Petra Announces the Sale of InPulse Response Group.NASHVILLE, Tenn. -- Petra Capital Partners announced today that West Corporation has acquired Petra portfolio company InPulse Response Group for approximately $44.5M in cash. The sale of InPulse represents Petra's fourth exit in 2006 and ninth successful exit from its Petra Growth Fund I fund, which has made 16 investments since 1999. Based in Phoenix, InPulse was founded in 1994 to provide direct response marketers an alternative to traditional call centers. Built on a culture of "selling" in contrast to "order taking", InPulse has become a leading provider of outsourced sales solutions to marketers of fitness equipment, personal development, electronics, housewares house·wares pl.n. Cooking utensils, dishes, and other small articles used in a household, especially in the kitchen. , collectibles, and health and beauty products that seek to generate inbound calls from consumers through direct response television, radio and print advertising. Through the use of leading-edge telephony, skilled salespeople, and a pay-for-performance commission structure, Inpluse helps their clients ensure they are maximizing their return on their marketing investments. In July 2002 Petra partnered with Steve Pittendrigh, founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of InPulse, to fund the repurchase of a majority of the company's ownership from a passive corporate investor Noun 1. corporate investor - a company that invests in (acquires control of) other companies company - an institution created to conduct business; "he only invests in large well-established companies"; "he started the company in his garage" . "By staying true to their sales centric culture, Steve and his team at Inpluse built on their leadership position within the direct response industry during the life of our investment delivering outstanding results for their clients, their employees, and their investors" said Rob Smith, a Partner at Petra and InPulse board member. Consistent with its investment strategy of serving as a trusted source of non-control, growth capital to management owned service companies, Petra provided InPulse an attractive alternative to traditional venture capital and control oriented buyout funds at the time of the financing in 2002. "At the time of our recapitalization Recapitalization Restructuring a company's debt and equity mixture often with the aim of making a company's capital structure more stable. Notes: Companies often want to diversify their debt-to-equity ratio to improve liquidity. it was important to me to find a partner that could provide InPulse with the appropriate capital and knowledge to support our growth plans who did not require control" stated InPulse founder and CEO Steve Pittendrigh. "Petra's experience investing in growth companies was evident as they served the company as a trusted advisor on financing and strategic decisions throughout our relationship." Petra Capital Partners Based in Nashville, Petra Capital Partners, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control manages Petra Growth Fund I raised in 1999 which focuses on providing expansion capital in the form of equity and subordinated debt Subordinated Debt A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings. Also known as "junior security" or "subordinated loan". to small growth companies in transaction sizes under $10 million. Petra specializes in identifying exceptional growth companies primarily in service industries with revenue between $5 and $50 million, and partners with management to create value through acquisitions and organic growth. Since 1999, the firm has invested in 16 companies, including United Asset Coverage, Providence Services Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : PRSC PRSC Partido Reformista Social Cristiano (Spanish: Social Christian Reformist Party) PRSC Post-Removal Site Control PRSC Program Resources Steering Council ), Home Solutions of America (AMEX AMEX See: American Stock Exchange : HOM HOM Homomorphism (mathematics) HOM Homing HOM head of mission (US DoD) HOM Hit or Miss HOM Hall of Mirrors HOM High Order Mode (Fiber Optics) ), and CapRock Communications. More information on Petra can be found at www.petracapital.com. InPulse Response Group Founded in 1994 by Steve Pittendrigh, InPulse Response Group is a leading provider of outsourced sales solutions to direct response marketers. InPulse clients include marketers of fitness equipment, personal development, electronics, housewares, collectibles, and health and beauty products that seek to generate inbound calls from consumers through direct response television, radio and print advertising. Once a consumer calls, these clients then entrust InPulse with their most critical task - converting a phone call to a sale. Through the use of leading-edge telephony, skilled salespeople, and a pay-for-performance commission structure, Inpluse helps their clients ensure they are maximizing their return on their marketing investments. More information on InPulse can be found at www.InPulseresponse.com. |
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