Investment Group Led By Lou Weisbach To Acquire Overture Promotions
An investment group has entered into an agreement to acquire and partner with Waukegan, Illinois, distributor Overture Promotions (PPAI 288541, D11). The investment group, led by Lou Weisbach, the former CEO of what is now distributor HALO Branded Solutions, plans to grow the company through expansion of services, capacity and global reach, and by acquisition.
Overture has a reported 34.79-percent sales increase from 2019, and is forecasting revenue at $125 million for 2020, up from $82 million in 2019.
“Overture’s strong management team has ensured that the company responded to the challenges of this difficult year and flourished,” says Weisbach. “The company’s experienced, creative sales team has a diverse client base and a proven ability to retain customers. I believe Overture’s operational proficiency and ability to handle complex projects and customers are unmatched in the industry, as is the way they use technology to manage their business.”
Weisbach, Counselor’s Person of the Year in 1996, founded what was then known as HA-LO in 1972, although he is no longer affiliated with the company and it is not involved in the Overture Promotions acquisition. Since then he has been involved in several other initiatives. Recently, together with David Liu of Harvard University, he founded Americans Joining Together to Beat Covid‐19 Mission.
Michael Nemlich and Mark Serdar will join Weisbach on Overture’s leadership team. Nemlich was an investment banker involved in taking HA‐LO Advertising Specialties public, and shortly thereafter joined the company, where he was responsible for all financial and marketing communications. Serdar was a managing director at JP Morgan Chase, where he held multiple senior positions in the firm including chief technology officer and firm‐wide head of globalization strategy.
“Lou, Michael and Mark bring a wealth of experience to Overture, in promotional marketing, acquisitions, technology and building value,” says Overture CEO Jo Gilley. “The management team is excited to work with them to catapult Overture to the next level, adding strategic new capabilities and services, pushing the technology envelope and extending our global reach.”
Westbridge Capital, a minority‐led Canadian private equity firm with a history of long‐term financial partnerships with stable and profitable businesses, is funding the deal and will fund any future acquisitions.