Chicago Growth Partners Completes Sale of PRIMIS Marketing Group; Purchase by Parthenon Capital marks end of successful three-year investment.CHICAGO -- Chicago Growth Partners LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("CGP CGP CommuniGate Pro (messaging e-mail server) CGP Certified Group Psychotherapist CGP Controlled Goods Program (Canadian) CGP Certified Geriatric Pharmacist (pharmacist certification) "), a Chicago-based private equity firm that focuses on lower middle market growth companies, today announced it has sold 100% of its interest in PRIMIS PRIMIS Primary Care Information Services (medical computer support group, England) PRIMIS Premier Integrated Marketing Information Solutions Marketing Group to Parthenon Capital. The sale marks the end of a successful three-year investment in the company. Founded in June 2003 behind a core growth strategy to "buy and build" in the fragmented frag·ment n. 1. A small part broken off or detached. 2. An incomplete or isolated portion; a bit: overheard fragments of their conversation; extant fragments of an old manuscript. 3. marketing information services See Information Systems. industry, PRIMIS has grown to become the premier provider of comprehensive marketing data and analytics to the middle market. PRIMIS' initial platform, AccuData America, Inc., is the largest independent provider of compiled marketing data and database analysis services in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Over the past three years, through the continued support of Chicago Growth Partners, PRIMIS completed three additional acquisitions: Hyphos360, a provider of marketing database management solutions; MarketModels, a provider of high-speed marketing automation technology; and CoReg360, a provider of online co-registration marketing solutions. In combination, these four businesses offer an attractive, complementary set of data, database management, and analytical analytical, analytic pertaining to or emanating from analysis. analytical control control of confounding by analysis of the results of a trial or test. services and technologies that can be naturally extended and cross-sold to their respective customer bases. "We have thoroughly enjoyed working with the terrific group of folks at PRIMIS," stated CGP Partner Bob Blank. "The company's success serves as an excellent example of the superior investment results that can be achieved through the partnering of a committed equity sponsor with the vision of an exceptionally talented and dedicated management team." In addition to CGP's capital commitment, PRIMIS benefited from CGP's value-add capabilities in the IT arena. "PRIMIS management fully utilized CGP's technology capabilities to both solve and implement solutions to the strategic and tactical issues so critical to a business of this nature," remarked CGP's Senior Vice President of Information Technology, Jim Milbery. "Furthermore, PRIMIS was able to utilize CGP's relationships in the technology space to staff the long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. needs of the business." The sale of PRIMIS Marketing Group resulted in a return of approximately 3.5x CGP's invested capital and an internal rate of return of 52%. PRIMIS is the fifth exit out of the twenty-three investments made by CGP's seventh fund. Gridley & Company, LLC served as advisors to Chicago Growth Partners for the sale of PRIMIS Marketing Group. About Chicago Growth Partners CGP is a Chicago-based private equity investment firm committed both to its investments and its investors in the lower middle market. The firm targets three primary sectors: business and consumer services Consumer Services refers to the formulation, deformulation, technical consulting and testing of most consumer products, such as food, herbs, beverages, vitamins, pharmaceuticals, cosmetics, hair products, household cleaners, [paints, plastics, metals, waxes, coatings, minerals, , healthcare and industrial growth. CGP's Partners have specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. in these industry sectors for more than 20 years and their combined experience in each of these areas totals 100-plus years. CGP distinguishes itself through its experienced team - including in-house In-house In the context of general equities, keeping an activity within the firm. For example, rather than go to the marketplace and sell a security for a client to anyone, an attempt is made to find a buyer to complete the transaction with the firm. marketing, information technology and operations expertise; its approach to the development and execution of strategies designed to build success; its focus on growth as the primary driver of returns and its commitment to partnering with portfolio companies that demonstrate strong management capability and opportunity. CGP moves beyond the delivery of growth capital by lending significant industry experience, knowledge and leadership to each business situation. CGP currently manages $1.2 billion of committed capital while investing Chicago Growth Partners VIII, a fund raised in Spring 2006. For more information, please visit www.cgp.com. About PRIMIS Marketing Group Headquartered in Chicago, IL PRIMIS provides database marketing solutions and information solutions through the AccuData, Hyphos360, MarketModels and CoReg360 brands. Since its inception in 2003, PRIMIS has grown to be recognized as the premier provider of direct marketing solutions to meet the needs of the middle market. For more information, please visit www.primismarketing.com |
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