Friend Skoler Announces Investment in Box Studios
SADDLE BROOK, NEW JERSEY, May 8, 2007 -- Friend Skoler & Co., Inc., a private equity firm that invests in leading companies in the smaller end of the middle market, announced today that it has completed an investment in Box Studios. Box is the preeminent provider of high-end digital imaging services for professional photographers, publishers and corporate advertisers. Box founder and CEO Pascal Dangin will continue to lead the Company.
Founded in 1995 by Pascal Dangin, Box is well regarded as the pioneer of digital retouching and digital post production services. The Company’s expertise in image management, retouching and color correction has enabled Box to establish itself as one of the largest and most recognized brands in the digital imaging industry. Box’s services include scanning, image retouching, prepress, archiving, and art exhibition and publication. The Company also provides on-site digital capture services for professional photographers through its Boxwork division; and recently established the Box Creative Services division through the acquisition of Lux Creative Services in September of 2006.
“We are excited to be investing in Box and partnering with Pascal,” said Alexander Friend, a Managing Director of Friend Skoler & Co. “Box has established itself as the leading digital image retouch studio by providing its clients with unmatched quality, innovation and service. This is a special Company led by extremely talented people, and we look forward to working with Pascal and his management team to support their continued growth.”
Pascal Dangin, founder and CEO of Box, added: “I could not have found a better partner than Friend Skoler. Their team demonstrated a thorough understanding of our business and our culture, and I am excited to have them by my side.”
Deerfield Capital Management led the debt financing for the transaction and also made an equity investment in the Company. The Box investment is the sixth platform transaction by Friend Skoler Equity Investors, L.P., which closed in April 2004 with $231 million of capital commitments.
About Friend Skoler & Co., Inc.
Founded in 1998, Friend Skoler & Co., Inc. is a private equity firm that invests in leading companies in the smaller end of the middle market in partnership with management. FSC focuses on companies with enterprise values generally between $20 and $150 million, typically providing equity capital of $10 to $40 million per investment. Headquartered in Saddle Brook, NJ, Friend Skoler manages Friend Skoler Equity Investors, L.P., a private equity fund with $231 million of capital commitments. For additional information, please visit www.friendskoler.com.
About Box Studios
Headquartered in New York, NY, Box is the preeminent provider of high-end digital imaging services for professional photographers, publishers and corporate advertisers. The Company’s services include digital retouching, prepress, creative production and on-site digital image capture for professional photo shoots.
For additional information, contact:
Dean Bosacki
Friend Skoler & Co., Inc.
201.712.0075