Case Study

Stevenson & Company’s negotiation and deal experience deliver for direct marketing services company who was approached by a private equity buyer.

Client
Jett Services, L.L.C.
Business category
Services –
Marketing Services

Sale background
Our client: Jett Services is a 22-year-old order fulfillment and direct marketing firm that offers its clients literature and premium fulfillment, bulk distribution, direct marketing program development and convention and lead management. Its customers include large pharmaceutical and healthcare companies.

Throughout its history, Jett has developed strong customer relationships and process expertise in the vibrant fulfillment and direct mail services industry.

The buyer: Diamond Marketing Solutions provides end-to-end solutions, from concept to distribution, for consumer and business-to-business direct marketers. DMS’ capabilities are the result of key acquisitions and strategic alliances with companies offering proven expertise in their fields.

DMS clients enjoy the benefits of seamless integration of services and consistent, single-contact program management across key direct marketing disciplines. DMS is a portfolio company of Cardinal Growth, a private equity firm based in Chicago.

Why Stevenson & Company was retained
Stevenson & Company was retained to negotiate the sale when Jett Services was approached by a sophisticated strategic buyer with significant acquisition experience. Jett was seeking an experienced group of professionals that they felt could “level the playing field” during the transaction process.

The Stevenson Advantage
After meeting with Stevenson & Company, Jett Services sensed a great chemistry between the firms which resulted in an excellent working relationship. Stevenson & Company’s negotiation experience and merger and acquisition knowledge allowed Jett Services to negotiate from a position of strength throughout the transaction.

Deal summary and results
Together, Jett Services and Stevenson & Company successfully completed the sale to Diamond Marketing Solutions, including:

• Retention of the founder’s son as company president
• Negotiated price and terms well above client expectations
• Capture of future upside potential of the company with contingent payments based on future sales
• Maintenance of complete confidentiality throughout the transaction process

Client response
After successful completion of the transaction, Founder of Jett Services Lorraine Jetté enthusiastically commented:

“When we met them, we got along so well, I knew that Bob and I could work with them and that was critical…we were extremely pleased in every step of the process and they really are the best in the business!”

Said Bob Jetté:
“The results they were able to give us far exceeded expectations…someday I’ll be an owner of another business and I’ll look to sell another company and I know I’ll be back with Stevenson & Company.”