CHICAGO and ATLANTA, Jan. 6,
2014 /PRNewswire/ -- Innotrac Corporation (NASDAQ:
INOC) ("Innotrac"), Blue Eagle Holdings, L.P. ("Parent"), and Blue
Eagle Acquisition Sub, Inc., a wholly-owned subsidiary of Parent
("Purchaser"), today announced the successful completion of the
previously-announced acquisition by Purchaser and Parent of
Innotrac. Parent and Purchaser are affiliates of Sterling
Partners, a growth-oriented investment firm with more than
$5 billion of assets under
management.
Following the completion of the cash tender offer for all of the
outstanding shares of common stock of Innotrac at a price per share
of $8.20, Purchaser consummated the
acquisition of Innotrac through a "short-form" merger. In the
merger, Innotrac stockholders that did not tender their shares in
the tender offer will receive the same $8.20 price per share.
Innotrac common stock will cease trading on NASDAQ at market
close on January 6, 2014, and will no
longer be listed.
About Sterling Partners
Sterling Partners is a private equity firm with a distinct point
of view on how to build great companies. Founded in 1983, Sterling
has invested billions of dollars, guided by the company's stated
purpose, INSPIRED GROWTH™, which describes Sterling's approach to
buying differentiated businesses and growing them in inspired ways.
Sterling focuses on investing growth capital in small and
mid-market companies in industries with positive, long-term trends
– education, healthcare, and business services. Sterling provides
valuable support to the management teams of the companies in which
the firm invests through a deep and dedicated team of operations
and functional experts based in the firm's offices in Chicago, Baltimore and Miami.
The people at Sterling believe in ideas and ideals, in people
and partnerships that drive long-term success. For more
information, please visit www.sterlingpartners.com.
About Innotrac
Innotrac Corporation, founded in 1984 and based near
Atlanta, Georgia, is a
best-in-class commerce provider integrating digital technology,
fulfillment, contact center and business intelligence solutions to
support global brands. Innotrac's fulfillment, order
management and contact center solutions are integrated with all
major web platforms, and seamlessly integrate with any required
partner technologies. Innotrac employs sophisticated order
processing and warehouse management technology and operates eight
fulfillment centers and one call center spanning all time zones
across the continental United States. Innotrac Europe GmbH
has a network of fulfillment centers, call centers, and returns
processing facilities with operations in the UK, Germany, France, Denmark, Sweden, Poland, Austria, Italy, Switzerland, Ireland, Spain and the
Netherlands. Connect with Innotrac
at www.innotrac.com or http://www.linkedin.com/company/innotrac.
Media Contact
Samantha
Nelson, on behalf of Sterling Partners
Samantha.nelson@edelman.com
+1 212-704-4589
SOURCE Innotrac Corporation
