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June 10, 2008 -
Generation Partners, a $325 million private investment firm, announced the sale of High End Systems, Inc. to Barco n.v. (NYSE Euronext Brussels: BAR), a global technology company which designs and develops visualization products for a variety of selected professional markets. High End Systems is a leading global provider of automated luminaires, digital lights and digital lighting controls sold primarily to the media and entertainment industries. Generation acquired High End in 1998 and was the company's controlling shareholder.
Now entering its fourth decade, High End is one of the world's largest entertainment lighting manufacturers and is a pioneer in new digital lighting technology and a producer of the industry-preferred lighting controller technology. High End's lighting products and control systems illuminate some of the world's biggest artists on the largest stages, as well as film and television studios, cruise ships, corporate events, theme parks, churches, restaurants and retail spaces.
"High End has been a highly successful investment for our firm", commented Mark Jennings, Managing Partner at Generation Partners. "During the period of our ownership, High End grew to become the leader in its industry and has become a key player in the convergence of lighting and video technologies." John Hawkins, Managing Partner, added "the sale of High End to Barco creates a powerful combination which will undoubtedly expand and solidify High End's leadership position."
"Generation has been an outstanding partner for us over the last 10 years - they have a long term perspective and have been very active in helping us build High End into the strong position we are in today", said Frank Gordon, CEO of High End. Merritt Belisle, Chairman, added "they have been a key part of our company's success through strategic guidance, business development, financial advice and technology expertise. We're thrilled to be combining with Barco and are thankful for Generation's support in moving to this new exciting phase for High End."
Stephan Paridaen, President of Barco's Media and Entertainment Division said "we are proud and excited to be joining forces with the leading player in the digital lighting market. High End's differentiated product line up and recent product introductions are clearly proof of their market-led vision and strong R&D focus. We look forward to introducing many new and exciting products into the converged lighting/video space together."
About Generation Partners
Founded in 1996, Generation Partners is a private investment firm with $325 million of capital currently under management. Generation provides equity capital to growth companies through buyout, growth equity, and venture capital investments. Generation was founded to create a more "forward-looking" investment firm by combining extensive experience in growth-oriented private equity investments with information technology expertise. This remains the foundation of our firm as we seek out businesses that are using technology to lead change in their industries. We target equity investments of $5 to $30 million and pursue both majority and minority equity positions in growth companies at various stages of development. The firm invests in three broadly-defined industry areas: Business, Information & Consumer Services; Media, Communications & Entertainment Media; and Healthcare Services & Technology. Some of Generation's portfolio companies include: Hotjobs, thePlatform for Media, Sterling Infosystems, Virtual Radiologic Corp., MedVance Institute, Demand Media, iCrossing, Promatory Communications, ShopWiki and American Cellular Corp. The firm has offices in Greenwich, CT and San Francisco. For more information on Generation Partners, please visit www.generation.com.
About High End Systems
High End Systems is a leading global provider of automated luminaires, digital lights and digital lighting controls sold primarily to the media and entertainment industries. Now entering its fourth decade, High End is one of the world's largest entertainment lighting manufacturers and is a pioneer in new digital lighting technology and a producer of the industry-preferred lighting controller technology. For more information on High End Systems, please visit www.highend.com.
About Barco n.v.
Barco, a global technology company, designs and develops visualization products for a variety of selected professional markets. Barco has its own facilities for Sales & Marketing, Customer Support, R&D and Manufacturing in Europe, North America and Asia Pacific. Barco (NYSE Euronext Brussels: BAR) is active in more than 90 countries with about 3,600 employees worldwide. Barco posted sales of euro 747 million in 2007. For more information on Barco, please visit www.barco.com.
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