Focus Pointe Global Announces Receipt of Growth Capital
Noel Sitzmann appointed as CEO to focus on Company’s expansion strategy
Philadelphia, PA – May 24, 2012 – Focus Pointe Global (FPG), a leading provider of marketing research data collection, has received a capital infusion from MVC Private Equity Fund, L.P. (MVCPE), a private equity fund managed by the Tokarz Group Advisers LLC (TTGA) and sponsored by MVC Capital, Inc. (NYSE:MVC). Noel Sitzmann has been named CEO to lead a new phase of aggressive growth plans for the Company. The terms of the financing of FPG were not disclosed.
Focus Pointe Global is a marketing research innovator providing cutting-edge technology, facilities and expertise in data collection. The growth capital provided will allow for a focused acquisition strategy to increase market share, expand FPG's locations and accessibility, and provide world-class facilities for the qualitative research needs of its customers. Additionally, the new capital will be used for investment in the Company's technology to deliver enhanced data services, online research study capabilities and advanced recruiting services.
Following the capital infusion, the resulting ownership change will be transparent to customers, as the existing executive management team led by President Laura Livers will remain in place. Tom Bershad, the Company’s founder and former CEO, will remain involved in corporate development.
"After 24 years leading FPG, I am delighted to turn the Company over to such capable leadership that I know will continue to focus on customer satisfaction while uncovering expansion and enhancement opportunities across FPG's offerings," said Tom Bershad, founder and former CEO of Focus Pointe Global.
"Being able to provide unparalleled service during a time of transition is the mark of a great company," said Noel Sitzmann, CEO of Focus Pointe Global. "It is extremely important that all customers are continually served without interruption. While we execute on our future growth strategy, we will continue to deliver the greatest value possible to our customers."
Sitzmann comes to FPG most recently after serving for 11 years as President and CEO of PreVisor, the leading talent management technology provider. His management team will be supplemented with the addition of Peter Cole, who will join FPG as Chief Administrative Officer. Mr. Cole, was formerly the CEO of Harmony Health & Beauty, Inc. (an MVC Capital portfolio company) and, prior to that, Chairman of Frederick's of Hollywood, which he took public in January 2008. Mr. Cole brings extensive experience in global corporate finance and capital markets to FPG.
Sitzmann, Cole and Tokarz have worked together for more than eleven years on several successful business transactions and consolidation strategies of this kind.
"Given Focus Pointe's prestigious brand and reputation, and our confidence in Mr. Sitzmann and Mr. Cole, we see great opportunity in this sector, which is highly fragmented with no clear market leader," said Michael Tokarz, Portfolio Manager of MVCPE. "Going forward, the Company will execute on a consolidation strategy to gain market share as it works towards becoming the sector leader"
About Focus Pointe Global
Focus Pointe Global founded in 1988, is one of the nation’s largest providers of focus group qualitative research, with ten facilities located throughout the U.S., with fielding capabilities in all U.S. cities. Focus Pointe Global recruits a vast array of existing and emerging demographics, including consumers, healthcare professionals, patients and children. FPG is a nationally recognized marketing research company that provides the highest quality facilities available and delivers world-class service to its customers. More information about FPG can be found through www.focuspointeglobal.com or by phone at 215-561-5500.
About MVC Private Equity Fund, L.P
MVC Private Equity Fund, L.P (MVCPE) is a private equity fund managed by The Tokarz Group Advisers, LLC (TTGA) that focuses on control equity investments in the lower middle market across certain industry verticals. For MVCPE’s investor relations, please call 312-380-6000.
About MVC Capital, Inc.
MVC Capital is a Business Development Company traded on the New York Stock Exchange that provides long-term debt and equity investment capital to fund growth, acquisitions and recapitalizations of companies in a variety of industries. For MVC's investor relations, please call 914-510-9400. All media inquiries should be directed to Nathaniel Garnick at 212-687-8080.