”
About Golden Gate Capital
Golden Gate Capital is a San Francisco-based private equity investment firm with approximately $700 million of capital under management. Golden Gate is dedicated to partnering with world class management teams to invest in change-intensive, growth businesses. They target investments of up to $100 million in situations where there is a demonstrable opportunity to significantly enhance a company’s value. The principals of Golden Gate have a long and successful history of investing with management partners across a wide rage of industries and transaction types, including leveraged buyouts, recapitalizations, corporate divestitures and spin-offs, build-ups and venture stage investing. For more information, visit www.goldengatecap.com.
About Lexicon Marketing
Lexicon Marketing headquartered in Los Angeles, California is dedicated to the development of bilingual educational materials for the U.S. Hispanic Market. In addition, the company’s Hispanic Call Centers offer telemarketing and customer service capabilities to companies interested in accessing the Hispanic marketplace. For more information, visit www.lexiconmarketing.com.