NovaCopy Management Team Buys Company

NovaCopy, an award-winning provider of print technology and innovative business solutions, has been acquired by its current senior management team with equity financing provided by Trivest Partners, LP, a private investment firm that focuses on founder and family-owned businesses in the Southeast.

Founded in 1999, NovaCopy has been recognized as one of the fastest-growing companies in the United States for more than 10 years and has 11 locations with revenues of $80 million in 2016. NovaCopy has acquired three companies in the past eight months with seven potential acquisitions, in various stages, currently underway.

As part of the recapitalization, NovaCopy provided cash bonuses to long-term employees, which was used by the current NovaCopy senior management team along with equity from Trivest to buy the business from the selling shareholders. As a result, NovaCopy founders Alex Brandon and Carolyn Stafford have retired, while Joe White and Darren Metz participated with 18 other NovaCopy managers in buying the company (see attached photo). Going forward, Metz will remain CEO and the largest individual shareholder along with Joe White, who will continue as President and second largest individual shareholder.

Trivest was selected for private equity financing due to an alignment of shared values including a hands-off approach to portfolio company operations. Jorge Gross, Partner in Trivest, expressed excitement participating with NovaCopy, Inc. in this new chapter of the company’s story.

Chartwell Financial Advisory, Inc. (“Chartwell”), acted as the exclusive financial advisor to NovaCopy. Chartwell was engaged to help NovaCopy choose from more than 30 potential strategic and financial acquirers who had indicated interest in acquiring NovaCopy.

Image: (L to R) Row 1: Kim Johnson, Benny Malicoat, Jon Dreyer, NovaCopy CEO Darren Metz, Jeff Hoctor, Marty Wood, John Sutton Row 2: Joe White, Jorge Gross (Trivest Partners), Melissa Ragsdale, Cameron Rochelle, Carl Pottkotter, Jim Larue, Jonathan Kilton, Daniel Sheppard, Brian Connell (Trivest Partners) Row 3: Andrew Heggem, Matt Shorter, Kristen Riley, Curt Ralph, Trent Stevens, Jason Levkulich

 

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