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 FOR IMMEDIATE RELEASE
CONTACT: Christine Wojdyla, Media Relations (267) 322-7003
PHILADELPHIA, PA - September 12, 2006 – Entrepreneur Partners, a Philadelphia-based private equity firm, announced today that its Principals have acquired Magazine Services of America (MSA). Headquartered in southern Florida, MSA is a direct marketer of continuity products and services, including magazine subscription services and club memberships. The acquisition was made through Terramar Media, a newly formed holding company that will serve as the platform for additional acquisitions of direct marketing companies selling continuity products and services. Debt financing for the transaction was provided by CapitalSource. “MSA is one of the strongest telemarketers that we have seen and we perceive significant opportunities to diversify its marketing channels and to expand its product offering,” said Salem D. Shuchman, Managing Partner of Entrepreneur Partners. “I am excited to partner with Entrepreneur Partners to build the business,” said Chris Nelms, founder of MSA and an investor in Terramar Media. “Their expertise in direct marketing will help accelerate our plans to grow the business.” MSA is the first investment arranged by Entrepreneur Partners, which was formed last year to make investments in the direct marketing industry. The principals of Entrepreneur Partners are Salem Shuchman and Bruce Newman. Shuchman was most recently a senior partner at Apax Partners, a global private equity firm. Newman was most recently an Operating Partner at Graham Partners and prior to that, the CEO of The Franklin Mint. About Terramar Media Terramar Media is a direct marketer of continuity products and services, including magazine subscription services and club memberships. MSA is the company’s first acquisition and is expected to be a leader in the continuity products field. For more information about Terramar Media, please visit www.terramarmedia.com. About Entrepreneur Partners Entrepreneur Partners is a Philadelphia-based private equity firm that invests in business-to-business and business-to-consumer direct marketers including catalog, Internet, telemarketing and direct response companies. The partners of the firm include veteran private equity professionals, experienced operating executives and successful entrepreneurs from the direct marketing field. For more information about Entrepreneur Partners, please visit www.entrepreneurpartners.com. About CapitalSource CapitalSource is a specialized commercial finance company operating as a REIT and offering first mortgage, asset-based, cash flow and mezzanine financing to small and mid-sized borrowers through three focused lending businesses: Structured Finance, Healthcare and Specialty Finance and Corporate Finance. By offering a broad array of financial products, CapitalSource had outstanding $10.5 billion in loan commitments as of June 30, 2006. Headquartered in Chevy Chase, Maryland, CapitalSource has a national network of offices across the country and 549 employees. For more information about CapitalSource, please visit www.capitalsource.com. |
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