Both companies are leading providers of products and services to tradeshow management companies and exhibitors. Champion, headquartered in Middleboro, Mass., is the fastest growing national trade show firm in the U.S., providing equipment and services to approximately 375 tradeshows annually. Fern, which has been in business since 1909, is headquartered in Cincinnati, Ohio, and is a leading provider in the regional convention market. Fern serves approximately 750 tradeshows annually.
“Champion and Fern are outstanding brands, with similar reputations for superior capabilities and excellent customer service,” said Art Roselle, a partner at Wachovia Capital Partners. “Both companies will continue to operate independently under their own names. We look forward to working with our new colleagues at Champion and Fern and providing them with additional resources to help grow their companies, deliver improved service to their customers and offer greater career opportunities to employees.”
Mark Epstein, Champion’s CEO, will continue in that role. Mike Cox, currently Fern’s National Sales Manager, will be promoted to General Manager of Fern. George Budig, Fern’s CEO, and Anthony Lestingi, Fern’s Senior Vice President, have agreed to serve as consultants to Fern to help ensure a smooth transition.
“The resources and increased capital from this transaction with Wachovia will bring Champion additional opportunities to grow,” said Epstein of Champion. “We have already established a leading position within the exposition services industry and believe that by joining with Wachovia, we will be able to better serve our customers.”
“We are excited about the opportunities, both professionally and personally, that this transaction will bring Fern employees and the enhanced services it will provide our customers,” said Cox of Fern. “We look forward to a successful and seamless transition with the help of George Budig and Anthony Lestingi.”
About Wachovia Capital Partners
Wachovia Capital Partners is the private equity and mezzanine investing practice of Wachovia Corporation. Wachovia Capital Partners has invested over $3.0 billion since its inception in 1988 and currently manages in excess of $750 million of direct investments. For more information, visit www.wachoviacapitalpartners.com.
About Wachovia
Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers, with retail operations from Connecticut to Florida and west to Texas, and retail brokerage operations nationwide. Wachovia had assets of $511.8 billion, market capitalization of $78.2 billion and stockholders’ equity of $47.9 billion at June 30, 2005. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 13 million household and business relationships primarily through 3,126 offices in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, also serves clients through 699 offices in 49 states and five Latin American countries. The Corporate and Investment Bank serves clients primarily in selected industries nationwide. Global services are offered through 40 offices around the world. Online banking and brokerage products and services also are available through Wachovia.com.
