SOURCE: Wexler Video, Inc.

March 01, 2007 17:40 ET

Former Broadcast Executives, Backed by H.I.G. Capital, Acquire Wexler Video, LLC, the Leading Video Production Equipment Rental Company in Hollywood

BURBANK, CA -- (MARKET WIRE) -- March 1, 2007 -- H.I.G. Capital, a leading Miami-based private equity firm, in conjunction with Telecorps Holdings, Inc., announced today the acquisition of Wexler Video, LLC, from Founder Bob Wexler. Wexler Video is the leading digital video production and postproduction equipment rental company in Los Angeles.

Elliot Maluth, Managing Director of H.I.G. Capital's San Francisco office, comments, "H.I.G. is very excited to be partnering with Telecorps in the acquisition of Wexler Video. Wexler has a great brand name, and is uniquely positioned in the media equipment marketplace. With the help of Telecorps, we believe Wexler has tremendous growth potential."

H.I.G. Capital is backing Telecorps Communications, comprised of three former broadcasting and media technology executives. Telecorps includes Rob McConnell, former CEO of Enterprise Software, David Carfolite, former VP and General Manager of a group of television stations in the Carolinas, and James Rosenfield, former President of CBS Television Network.

"Telecorps is excited about teaming with Wexler, a company which has assembled a superior staff and reputation in the industry. Wexler will be an important platform for building a more extensive presence in serving both the production and postproduction segments," said Rob McConnell, Chief Executive Officer for Telecorps Communications.

Wexler Video, founded in 1984, is the leading provider of production and postproduction equipment and related services to the television industry. Wexler has provided production and post equipment to all types of productions including reality programming, scripted productions and live events worldwide. Wexler specializes in providing traditional broadcast solutions as well as rapidly developing digital and high definition production technology.

Chris Thompson, Wexler President & CEO, comments, "Our acquisition by Telecorps presents tremendous opportunities. We will continue to provide the best value proposition in the industry combined with the horsepower to offer new services and products across the entire entertainment spectrum. Our staff and customers couldn't be happier as our ability to tap into new financial and managerial resources has increased exponentially. It is a great time to be at Wexler."

About H.I.G. Capital:

H.I.G. Capital, LLC is a leading private equity and venture capital investment firm with more than $3 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, and San Francisco, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well-managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding, H.I.G. has completed in excess of 70 transactions. The firm currently has a controlling interest in more than 40 companies with combined revenues in excess of $5 billion. For more information, please refer to the H.I.G. website at http://www.higcapital.com.

About Telecorps Communications:

Telecorps Communications is an acquisition company focused on acquiring service companies to the media and entertainment industries. Telecorps is comprised of industry veterans; the founders have over 120 years of experience in media and media technology. Its executives include Robert F. McConnell, CEO, with over 35 years of operating and executive management experience in the broadcast and technology sectors, serving most recently with Encoda Systems, and many years with McGraw-Hill Broadcasting. David W. Carfolite, EVP, has 32 years of sales and operations experience with McGraw-Hill, Ellis Communications and Clear Channel Communications and was most recently the VP General Manager of WSFX Wilmington, NC and WFXB Myrtle Beach, SC. Jim Rosenfield, Senior Advisor, has been President of the CBS Television Network, Chairman and CEO of John Blair Communications, and a past Chairman of the Advertising Council, President of the International Radio and Television Society, and a lifetime fellow of the International Council of the National Academy of Television Arts and Sciences. http://www.telecorps.com

About WEXLER

Wexler Video was founded by Bob Wexler and has been in business for more than 25 years. Wexler offers one of the nation's largest inventories of broadcast equipment and provides the highest level of customer service and engineering expertise. Wexler is the only rental house to offer collaborative workflow solutions for every phase of production. Wexler is strongly committed to new technology investment and is a known innovator of such creations as microwave signal transmission and infrared cameras: supplying and supporting equipment for prestigious projects around the globe. For more information, please contact Jennifer Toso, Sales & Marketing Manager at 818.846.9381 ext 129 or refer to the Wexler website at http://www.wexler.tv.

Contact Information

  • For more information, please contact:
    Jennifer Toso
    Sales & Marketing Manager
    818.846.9381 ext 129
    http://www.wexler.tv