GTCR Golder Rauner LLC, a private equity firm, announced today it has entered into a definitive agreement to acquire EK Success, a provider of scrapbooking and paper-based craft products.
EK Success is headquartered in Clifton, New Jersey, and has 228 employees. Since its founding in 1978, the company has grown from a distributor of stationery items to a designer, marketer, and distributor of a comprehensive offering of scrapbooking materials, supplies, and tools.
“This is an outstanding investment opportunity for GTCR,” said GTCR Principal David Donnini. “We believe that EK is the premiere platform in the scrapbooking sector and we’re extremely enthusiastic about partnering with such an exceptional management team, led by ceo Chris Skinner. We see significant growth potential in the scrapbooking and broader craft segment.”
“EK’s management team and employees are very excited about the opportunity to partner with GTCR,” said Skinner. “GTCR’s financial support and experience will be invaluable as we continue to capitalize on growth opportunities in the scrapbooking and broader craft segment.”
GTCR Golden Rauner was founded in 1980. The Chicago-based firm’s investment strategy identifies and partners with exceptional executives to acquire and build companies through a combination of acquisitions and strong internal growth. GTCR currently manages more than $6 billion of equity capital invested in a wide range of companies and industries. More information is available at www.gtcr.com.
SOURCE: Craftrends News Digest and Yahoo! Finance
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