Greens Farms Capital and Landon Capital Partners Invest in iMemories to Take Home Movie and Photo Digitizing to the Next Level
- Investment Group Eager to Lead Next Stage of Growth for Industry-Leading Company -
SCOTTSDALE, Ariz., Feb. 15, 2022 /PRNewswire/ -- Greens Farms Capital LLC and Landon Capital Partners LLC have invested in the high-growth industry of home movie and photo digitizing and storage by partnering with iMemories, the best-in-class leader in the space. The experienced investment group recognized significant market opportunity in joining forces with iMemories, which dominates an industry positioned for impressive growth with more than 8 billion home movies and 1 trillion photos to digitize.
iMemories is an innovative, technology-driven company that converts analog home movie films and videotapes, photo prints, negatives, and slides to a modern digital format, allowing individuals to share their digitized memories with anyone on any type of device. While the company converts analog memories to USB and DVD, the primary service involves making memories available for streaming and storage in the iMemories Cloud. The company is proud to have earned the industry's highest customer satisfaction rating due to its exceptional customer experience, seamless process, high-quality digitization, and impeccable record of safely receiving and returning cherished originals to more than 1 million customers.
"We're proud to partner with Greens Farms Capital and Landon Capital Partners to elevate iMemories to the next level," said iMemories Founder and CEO Mark Rukavina. "There is tremendous potential in our industry, and their involvement will help us capitalize on opportunities, support new growth, and further cement our reputation as the industry leader. Our new investment partners have a successful history of working closely with owner entrepreneurs, and we look forward to the future of iMemories with them on our team."
"This is a significant step for the future of iMemories and an exciting time for our industry," said iMemories President and COO Steve Krell. "This monumental partnership will provide us with the resources to continue innovating and growing for everyone who wants to bring family memories from past generations back to life and preserve new memories for future generations. We're grateful for our new relationship with Greens Farms Capital and Landon Capital Partners, and eager to see where it takes us."
iMemories is highly-differentiated from its competition, providing customers with the ability to easily view their digitized memories on any phone, tablet, computer or TV through the iMemories app. Its modern yet simple approach is unique to the industry and monetized through fees for the digitization service and subscriptions for cloud-based streaming and storage.
"We were immediately interested in iMemories after understanding the immense opportunity in the home movies and photo digitizing sector, and seeing their clear technological advantage over other industry players," said Greens Farms Capital Founder Michael B. Kessler. "They've perfected the process for customers from start to finish and are committed to an extraordinary level of quality and service. We're excited to support the iMemories team in their next stage of growth."
"iMemories has been a consistently strong force in the marketplace, reinventing how consumers preserve and share their most prized possessions – their memories," said Landon Capital Managing Partner Chris Sullivan. "They're essentially the Netflix of family memories, streaming videos and photos on every device, with competitors only offering DVDs to customers. Their innovative, forward-thinking mentality combined with our business expertise should be a winning combination."
Investors Bank provided debt financing for the transaction; Lowenstein Sandler, Latham & Watkins, and Mazars USA advised Greens Farms Capital and Landon Capital Partners, while JEGI CLARITY and Osborn Maledon advised iMemories.
Questions about the new investment partnership can be directed to iMemories founder and CEO Mark Rukavina at [email protected].
About Greens Farms Capital LLC:
Greens Farms Capital LLC ("Greens Farms Capital") is a Westport, CT-based private equity firm backed by Landon Capital Partners that makes control and non-control investments in lower middle market companies. Greens Farms Capital seeks to invest in and build value in established companies engaged in business services, software and technology, and media and marketing services. The firm takes a long-term, partnership-oriented approach to investing and offers structural flexibility to meet the needs of business owner entrepreneurs. The flexible capital solutions provided by Greens Farms Capital are used to finance growth initiatives, add-on acquisitions, and majority and minority recapitalizations. The firm relies on the management teams to make day-to-day operating decisions and supports them with strategic resources to accelerate growth and profitability by leveraging knowledge of best practices, experiences with former portfolio companies and industry contacts. For more information, please visit https://www.greensfarmscapital.com/.
About Landon Capital Partners:
Landon Capital Partners ("LCP") is the direct private equity investment group of the Landon family and its select family office co-investment partners. LCP invests in middle market private equity opportunities primarily in the United States. Their mission is to source, acquire, and manage lower middle market private equity buyouts, targeting opportunities for control equity positions in companies with $5 to $20 million of EBITDA. Preferred LCP investment targets display a high percentage of recurring revenue and strong free cash flow conversion and seek to leverage LCP's flexible approach to partnership and long-term growth orientation. LCP began operations in 2015 and has offices in Boston and London. For more information, please visit https://www.landoncapital.com.
About iMemories:
iMemories has been digitizing analog memories since 2005, and has since come to dominate an industry focused on preserving and sharing a lifetime of memories. They are able to take old home movies on 8mm, Super 8 and VHS, as well as photo prints, negatives and slides, and digitize them with pristine quality so they last for generations to come. Their innovative app allows customers to view and share memories on any device, organize them, and add to them over time. Their customer-centric team is based in Scottsdale, Ariz., where they have digitized more than 35 million memories to date. For more information, please visit https://www.imemories.com.
SOURCE iMemories
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