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Charrette Embarks on Acquisition Program, Announces Development Team

Monday, September 16, 2002

Press release from the issuing company

Woburn, Ma. September 16, 2002 -- In a move to maximize and accelerate its growth across the US, Charrette announced earlier this month a new "Focus on Growth Program". Charrette provides large format digital printers, supplies and technical assistance from its 17 sales and distribution centers throughout the United States. Its strategic objective is to significantly increase its sales over the next few years by expansion into new product categories and new geographic markets. "We will continue to increase revenue through organic growth, but as we looked at how to achieve our objectives," said Jack Ford, Charrette CEO, " it became obvious that growth must be achieved through multiple avenues. Major new products are being added and we are expanding into new customer segments. However, we are also looking seriously at growth through acquisition. We are targeting companies that will enhance our existing markets or take us into new geographic regions. The goal is to combine our customer services and product array with the special advantages that another company might have in a specific geography. The result will be even better service to our customers". Charrette was recently acquired itself in July. An investment group comprised of management and Jefferies Capital Partners in New York City acquired Charrette. Jefferies is a private equity firm that specializes in partnering with management in medium size companies with strong growth potential. It encourages growth and continues to invest monies in its businesses. Jefferies Capital Partners manages over $600 million in equity capital and has expressed full support for the Charrette growth initiatives. To identify and develop these acquisition opportunities, Charrette has established a "Strategic Development Team", led by its CFO, Richard Johnson. Johnson will initiate discussion with potential candidates and partners, discuss options and implement the programs. Anyone interested in becoming part of the Charrette family of companies should contact Mr. Johnson or Mr. Ford at growthpartner@charrette.com. All inquiries will be kept confidential.




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