KRG Capital Partners Completes Recapitalization in OLSON Completes first add-on acquisition for OLSON
DENVER, CO (June 8, 2010) – KRG Capital Partners (KRG), a Denver-based private equity firm, announced today that it completed a recapitalization of Minneapolis-based marketing agency, OLSON. KRG partnered with senior management to assist with the Company’s plans for continued rapid growth as a leading non-traditional agency with strong expertise in the interactive/digital sectors. OLSON also announced that it closed an add-on acquisition with Denali Marketing (“Denali”), a fast growing loyalty marketing agency based in Minneapolis. The OLSON transaction closed in October, 2009 and the Denali transaction closed on May 28, 2010. With the addition of Denali Marketing, OLSON is now one of the top 10 independent full-service marketing agencies in the United States, delivering one of the most comprehensive integrated offerings in the country.
KRG Co-Founder and Managing Director Bruce Rogers remarked, “OLSON represented an attractive investment opportunity for KRG’s Fund IV in one of the Firm’s core top down industries of advertising/marketing services. We believe that OLSON is one of the most compelling advertising/marketing services opportunities that KRG has found since exiting our very successful partnership with Aspen Marketing in February of 2006. OLSON is keenly focused on the newer areas of communication, like social media and digital communication, which we believe will support rapid growth in the future.” Howard Lipshutz, Director of KRG added, “OLSON is a solid platform that will benefit from an aggressive acquisition strategy focused on extending service offerings and geographic reach.”
OLSON is a non-traditional advertising/marketing agency focused on building brand communities through innovative on-line (digital) and off-line methods. OLSON provides brand strategy, advertising, interactive marketing, social networking, design services, public relations and media buying and planning services to a blue chip list of highly regarded brand name clients. Denali Marketing is a rapidly growing “loyalty” marketing agency also located in Minneapolis. Denali’s core expertise is the development and management of loyalty marketing programs. The combination of OLSON and Denali creates a more robust service offering to leading brand name clients focused on building strong customer bases and then retaining customers through loyalty marketing programs.
“We believe there’s pent-up demand for a single full-service firm that can deliver the finest insight, ingenuity and accountability in a user-friendly package. That’s the promise of this deal,” says John Olson, Founder and Chairman, OLSON. “Denali Marketing is one of the fastest rising stars in the loyalty arena, and best aligned to be our partner moving forward. Together, we will take community building full-circle, offering clients world-class communications from mass awareness to one-to-one consumer relationships.”
“This is a perfect melding of art and science in a way that’s never been done before. Together, we combine the left and right brain, bringing the whole mind to our clients,” says Mark Lacek, Co-Founder and Managing Partner of Denali Marketing. “Joining forces with OLSON allows us to offer clients exceptional capabilities and opportunities.”
Founded in 1996, KRG is a Denver-based private equity firm with over $4 billion of capital either deployed or available for future investment, which includes approximately $723 million deployed since inception on behalf of equity co-investors. KRG specializes in acquiring and recapitalizing unique and profitable middle-market companies. The firm seeks investment opportunities for its partners where KRG can work in concert with owners and operating managers who are committed to expanding their companies and becoming industry leaders. The result is a partnership that focuses on creating a significantly larger enterprise through a combination of internal growth and complementary add-on acquisitions. Since inception, KRG has invested in 37 platform companies and has completed 103 add-on acquisitions for those platforms. More information on KRG is available at www.krgcapital.com.
Media Contact Information:
Bruce Rogers, Managing Director
Howard Lipshutz, Director
Colton King, Principal