Gemspring Capital Completes Acquisition of Rapid DisplaysThe Associated Press
WESTPORT, Conn.--(BUSINESS WIRE)--Jul 11, 2019--
Gemspring Capital, a middle-market private equity firm, is pleased to announce an affiliate has acquired a majority interest in Rapid Displays, Inc. (“Rapid” or the “Company”), a leading provider of point-of-purchase displays and related services.
Rapid provides a comprehensive solution for custom point-of-purchase displays, including creative design, engineering, prototyping, production, and logistics. The Company is headquartered in Chicago, Illinois with over 1 million square feet of manufacturing and distribution space across Chicago and the San Francisco Bay Area and serves retailers and consumer brands throughout North America and the rest of the world. Rapid differentiates itself with best in class creative capabilities and first-rate customer service, as evidenced by the Company’s 19-year streak of winning more Outstanding Merchandising Achievement Awards than any other competitor in the industry.
Rapid’s CEO, David Abramson, commented on the transaction: “I, along with my team at Rapid, am excited to partner with Gemspring. Their partnership-oriented approach is perfectly suited to Rapid. With Gemspring’s investment and support, I look forward to ensuring that Rapid continues to deliver innovation and the same high-quality service that our customers have come to expect.”
Bret Wiener, Managing Partner of Gemspring, noted: “Rapid is an extremely attractive platform given its market leadership, differentiated product and service offering, and single-minded commitment to customers. The Company’s strong creative capabilities and first-rate customer service have contributed to its stellar reputation among retailers and brands. We are excited to invest in Rapid and grow the business.”
Jon Altman, Managing Director at Gemspring, added: “Rapid has a strong reputation as the most creative company in the POP displays industry. By offering a complete solution, from concept design to final delivery and logistics, Rapid has become a reliable partner for blue-chip brands across multiple end markets. Rapid has an excellent foundation and we are eager to support David and his team in the next stage of the Company’s growth.”
About Rapid Displays, Inc.
Rapid Displays offers custom retail displays, store fixtures, kiosk merchandising, and more for an end-to-end visual merchandising solution. With eight decades of experience, over 500 employees and 1 million square feet of working space, Rapid is a one-stop shop for retail merchandising solutions. One integrated team of retail experts, designers, advisors and project managers results in a tailored and seamless experience for each customer. For more information, visit www.rapiddisplays.com.
About Gemspring Capital
Gemspring Capital, a Westport, Connecticut-based private equity firm with $355 million of equity capital under management, focuses on making control and structured equity investments in lower middle market companies headquartered in the United States and Canada. Gemspring partners with talented management teams and takes a hands-on approach to driving revenue growth and value creation. Target companies have up to $350 million in revenue and are in the business services, healthcare services, industrial services, software and tech-enabled services or specialty manufacturing sectors. For more information, visit www.gemspring.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190711005881/en/
CONTACT: Bret Wiener
KEYWORD: UNITED STATES NORTH AMERICA CANADA CONNECTICUT
INDUSTRY KEYWORD: OTHER MANUFACTURING DISCOUNT/VARIETY DEPARTMENT STORES TECHNOLOGY LOGISTICS/SUPPLY CHAIN MANAGEMENT SUPERMARKET MANUFACTURING FOOD/BEVERAGE FASHION RETAIL FINANCE CONVENIENCE STORE PROFESSIONAL SERVICES TRANSPORT HARDWARE
SOURCE: Gemspring Capital
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PUB: 07/11/2019 07:57 PM/DISC: 07/11/2019 07:56 PM