The Blackstone Group Has Acquired a Controlling Interest in RGIS

22 Mar, 2007, 01:00 ET from RGIS Holdings LLC

    AUBURN HILLS, Mich., March 22 /PRNewswire/ -- RGIS Holdings LLC, the
 world's largest inventory and retail services company, has announced today
 that an affiliate of The Blackstone Group has agreed to purchase a
 controlling interest in the company. The terms of the transaction are not
 disclosed.
     The current RGIS ownership group will retain a significant stake in
 RGIS post-close. Goldman, Sachs & Co. has committed to provide bank debt
 and mezzanine financing.
     "We are excited to work with our new partners at Blackstone to continue
 to realize and expand upon the vision that in almost 50 years has made RGIS
 the world leader in its market segments with operations in over 25
 countries. We were first approached by Blackstone late last year, and from
 the outset we decided that partnering with them would provide us with
 important advantages that would enable us to fully realize our potential,"
 said CEO Paul Street.
     "RGIS has a tremendous franchise and great growth prospects," said Ben
 Jenkins, Senior Managing Director of The Blackstone Group. "We are
 delighted to partner with the strong management team to extend the
 Company's outstanding track record of quality, reliability and innovation."
     Retail Grocery Inventory Services was founded in 1958, offering grocery
 stores an accurate and economical alternative to in-house inventories.
 Within a few years, the business expanded throughout the Midwest and
 started conducting counts in other retail environments throughout the U.S.
 Today, RGIS has become the largest inventory and retail services company in
 the world, serving local businesses as well as Global 500 and Fortune 500
 companies. Annually RGIS provides over 450,000 counts or more than 1,225
 counts per day for retail clients such as Wal-Mart, CVS, Home Depot, and
 Target.
     The transaction is subject to satisfaction of customary conditions and
 is expected to close in the first half of 2007.
     About RGIS
     RGIS is the global leader in inventory and retail services, with
 substantial reach through 400 offices across North America, South America,
 Australia, Asia and Europe and employs more than 40,000 trained personnel.
 RGIS has nearly 50 years of experience and a track record of excellence in
 delivering inventory services to retailers. Further information is
 available at http://www.rgisinv.com.
     About The Blackstone Group
     The Blackstone Group is a leading global alternative asset manager and
 provider of financial advisory services. The Blackstone Group is one of the
 largest independent alternative asset managers in the world. Its
 alternative asset management businesses include the management of corporate
 private equity funds, real estate opportunity funds, funds of hedge funds,
 mezzanine funds, senior debt funds, proprietary hedge funds and closed-end
 mutual funds. The Blackstone Group also provides various financial advisory
 services, including mergers and acquisitions advisory, restructuring and
 reorganization advisory and fund placement services.
 
 

SOURCE RGIS Holdings LLC
    AUBURN HILLS, Mich., March 22 /PRNewswire/ -- RGIS Holdings LLC, the
 world's largest inventory and retail services company, has announced today
 that an affiliate of The Blackstone Group has agreed to purchase a
 controlling interest in the company. The terms of the transaction are not
 disclosed.
     The current RGIS ownership group will retain a significant stake in
 RGIS post-close. Goldman, Sachs & Co. has committed to provide bank debt
 and mezzanine financing.
     "We are excited to work with our new partners at Blackstone to continue
 to realize and expand upon the vision that in almost 50 years has made RGIS
 the world leader in its market segments with operations in over 25
 countries. We were first approached by Blackstone late last year, and from
 the outset we decided that partnering with them would provide us with
 important advantages that would enable us to fully realize our potential,"
 said CEO Paul Street.
     "RGIS has a tremendous franchise and great growth prospects," said Ben
 Jenkins, Senior Managing Director of The Blackstone Group. "We are
 delighted to partner with the strong management team to extend the
 Company's outstanding track record of quality, reliability and innovation."
     Retail Grocery Inventory Services was founded in 1958, offering grocery
 stores an accurate and economical alternative to in-house inventories.
 Within a few years, the business expanded throughout the Midwest and
 started conducting counts in other retail environments throughout the U.S.
 Today, RGIS has become the largest inventory and retail services company in
 the world, serving local businesses as well as Global 500 and Fortune 500
 companies. Annually RGIS provides over 450,000 counts or more than 1,225
 counts per day for retail clients such as Wal-Mart, CVS, Home Depot, and
 Target.
     The transaction is subject to satisfaction of customary conditions and
 is expected to close in the first half of 2007.
     About RGIS
     RGIS is the global leader in inventory and retail services, with
 substantial reach through 400 offices across North America, South America,
 Australia, Asia and Europe and employs more than 40,000 trained personnel.
 RGIS has nearly 50 years of experience and a track record of excellence in
 delivering inventory services to retailers. Further information is
 available at http://www.rgisinv.com.
     About The Blackstone Group
     The Blackstone Group is a leading global alternative asset manager and
 provider of financial advisory services. The Blackstone Group is one of the
 largest independent alternative asset managers in the world. Its
 alternative asset management businesses include the management of corporate
 private equity funds, real estate opportunity funds, funds of hedge funds,
 mezzanine funds, senior debt funds, proprietary hedge funds and closed-end
 mutual funds. The Blackstone Group also provides various financial advisory
 services, including mergers and acquisitions advisory, restructuring and
 reorganization advisory and fund placement services.
 
 SOURCE RGIS Holdings LLC