FOR IMMEDIATE RELEASE
JH Partners and Management Recapitalize AmeriMark Direct
SAN FRANCISCO, CA - March 18, 2005 -- JH Partners LLC, a private equity firm based in San Francisco, announced its participation with management in the recapitalization of AmeriMark Direct, a 36-year-old Cleveland-based leading direct marketer of women's apparel, cosmetics, jewelry and health-related products.
Gary Giesler, AmeriMark's chairman and former controlling shareholder, will continue as chairman and chief executive officer. Members of senior management will remain investors in the company.
"AmeriMark is a well-established company with a solid customer base and innovative marketing strategies," said John Hansen, President of JH Partners. "The company's broad merchandise offerings are targeted toward an attractive customer. We look forward to working with Gary and his team."
"AmeriMark's new partners will be especially valuable during this next stage of our company's growth, as we add new catalogs and broaden our customer base," said Giesler. "The team at JH Partners knows the direct marketing business well, and has a strong track record of working with management teams to deliver durable equity value."
AmeriMark is the latest in a series of investments JH Partners has made in direct marketing companies. JH Partners is also an investor in CHEF's Catalog, a marketer of top-quality cooking equipment, which it acquired from The Neiman Marcus Group, Inc. in November 2004. Previously, JH Partners also invested in Walter Drake, a Colorado Springs-based general merchandise catalog company that it sold in December 2003.
About AmeriMark
AmeriMark Direct is a leading direct marketer of women's apparel, name brand cosmetics and fragrances, jewelry, watches and accessories, and health related merchandise. AmeriMark sells its merchandise through several distinctive catalogs, which include: Anthony Richards, Beauty Boutique, Complements, Healthy Living, Windsor Collection and its most recently launched titles Essentials and Time for Me. AmeriMark also offers memberships in the Passport to Savings and Passport to Health discount buying programs. In business for over 36 years, AmeriMark ships millions of packages to its satisfied customers each year.
About JH Partners LLC
JH Partners is a San Francisco-based private equity firm focused on investments in growth-oriented middle market consumer products and services companies. The firm distinguishes itself among private equity firms in that each of its principals has senior-level operating experience building middle-market consumer related businesses. JH Partners has been instrumental in aiding the growth of powerful consumer brands, including Peet's Coffee & Tea (NASD: PEET), Bare Escentuals, Performance Bicycle Shop, Bell Helmets, and Design Within Reach (NASD: DWRI), among others. Additional information may be found at www.jhco.com.
Contact:
JH Partners LLC
Pat Collins
415-364-0318
Abernathy MacGregor Group
Dan Hilley/Ian Campbell
213-630-6550
