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CHARLESBANK CAPITAL
PARTNERS, LLC INVESTS IN COMPUTER SALES INTERNATIONAL,
INC.
BOSTON, MA, February 5, 2002 - Charlesbank Capital
Partners, LLC announced it has acquired an equity interest
in Computer Sales International (CSI), one of the nation's
largest leasing companies of information technology
equipment. Charlesbank will become the St. Louis-based
firm's first and only institutional equity investor
and the largest non-management shareholder. The funding
will assist CSI in continuing the aggressive expansion
of its business.
CSI recorded $577 million of revenue in fiscal year
2001, reporting its sixth straight year of double-digit
revenue and earnings growth. Founded in 1972, the firm
employs more than 300 people and has over 50 sales representatives
operating across the US, Canada and the United Kingdom.
CSI handles the full range of IT equipment but leases
primarily mid-range CPUs, workstations, printers and
personal computers to large and mid-sized companies
throughout the US, Canada and Europe. The company offers
a customized approach to fit the user's needs and budget
constraints, enabling flexibility in IT planning and
continual access to new technology. Because CSI is an
independent lessor, its customers are able to adapt
solutions incorporating multiple hardware and software
vendors.
"Our independent status and technical expertise
allow us to respond effectively to each customer's needs,
working with premier vendors to attain the best pricing
in new and used equipment," says the firm's Chairman
and CEO, Ken Steinback. "We see a tremendous opportunity
to continue to aggressively grow our business and increase
market share. We take pride in cultivating strong relationships
with vendors and customers and are thrilled to have
raised capital that will help us expand. The experienced
team at Charlesbank will be a valuable strategic resource
as we move ahead."
"CSI's solid historical performance is a testament
to the strength of its business model and management
team," says Kim Davis, Managing Director, Charlesbank
Capital Partners. "The current market opportunity
and the company's robust balance sheet will enable CSI
to grow in excess of historical rates and serve customer
needs even more adeptly than in the past. We look forward
to partnering with this long-tenured, talented management
team as they continue to grow their business."
Further information about CSI can be found on the company's
web site at www.csileasing.com.
Charlesbank Capital Partner, LLC, is a private investment
firm with approximately $2.5 billion of capital committed
to acquisition and expansion financing for growing companies
and developing real estate assets. The private equity
team focuses on middle-market management-led buyouts
and growth capital financings, typically investing $20
million to $75 million per transaction. Charlesbank
seeks to partner with strong management teams and other
value-added investors to build companies that offer
competitive advantages and excellent prospects for growth.
The firm has offices in Boston and New York.
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