FOR IMMEDIATE RELEASE
Merilee Kern, Kern Communications, 858-577-0206
June 11, 2013 07:30 ET
Industry-Leading Internet Retailer CableOrganizer.com Acquired, New CEO Appointed
KT Capital Partners, LP and CapitalSouth Partners Funds Acquire Award-Winning eTailer CableOrganizer.com, Names Former Logitech CEO, Jerry P. Quindlen, as New Company CEO
FORT LAUDERDALE, FL--(Marketwired - Jun 11, 2013) - Industry leading eTailer CableOrganizer.com (www.CableOrganizer.com), an industry-leading online retailer of electrical, telecom/datacom/networking, home theater, cable and wire management products, today announced the majority stake investment/acquisition by KT Capital Partners, LP and CapitalSouth Partners Funds. The company concurrently announced the appointment of new company CEO, Jerry P. Quindlen, who previously served as president and CEO of Logitech. Both company co-founders, Valerie and Paul Holstein, former CEO and COO, respectively, will retain a minority ownership position in the new company.
"CableOrganizer.com has been in business over 11 years and has enjoyed sustained, record-breaking double digit growth and strong vendor relationships, even throughout the economic downturn that adversely affected the retail industry at large in recent years," Paul Holstein notes. "The fresh and broader depth of experience and expertise brought in by KT Capital Partners and CapitalSouth Partners Funds, coupled with the broad leadership and operational experience of the new company CEO Jerry Quindlen, will help CableOrganizer.com establish, sustain and elevate its position as a leading online retailer in all applicable product categories, including all telecommunication, low voltage, networking and server room supplies. In turn, KT Capital Partners and CapitalSouth Partners Funds benefit from a thriving eCommerce company with an aggressive growth trend."
KT Capital Partners, LP is a leading private investment firm which invests in stable, established, and growing companies. KT Capital invests in both existing and new management teams and assists in the growth and development of its company investments. CapitalSouth Partners was founded in 1998 to provide private equity and mezzanine capital to lower middle-market companies. Since its inception, CapitalSouth has invested in over seventy companies. Through multiple committed funds, CapitalSouth actively seeks to invest in lower middle-market companies located throughout the U.S.
Prior to joining CableOrganizer.com, in addition to serving as the president and chief executive officer of Logitech, Jerry Quindlen was a member of Logitech's Board of Directors. Mr. Quindlen joined Logitech after a lengthy career with the Eastman Kodak Company, where he served in a variety of sales, marketing, and international management roles. He currently also serves on the Advisory Board to Overnear, Inc., a California-based social media company.
"CableOrganizer.com is a tremendous entrepreneurial success story due to the vision and drive of Paul and Valerie Holstein," Quindlen said. "This acquisition will allow the company to accelerate its already strong growth rate. The shift will maximize customer satisfaction and vendor relations in key areas, such as more on time deliveries, better price, broader product selection, additional expert advice, longer phone support hours, more generous credit terms, and other such service-driven enhancements, while also allowing the company to more effectively compete in a broad range of categories to become the most comprehensive, one-stop online product purveyor in the industry."
Founded in February 2002 and headquartered in Fort Lauderdale FL, CableOrganizer.com is a leading eTailer of electrical, telecom/datacom/networking, home theater, cable and wire management products. The company provides companies, organizations and individuals around the globe with 24/7/365 access to an extensive array of high-quality products and information resources through its convenient online storefront. Among other honors, multiple times CableOrganizer.com has been named among Inc. Magazine's Inc. 500/5000 and Internet Retailer magazine's "Top 500." The company also earned a Stevie® Award as the "Best Overall Company of the Year - Non-Services Businesses - Up To 100 Employees."