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Castanea Partners and Weston Presidio Invest in Integrity Interactive Corporation
February 10, 2006 -- Newton, Massachusetts --
Castanea Partners and Weston Presidio today announced their
investment in Integrity Interactive Corporation. Integrity
Interactive is the premier global provider of corporate ethics
and compliance communications solutions in the United States
and Europe. The company offers a comprehensive suite of best
practice solutions to enable companies to meet the increased
standards for corporate ethics programs.
Integrity Interactive’s management team will retain
a significant ownership and interest and continue managing
the company.
“Weston Presidio and Castanea Partners have demonstrated
a unique understanding of our business and will be powerful
allies as we continue to build a great global brand. The partnership
will allow us to further expand and broaden our services to
the hundreds of clients who have chosen Integrity Interactive
as their ethics and compliance partner,” said Carl Nelson,
CEO of Integrity Interactive.
“Brian Knez, Managing
Partner of Castanea Partners, said, “Integrity Interactive
presents a great opportunity that fits well with our investment
and operating experience in information services and training
businesses. The company is a leader and pioneering provider
of high quality content and services for ethics and compliance
programs, and serves the growing demand by corporate customers
for solutions that support risk management strategies. Integrity
Interactive has an experienced and committed management team,
and we look forward to working closely with them and our partners
at Weston Presidio to support the company’s ongoing
success.”
Adds John Berg, Partner of Weston Presidio, “Carl Nelson
and his team have built the preeminent provider of outsourced
corporate ethics and compliance services. This investment
will allow Integrity Interactive to capitalize on future growth
opportunities and continue their tradition of innovation in
compliance services. We are exited to work with the management
team and Castanea Partners to help Integrity Interactive continue
their success and further solidify their position at the forefront
of the outsourced corporate ethics and compliance services
industry.”
About Castanea Partners
Castanea Partners (www.castaneapartners.com)
invests in small to middle market companies in publishing,
education and training, consumer products, specialty retail,
and marketing services. Castanea combines operating and private
equity experience in partnership with management to improve
operating performance and generate growth. Castanea participates
in traditional management buyouts, sales of private companies,
industry consolidation opportunities, growth equity, and troubled
situations. Castanea is currently investing from its second
fund, a $207 million fund that targets companies with enterprise
values between $25 million and $100 million.
About Weston Presidio
Weston Presidio (www.westonpresidio.com),
founded in 1991, provides growth capital to companies across
a wide range of industries and stages of development throughout
the United States and Canada. With locations in San Francisco,
Boston and Menlo Park, the firm is able to provide broad national
coverage. Our experienced team has helped identify, build
and maximize value in over 300 leading growth companies. With
over $3.3 billion under management across all of our funds
and an extensive network of industry contacts, we provide
our portfolio companies with strategic guidance and financial
support. We seek to partner with exceptional management teams
capable of building long-term value.
About Integrity Interactive Corporation
Integrity Interactive (www.integrity-interactive.com)
is the leading provider of web-based corporate ethics and
compliance services to the Global 2000. The company offers
a wide range of training and communication services designed
to deliver a best practice solution to today’s rapidly
evolving ethics and compliance challenges. With a client list
that includes over 275 of the world’s great corporations,
Integrity is a trusted partner of General Counsels, compliance
officers and boards of directors around the world. Integrity
is best known for its signature training course library that
covers over 300 ethics and compliance topics in such diverse
areas as anti-money laundering, antitrust, export laws, and
pharmaceutical sales. Additional service offerings include
an employee whistleblower system, code of conduct certification,
and conflict of interest questionnaires. The company’s
corporate offices are located in Waltham, Massachusetts, with
additional offices in San Francisco, Chicago, London, Paris
and Brussels.
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