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Chris Cavanaugh to become Chief Executive Officer of the IMAGINE Group
Chris Cavanaugh to become Chief Executive Officer of the IMAGINE Group 1024 409 IMAGINE

The IMAGINE Group, a leading provider of visual communications, announced today that Chris Cavanaugh will assume the role of Chief Executive Officer and join the Company’s Board of Directors, effective April 14, 2021. This completes a comprehensive succession plan, led by the Board with the assistance of Craig Reese, current IMAGINE CEO. Mr. Reese will remain an advisor to Mr. Cavanaugh and the Board through the end of the year.

“We are pleased to welcome Chris to IMAGINE,” said Rickardo Francis, member of IMAGINE’s Board of Directors and Managing Director at Cerberus Capital Management. “His deep expertise in operations, technology solutions, commercialization, and marketing strategies make him an ideal fit as the Company’s next leader. We are grateful to Craig for setting the foundation for the Company’s transformation and his leadership in navigating the pandemic’s unprecedented business environment.”

Brady Schuck, Managing Director within Goldman Sachs Private Credit and member of IMAGINE’s Board of Directors, added, “We look forward to an exciting next chapter as IMAGINE continues to invest in its business and develop valuable client offerings. Chris is a terrific partner to lead in this phase of growth and innovation.”

Craig Reese, current IMAGINE Chief Executive Officer, stated, “When I first joined IMAGINE, my goal was to establish a transformation plan that would set the Company on a positive, long-term trajectory. I’m proud of the accomplishments we’ve made together towards that goal; the work I came here to do is largely complete. With a new balance sheet, a terrific new equity group, and a highly capable leader in Chris, IMAGINE is ready for the next phase of this transformation.”

Chris Cavanaugh, incoming IMAGINE Chief Executive Officer, commented, “IMAGINE’s customer relationships and ability to deliver visual communications solutions are unparalleled. I’m grateful for the opportunity to bring IMAGINE’s market-leading capabilities and other innovative solutions to meet the evolving needs of customers. I look forward to continuing to meet with the leadership team and employees in the weeks to come as we build out and execute on our plan to accelerate growth, invest in new capabilities, and make an even greater positive impact on our customers. I’m excited to roll up my sleeves with the talented and dedicated IMAGINE team members at my new home base in the Twin Cities and our additional operations in Charlotte, Chicago, and Los Angeles.”

Mr. Cavanaugh brings more than 35 years of experience and has focused his career on creating transformation strategies and engaging clients with innovative solutions to solve complex business challenges. He spent more than seven years in executive roles at the Freeman Company, the world’s largest event service and logistics company, where he contributed to the total transformation of the business as a part of the company’s executive team. Most recently, he served as CEO of NewSkyxr, a business-to-business virtual events platform, and as President of The Collyer Collective, a consulting agency focused on market intelligence and digital transformation. Prior to these roles and his time at the Freeman Company, Mr. Cavanaugh held executive leadership positions as President of Taft and EVP at Jack Morton Worldwide (part of the Interpublic Group of companies), where he worked for 16 years, 10 of which were as Managing Director of their flagship New York Office.

Earlier this year, IMAGINE successfully completed a recapitalization to eliminate more than $450 million in debt and enhanced its capital structure with new investment. IMAGINE is supported by an ownership group led by an affiliate of Cerberus Capital Management, L.P., the Goldman Sachs Merchant Banking Division, and Arbour Lane Capital Management, LP. The Company is now better positioned to support client growth with one of the strongest financial positions in the industry and is set for long-term success.

Chris Cavanaugh to Become Chief Executive Officer of the IMAGINE Group (prnewswire.com)

About IMAGINE

IMAGINE is an industry-leading national provider of visual print communications and experiential marketing solutions. From concept to consumer, IMAGINE partners with companies to realize a better way via teams of trained experts that listen, understand, and move at the speed of change to deliver beautiful pieces that inspire. IMAGINE offers a seamless end-to-end journey including innovative solutions in concepting, pre-media, direct mail, out-of-home, décor, commercial print, location signage, specialty packaging, and fulfillment, backed by state-of-the-art equipment and processes. The IMAGINE family of companies includes IMAGINE Charlotte, IMAGINE Chicago, IMAGINE Twin Cities and IMAGINE Los Angeles/Midnight Oil Agency. Imagine a better way at www.theimaginegroup.com.

About Cerberus

Founded in 1992, Cerberus is a global leader in alternative investing with over $53 billion in assets across complementary credit, private equity, and real estate strategies. We invest across the capital structure where our integrated investment platforms and proprietary operating capabilities create an edge to improve performance and drive long-term value. Our tenured teams have experience working collaboratively across asset classes, sectors, and geographies to seek strong risk-adjusted returns for our investors. For more information about our people and platforms, visit us at www.cerberus.com.

About the Goldman Sachs Merchant Banking Division

Goldman Sachs is one of the world’s leading investors in alternative investments. With over 30 years of experience, we invest in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate, infrastructure, ESG, and absolute-return strategies. Our clients access these solutions through our direct proprietary strategies, customized strategic partnerships, and open-architecture programs. Our alternative investment teams represent over 1,000 professionals, across 31 offices around the world. We leverage the depth and breadth of global relationships across Goldman Sachs to identify investment opportunities, drawing on our firm-wide capital market insights, industry research, and risk management platforms. We extend these capabilities to the world’s leading pension plans, sovereign wealth funds, governments, financial institutions, endowments, foundations, family offices and individuals, for which we invest or advise on over $300 billion of alternative investments.

Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. The Merchant Banking area of the Asset Management Division of Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm’s long-term principal investing activity and. MBD is one of the leading private capital investors in the world with investments across private equity, infrastructure, private debt, growth equity and real estate.

About Arbour Lane

Arbour Lane Capital Management, LP (“Arbour Lane”) is a registered investment adviser focused primarily on opportunistic credit and special situations investments. Arbour Lane leverages its team’s deep experience in various sectors, built over years at both investment banks and primary investment firms, to source and invest in undervalued credit opportunities and special situations in the middle market.

Media Contact Information

Rachel Chesley
FTI Consulting
rachel.chesley@fticonsulting.com

IMAGINE Strengthens Balance Sheet to Drive Growth Plan
IMAGINE Strengthens Balance Sheet to Drive Growth Plan 1024 614 IMAGINE

Through recapitalization, eliminates more than $450 million in debt and enhances capital structure with new investment

Implements new ownership structure with support from investors managed by Cerberus, the Goldman Sachs Merchant Banking Division and Arbour Lane

MINNEAPOLIS, [Jan. 26, 2021] /PRNewswire/ — The IMAGINE Group (“IMAGINE” or “the Company”), a leading provider of visual communications, announced today that it has completed a recapitalization, reducing the company’s debt load from $550 million to $100 million and facilitating new capital investment. With this new financial structure in place, IMAGINE has a stronger, healthier balance sheet that will support its ambitious growth plan to accelerate its leadership position in the industry.

In concert with this transaction, IMAGINE will have a new ownership structure, which will include support from investors managed by Cerberus Capital Management, L.P. (“Cerberus”), the Goldman Sachs Merchant Banking Division and Arbour Lane Capital Management, LP. With this new ownership group, IMAGINE believes it will be well positioned to grow the business, leverage the full strength of IMAGINE’s talented team and invest in new systems, equipment and acquisition opportunities.

“Over the past 12 months, we have been executing on a strategy of significant transformation to best position the Company for long-term success. This transaction represents a critical financial step to support our team’s work and the operational improvements we have made,” said Craig Reese, IMAGINE Chief Executive Officer. “IMAGINE has a bright future ahead and we welcome the opportunity for additional capital to improve our technology, turnaround times, creative service offerings, digital opportunities and print-on-demand capabilities. This new investment, combined with a stronger financial foundation, will give us the support and flexibility we need to succeed against our goals and grow the business.”

Rickardo Francis, Managing Director at Cerberus and newly appointed member of IMAGINE’s Board of Directors, added, “We have been impressed with the IMAGINE team, the strong customer relationships they have built and the Company’s market-leading capabilities. We are looking forward to partnering with the Company as it enters this new phase of growth and innovation. With one of the strongest balance sheets in the industry and an exciting growth plan supported by investments from the new ownership, IMAGINE will be well positioned for continued success.

Reese concluded, “None of this would be possible without the hard work of our team. Though the COVID-19 pandemic has affected each of us, I have seen the IMAGINE team continue to dedicate themselves to our work and our customers – and I want to thank them for everything they’ve done for our company.”

IMAGINE was represented by Paul Weiss as legal counsel and Moelis as financial advisor. The new equity investors were represented by King & Spalding as legal counsel and FTI Consulting as financial advisor.

About IMAGINE

IMAGINE is an industry-leading national provider of visual print communications and experiential marketing solutions. From concept to consumer, IMAGINE partners with companies to realize a better way via teams of trained experts that listen, understand, and move at the speed of change to deliver beautiful pieces that inspire. IMAGINE offers a seamless end-to-end journey including innovative solutions in concepting, pre-media, direct mail, out-of-home, décor, commercial print, location signage, specialty packaging, and fulfillment, backed by state-of-the-art equipment and processes. The IMAGINE family of companies includes IMAGINE Charlotte, IMAGINE Chicago, IMAGINE Twin Cities and IMAGINE Los Angeles/Midnight Oil Agency. Imagine a better way at www.theimaginegroup.com.

About Cerberus

Founded in 1992, Cerberus is a global leader in alternative investing with over $48 billion in assets across complementary credit, private equity, and real estate strategies. We invest across the capital structure where our integrated investment platforms and proprietary operating capabilities create an edge to improve performance and drive long-term value. Our tenured teams have experience working collaboratively across asset classes, sectors, and geographies to seek strong risk-adjusted returns for our investors. For more information about our people and platforms, visit us at www.cerberus.com.

About the Goldman Sachs Merchant Banking Division

Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm’s long-term principal investing activity. MBD is one of the leading private capital investors in the world with investments across private equity, infrastructure, private debt, growth equity and real estate.

About Arbour Lane

Arbour Lane Capital Management, LP (“Arbour Lane”) is a registered investment adviser focused primarily on opportunistic credit and special situations investments. Arbour Lane leverages its team’s deep experience in various sectors, built over years at both investment banks and primary investment firms, to source and invest in undervalued credit opportunities and special situations in the middle market.

 Contact Information

Rachel Chesley

FTI Consulting

rachel.chesley@fticonsulting.com

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IMAGINE Strengthens Balance Sheet to Drive Growth Plan (prnewswire.com)

IMAGINE ranks in Top 5% in PI 350 2020
IMAGINE ranks in Top 5% in PI 350 2020 1024 612 IMAGINE

We are excited to rank in the TOP 5% of printers for 2020. Now in its 37th consecutive year, Printing Impressions Magazine’s annual list of the Top 350 Printing Companies represents the industry’s most comprehensive list of leading print companies in the United States and Canada as ranked by annual sales volume. This demonstrates the ongoing demand for innovative point-of-purchase, visual communications, and experiential marketing solutions and IMAGINE’s leading capabilities in these sectors.

We are once again honored to be named to this list of leading commercial printers and grateful to our valued clients who choose us as their partner. We strive to help them find a better way to deliver innovative visual solutions so they can focus on what they do best – serve their customers.

About IMAGINE

IMAGINE is an industry-leading national provider of visual print communications and experiential marketing solutions. From concept to consumer, IMAGINE partners with companies to realize a better way via teams of trained experts that listen, understand, and move at the speed of change to deliver beautiful pieces that inspire. IMAGINE offers a seamless end-to-end journey including innovative solutions in concepting, pre-media, direct mail, out-of-home, décor, commercial print, location signage, specialty packaging, and fulfillment, backed by state-of-the-art equipment and processes. The IMAGINE family of companies includes IMAGINE Charlotte, IMAGINE Chicago, IMAGINE Twin Cities and IMAGINE Los Angeles/Midnight Oil Agency.  Imagine a better way at www.theimaginegroup.com.