Los Angeles, CA – Corridor Capital, together with the management and investors of Connecting Point Marketing Group, Inc. (“Connecting Point”, “CPMG” or the “Company”), announced today an investment designed to give the Company more resources to expand their very successful Events business. Connecting Point’s existing investors and team are enthusiastic in welcoming Corridor’s strategic guidance to help to expand the company’s footprint and geographic reach. Mezzanine investor Aldine Capital Partners also contributed equity to the transaction.
Connecting Point is a Rye, NH based producer of business-intensive Events which connect senior level executives for innovation in the food retail, hospitality, specialty retail and healthcare industries. CPMG delivers high impact business experiences for its Event attendees by designing unique, focused and informative agendas customized for each participant and providing a white glove, unparalleled level of service for all to ensure a best-in-class experience. Connecting Point Events are known as the place “where business gets done,” which is evidenced by the regular attendance of the leading national and regional restaurant, hotel and retail chains and healthcare organizations.
Connecting Point was the first to the markets served with their unique format Event model. The Company has grown successfully for more than a decade by listening closely to its attendees and delivering new Events, services and technologies that meet the rapidly evolving needs of the industries it serves. Corridor was impressed with the remarkable satisfaction levels of Connecting Point’s customers and passion of its team members to innovate and deliver unparalleled business experiences. Corridor believes the Company’s strong culture and commitment to continuous improvement is ideally suited to benefit from Corridor’s active form of portfolio company support and engagement. Corridor and CPMG’s management expect to support continued growth at the Company through further investment in sales, marketing and technology resources, as well as entering new markets and service offerings organically and through add-on acquisitions.
“The Connecting Point team does great work meeting the rapidly changing and complex needs of suppliers and senior development, strategy, technology, operations and merchandising executives across multiple industries, yielding terrific value for all Event participants. We are excited to partner with the Connecting Point team who has developed a very special business model in the vast trade show and event marketing industry,” said Corridor CEO, Craig Enenstein. “We look forward to working with management on continuing to add bespoke experiences for their loyal base of attendees.”
“Connecting Point, over the past 12 years, is proud to have developed highly valued forums in multiple sectors and is focused on our team continuing to build on its strong brand, culture of innovation and service, and exciting growth trajectory,” said Nancy Splaine, the Company’s CEO. “We are enthusiastic to pursue our next phase of growth with Corridor given their strategic, operational and financial expertise helping small companies in their growth initiatives.” The investment banking firm Business Capital Exchange and the law firm of Davis, Malm & D’Agostine P.C. advised Connecting Point on the transaction.
TCF Capital Funding, a division of TCF National Bank and a leading provider of financing solutions to growing, middle-market businesses, also provided a senior credit facility in support of the recapitalization and the Company’s planned growth. This is TCF’s second such facility in connection with a Corridor Capital investment. Corridor was represented by Morgan, Lewis & Bockius LLP.