ImageQuix announces strategic investment from Charlesbank Capital Partners
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RALEIGH, NC, Oct. 11, 2022 (GLOBE NEWSWIRE) — ImageQuix (or the “Company”), a leading provider of workflow and e-commerce software for the volume photography industry high, is pleased to announce that Charlesbank Technology Opportunities Fund, a fund managed by Charlesbank Capital Partners (“Charlesbank”), has made a majority investment in the Company. Charlesbank is an experienced middle-market private investment firm based in Boston and New York. ImageQuix CEO Alex Kovacevic and management will remain shareholders alongside Charlesbank. The funding will help ImageQuix accelerate the expansion of its business both organically and through mergers and acquisitions.
ImageQuix primarily serves schools for their annual photo days, sports photos and senior portraits. It digitizes the photographer’s end-to-end workflow, including capturing and organizing photos, personalization and package creation, as well as follow-up marketing, payment and integration with business partners. execution.
With its unique integration of workflow management and e-commerce capabilities, ImageQuix has pioneered technology adoption in the space during the pandemic, as photography studios transitioned to a fully on line. The company has gained market share thanks to its sophisticated features and its ability to improve the consumer experience and offer a better assortment of products at better prices.
“With ASG as our exceptional partner since 2018, we have experienced impressive growth both organically and with strategic mergers and acquisitions,” said Alex Kovacevic, CEO of ImageQuix. “By expanding the product offering and our great team, we are now a market-leading supplier of high-volume photography software. We are grateful for ASG’s partnership and are excited to write our next chapter of growth with Charlesbank. Their strategic expertise and experience scaling enterprise software companies like ours will be critical as we continue to deliver on our promise to help photo studios of all sizes grow their businesses and deliver outstanding images to their customers.
Mayur Desai, Managing Director of Charlesbank, said, “We believe ImageQuix offers a leading digital delivery and engagement solution for high-volume photography, which makes photographers and consumers happier. We see many opportunities to capitalize on the e-commerce trend and the shift in consumer spending to experiences versus physical products. We look forward to working with Alex and his experienced team to drive continued strategic growth and innovation within the company. »
Steve Reardon, CEO of ASG, added, “ImageQuix has been an incredible company to own and grow, and we are extremely proud of what we have built with this team over the past four years. Alex’s focus on customers and building a top-tier team and product has created a very strong business proposition for ImageQuix and positioned them well to scale even further. We look forward to seeing what this team does in the future and their continued growth with Charlesbank.
Mintz Levin Cohn Ferris Glovsky & Popeo acted as legal counsel to Charlesbank, and Willkie Farr & Gallagher LLP acted as legal counsel to ASG.
About ImageQuix ImageQuix provides end-to-end workflow management and e-commerce solutions for professional photographers. Together, ImageQuix, PhotoLynx and Capturelife provide the tools studios of all sizes need to grow their business, improve productivity and reduce costs, and deliver exceptional images to their customers.
About Charlesbank Capital PartnersBased in Boston and New York, Charlesbank Capital Partners is a mid-market private investment firm with more than $15 billion in capital raised since inception. Charlesbank focuses on management-led buyouts and growth capital financings, as well as opportunistic credit and technology investments. The company seeks to create businesses with a sustainable competitive advantage and excellent growth prospects.
ASG, backed by Alpine Investors, is a unique, fast-growing software company that buys and builds market-leading vertical SaaS companies. ASG strongly believes in the power of people and data to grow great organizations, and that sharing knowledge, expertise and resources within its business community drives exponential growth. Founders of leading SaaS companies continue to trust ASG to grow their businesses and build even stronger legacies for the future.
About Alpine Investors
Alpine Investors is a people-focused private equity firm committed to building sustainable businesses by working with, learning from and developing exceptional people. Alpine specializes in investments in the software and services sectors. Its PeopleFirst strategy includes a talent program that allows Alpine to bring proven leadership to situations where additional or new management is needed after the transaction. Alpine is currently investing on its eighth fund of more than $2.25 billion. For more information, visit http://www.alpineinvestors.com.
Contact:Maura M. Turner617-619-5457[email protected]
Source: Charlesbank Capital Partners LLC