NEW YORK, March 1, 2004 (PRIMEZONE) -- BNP Paribas' Private Capital Group today announced the recent completion of an investment in Automated Resources Group, LLC. (ARGI) as part of a private recapitalization of the Montvale, N.J. based company.
A group of investors led by BNP Paribas, and including TSG Equity Partners and Patriot Capital (as mezzanine investor,) has purchased a significant interest in ARGI in anticipation of new growth initiatives, including the possibility of future acquisitions.
ARGI, which completed the acquisition of YellowBrick Solutions, Inc. in July 2003 provides a completely hosted IT, database and application infrastructure with integrated modules for fulfilment, marketing automation, e-commerce, campaign management and data analytics. ARGI clients include businesses and organizations seeking to optimize their customer or subscriber management.
"For the new investors, ARGI represents an opportunity to acquire a well-managed business with a very stable customer base and compelling growth opportunities," said Ed Irwin, Managing Director of BNP Paribas. "We look forward to supporting ARGI as the Company continues to expand its product offerings and customer reach." The terms of the investment remain undisclosed.
As part of the recapitalization, the founder of ARGI, Thomas Amoriello Sr., will become the Chairman of the Board, and Chief Operating Officer, Alex Amoriello, will continue in his role. Richard Ehrlickman, who was recently named Chief Executive Officer of ARGI after a 30-year career with IBM commented, "We are extremely excited to have such a strong syndicate of new partners. These investments give us a solid financial foundation to aggressively drive top line revenue growth, penetrate our target markets, continue to build our customer base, and deliver superior value to our customers."
About ARGI
For over 32 years, ARGI has been providing innovative solutions and superior systems to publishers, direct marketers and non-profit organizations. ARGI's current clients include large and small publishing companies, non-profit organizations, consumer products companies, direct marketing organizations and other entities with databases of customers or subscribers. Further information on ARGI is available at www.callargi.com or (201) 391-1500.
About Patriot Capital
Patriot Capital is a private equity firm focused on providing equity and mezzanine growth capital for small and medium sized companies with revenue between $10 and $200 million seeking to finance business expansion, acquisitions, management buyouts or recapitalizations. Further information on Patriot Capital is available at www.patriot-capital.com or (443) 573-3015.
About TSG Equity Partners
TSG Equity Partners is a private equity firm that invests in growing, smaller middle market companies in the business service, consumer and industrial sectors with revenues of $10 -$100 million. Further information on TSG is available at www.tsgequity.com or (978) 461-9900.
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is a European leader in banking and financial services, with leading positions in Asia and an active presence in the United States. The most profitable bank in the Euro zone, it has a presence in 85 countries with 89,400 employees. The group enjoys key positions in Corporate and Investment Banking, Private Banking & Asset Management, Insurance, Securities Services and Retail Banking. Headquartered in New York, BNP Paribas in North America offers a broad range of corporate, investment banking and securities brokerage activities. As a registered NASD broker-dealer and member of SIPC, BNP Paribas Securities Corp. underwrites, trades and markets a vast array of global and domestic fixed income and equity products.
The Private Capital Group is the private equity arm of BNP Paribas in North America. It seeks to invest in well-managed middle market service or manufacturing companies that need capital for growth, shareholder liquidity and/or recapitalization. BNP Paribas, headquartered in Europe, is currently the tenth largest bank worldwide. For more information call (212) 841-2246 or visit pcg.bnpparibas.com