(CAMBRIDGE, ONTARIO, November 17, 2010) NorthSpring Capital Partners ("NorthSpring") today announced the closing of an investment in Pegasus Direct Mail Worx Inc. ("Pegasus") of Hamilton, ON. NorthSpring provided $400,000 of mezzanine financing to enable Dan Schottlander, the former General Manager of Pegasus, and his wife Anne, to complete a management buyout. Commented Brian Hunter, President of NorthSpring, "We are very excited to be partnering with Dan and his very capable staff. Pegasus has been a very successful company under Dan’s leadership and we share his belief that Pegasus and the direct mail industry are poised for strong growth." Added Schottlander, "The completion of the sale fulfils both my dream and the long-term vision the former owner and I had nearly six years ago before his untimely passing late last year."
About Pegasus Direct Mail Worx:
Pegasus assists clients to achieve highly successful direct mail marketing projects by providing single source, concept to mailbox capabilities. Utilizing the latest techniques and technology, projects will benefit from a proven quality assurance program at all stages - data processing, variable imaging, offset printing, inkjet addressing, bindery, inserting, automated polybagging and more. From mail design and development, print right through to delivery, Pegasus Direct Mail Worx provides exceptional attention to detail and quality service every step of the way. With over 30 years of experience, Pegasus offers creative ideas, full design capabilities, project management and consultative services that are second to none. Recent privacy concerns over telemarketing and email have driven marketing dollars back into efficient and proven direct mail as the medium of choice for many companies.
About NorthSpring Capital Partners:
NorthSpring Capital Partners provides risk capital to small and medium sized companies with the goal of creating value. Investments range between $250,000 and $1 million in the form of subordinated debt and/or equity across a variety of traditional industries located in Southern Ontario. NorthSpring takes a flexible approach when reviewing investment opportunities and tailors its investment structure to fit the unique aspects of the business. Funds are available for:
- Management Buyouts and acquisitions
- Growth companies needing capital
- Recapitalizing the business
- Unlocking the value of SR & ED claims
- Turnarounds, in select situations