AIA Sold to McNally Capital
The Riverside Company, former owner of top-50 distributor Adventures in Advertising (AIA), reported today that it has sold the company to McNally Capital. The full press release from The Riverside Company is below:
The Riverside Company has sold AIA Corporation (AIA). Based in Neenah, Wis., AIA provides a wide variety of promotional products and corporate apparel through roughly 300 affiliates in the U.S. AIA's offerings range from branded pens and tote bags to higher-end corporate branded gifts. AIA's independent franchises work with clients to promote brands and build companies' images through creative promotional products and campaigns.
"By providing excellent backend support and innovative sales and marketing ideas for affiliates, AIA was able to attract franchisees to drive growth throughout our hold period, and their excellent service and value helped them retain more than 90 percent of customers on a consistent basis," said Riverside Managing Partner Loren Schlachet.
Riverside invested in AIA in 2005. During the course of Riverside's ownership, AIA significantly grew by developing an industry-leading technology platform to support its affiliates and significantly increasing the size and sophistication of AIA's Affiliate program for individual salespeople and industry distributors. Riverside also completed one add-on acquisition that added customers and capabilities to AIA during the hold.
AIA's growth has been even more pronounced since 2009, as it has doubled its total franchisees and sales affiliates in that time. For the entire Riverside hold period, AIA's employee headcount increased 36 percent, a further testament to the vitality of the company.
"It's been rewarding to help AIA become bigger and better over the past eight years," said Riverside principal Brian Sauer. "AIA has a great management team that shared our goals and worked with us to make AIA thrive."
AIA CEO David Woods enjoyed the partnership with Riverside.