GO3E, LLC Announces 49% Minority Interest
Sale to JPB Enterprises, Inc.
December 2006
GO3E, LLC ("GO3E"), the parent company to Exhibit Effects - East, LLC, a leading provider of retail fixturing and trade show booth marketing solutions; and, Performance Sports, LLC, an independent operator of New Balance concept stores in Central Florida and Hawaii, announced today it has signed an agreement to sell a 49% minority interest to JPB Enterprises, Inc. ("JPBE"), a family-owned investment company located in Columbia, Maryland.
The relationship between GO3E and JPBE strengthens the company's capability to become the leading provider of marketing and display solutions for performance and technical products in our industry. "With its Fortune 500 retail experience, the JPBE Team brings an understanding of our business environment and an appreciation for the potential of our product and service solutions," said Craig Heisner, President of GO3E. "They are making an investment in the brand we have developed and see us poised for rapid profitable growth in the near term."
Joseph Rossi, founder of GO3E, said, "It's my firm belief that JPBE will significantly enhance our ability to continue implementing our original vision for developing a world-class company. There were many buyers interested in acquiring a 49% minority interest in GO3E, but JPBE's cultural and strategic fit, together with its knowledge of our markets was very convincing to me. The leadership of the company will remain intact along with the key components that have been a part of GO3E's success such as operational excellence and unparalleled customer services," added Rossi.
JPB Enterprises is led by J.P. Bolduc, the former President and Chief Executive Officer of W.R. Grace & Co. and former General Partner of Catterton Partners. During Mr. Bolduc's tenure at Grace, the company owned and operated numerous retail and restaurant businesses, including: Herman's Sporting Goods, Berman's Leather, J.B. Robinson Jewelers, Channel Home Centers, Handy Dan, Orchard Supplies, Sheplers Western Apparel; and El Torito's, American Café, Houlihan's, CoCo's and Applebee's. As a General Partner at Catterton, Mr. Bolduc played a key role in the private equity firm's investments in P.F. Chang's, Build-A-Bear Workshops, Baja Fresh, Sutton Place Gourmet Foods and Caribou Café. "We are excited about the opportunity to work with GO3E on their transformation into a world-class player in retail and trade show fixturing," said Mr. Bolduc.
"GO3E provides a wonderful opportunity to take a well-managed company to the next level," said James Bolduc, Vice President of JPBE. "We have a proven track record of building brands and growing businesses such as GO3E into industry-leading companies."
About GO3E
GO3E, LLC is the parent company of Exhibit Effects - East, LLC (dba Triple E) and Performance Sports, LLC. Triple E is a leader in display fixture manufacturing, design, logistics and project management for the retail and trade show industries. It has facilities located in Cleveland, Chicago, Las Vegas and Orlando. Performance Sports is an independent operator of New Balance concept stores in Florida and Hawaii.
About JPBE
JPB Enterprises, Inc. is a premier merchant bank serving the lower middle market in the Mid-Atlantic and Southeastern United States. Founded in 1995 by J.P. Bolduc, JPBE provides a full range of services to lower middle market companies, including private equity (leveraged buyouts and venture capital), real estate development (residential and commercial) and investment banking advisory services. For more information, visit www.jpbe.com .
Media Contact: James R. Bolduc Vice President JPB Enterprises, Inc. 410-884-1960