Janovich
Leads Management-Led Buyout of Etix
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Morrisville,
NC – December 2015 / Newsmaker Alert / Etix
announced Tuesday (December 15) that the company has undergone a management-led
buyout supported by the investment of OFS
Capital Corporation (NASDAQ: OFS) (“OFS”). The buyout was led by Travis
Janovich, Etix founder and newly appointed CEO.
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“I
could not be happier with our decision to partner with OFS,” stated Janovich.
“We feel that the investment will empower the company to expand on its
continued growth and success.”
“We
are thrilled to partner with Travis Janovich (Founder and Chief Executive
Officer) and the entire Etix management team, who have led the Company
through a period of significant growth”, said Peter Rothschild, Managing
Director of OFS. “We look forward to working with the Company as it continues
to increase system sales, expand its end markets and solidify its position
as a market leading ticketing platform. With a larger capital base, we
believe that the Company is well positioned to capitalize on its stellar
reputation within the industry and further accelerate its growth.”
Although
the buyout facilitated a change in management, Janovich states that this
will not change the company’s direction in the ticketing industry. Etix
continues to place focus on technology, marketing and customer service
and looks forward to expanding even further on its incredible foundation.
“As
of December 1, 2015, Etix has seen an overall yearly growth of more than
20 percent,” said Janovich. “In the upcoming years we intend to continue
growing and are confident that the investment will facilitate this growth
and the company’s continued ability to provide exceptional customer service.”
As
a result of the transaction, Joe Kustelski has amicably resigned his former
position as CEO.
Canaccord
Genuity acted as financial advisor to Etix.
About
Etix
Headquartered
in Morrisville, NC, Etix is an international, web-based ticketing service
provider for the entertainment industry, processing more than 50 million
tickets per year in 40 countries. For more information, please visit hello.etix.com.
About
OFS Capital Corporation
OFS
Capital Corporation (NASDAQ: OFS) is a business development company that
provides debt and minority equity capital solutions to middle-market companies.
The firm offers flexible financing to business owners and proven management
teams, helping them achieve targeted growth, liquidity and ownership transition
goals. For more information, please visit www.ofscapital.com.
Primary
Contact:
Stephanie
Ross
Marketing
Coordinator, Etix |