Private Equity Firm Invests in Direct Marketing Leader SG360° to Fuel Growth
WHEELING, Ill. — December 8, 2016 — ICV Partners, an investment firm focused on middle market companies, has announced its investment in SG360°, a $300 million in annual sales printing and multichannel direct marketing solutions provider based here. SG360° had been majority-owned by the company’s Employee Stock Ownership Plan (ESOP), which was established in 2003. Terms of the transaction were not disclosed.
“SG360°, under CEO Mary Lee Schneider’s leadership, has continued to innovate while driving top- and bottom-line growth," says Willie Woods, president of New York-based ICV Partners. "ICV Partners is delighted to infuse the capital to refinance the company’s ESOP, and we look forward to working with Mary Lee and her team to help SG360° execute its many growth opportunities.”
Mary Lee Schneider agrees that ICV’s focus on successful middle market companies like SG360° makes them an ideal investment partner. "Their capital and their track record in taking companies to the next level will further drive our company forward, setting the stage for SG360°’s next phase of growth and creating new opportunities for our employees and the company overall, through organic growth and acquisitions.
“Our goal remains to expand SG360°’s position as the industry’s go-to provider of integrated direct marketing services. We are dedicated to continuing our record of delivering highly customized, top-quality products to direct marketers who value our innovative, cost-effective solutions" Schneider adds. "Our sales pipeline has never been stronger, and we are very excited about our future as a result of this transformative investment.”
Prior to officially joining SG360° on Dec. 1, 2015, Schneider served from 2012 to 2015 as president and CEO of Follett, the largest provider of education technology, services and print and digital content to both the K-12 and higher education markets. Before leading Follett, she spent 20 years with RR Donnelley, most recently as president, digital solutions and chief technology officer from 2006 to 2012. Earlier at RR Donnelley, she led the Premedia Technologies Group, a global business providing digital production and digital asset management services to Fortune 500 companies.
Upon joining SG360°, Schneider assumed the president and CEO title from Rick Joutras, who moved into the chairman role at the time. But a new board is now be assembled to join the current executive leadership team of Schneider and Woods, SG360° spokesperson Julie Rinard told Printing Impressions. She explained that the private equity firm's capital infusion to acquire the ESOP stake in SG360° also came at a fortuitous time — with the stock market reaching record highs — to enable SG360° to lock in, protect and distribute the retirement funds to all ESOP shareholders.
Founded in 1956, SG360° offers multichannel marketing solutions and services that range from research and strategy to concept and execution, including direct mail, data analytics and fulfillment. Aside from its Wheeling, Ill., headquarters, it has locations in Illinois and also California, Michigan, Minnesota, New Jersey, New York and Texas.
Kirkland & Ellis acted as legal advisor to ICV Partners. Vedder Price served as legal advisor and J.P. Morgan Securities LLC acted as financial advisor to SG360°.