FOR IMMEDIATE RELEASE
Richmond, VA – (August 9, 2006) Transact Capital is pleased to announce the sale of Target Sales, Inc. of Germantown, MD (dba Target Distributing) to a subsidiary of Gen Cap America of Nashville, TN. Target Distributing is a distributor of telecommunications products, blank audio, video and data media, and A/V hardware with over 30 years of national experience. The Audio/Video division is a full-line distributor of blank audio, video and computer data media for Sony, Maxell, Fuji and TDK and carries a full line of televisions, camcorders, VCRs and professional portable tape recorders. The telecommunications division carries four different key system lines – Panasonic, Vodavi, NEC, and Comdial and is one of the largest Plantronics Telephone Headsets and Polycom conferencing distributors in the country.
According to Joe Warsaw, Vice President of Target, “We started as a sales rep company for telephone equipment in 1975. As the industry evolved, we evolved. Eventually, we became one of the largest independent telephone equipment distributors in the country. Our success and our great employees attracted a lot of suitors. We are very pleased that Gen Cap has partnered with our management team to take our company to the next level.”
Barney Byrd of Gen Cap America added, “We are very pleased to partner with Michael Momsen and the Target management team to continue the growth and expansion of Target Distributing. We were impressed by Target’s strong market position, revenue growth and skilled team of employees. This acquisition fits nicely with our strategy of investing in solid business models and backing quality management teams.”
According to Transact Capital, “Target’s owners did a great job of building a well-managed, well-positioned company. This combination together with critical mass and strong sales growth presented a very compelling story to multiple buyers. With a strong reputation for success and a focus on long term appreciation, Gen Cap was an ideal buyer.”
Founded in 1985, Gen Cap America (GCA) is a private investment firm headquartered in Nashville, Tennessee. GCA specializes in acquisitions and recapitalizations of middle market businesses. Investment candidates usually have revenues between $5 and $100 million and most are privately held businesses or subsidiaries and divisions of larger corporations. GCA makes investments in established businesses with demonstrated operating histories and quality management teams.
Transact Capital is an independent mergers and acquisitions advisory firm headquartered in Richmond, VA with offices in Roanoke, VA, Lexington, KY, and Orlando, FL. Transact focuses on the needs of small privately held companies with less than $100 million in revenues. With extensive experience in owning, running, or investing in private companies or divisions of public companies, the firm’s principals are able to help many business owners exit their companies or explore other opportunities.
To learn more about Transact Capital, please call Steve Zacharias at 804-323-6868 ext. 102 or send an e-mail to Steve at Steve@TransactCapital.com.