VESTCOM/CORNERSTONE MERGER CLOSES
WEST CALDWELL, NJ - November 15, 2002 - Vestcom International, Inc. (Nasdaq: VESC), a leading provider of business communications solutions and marketing services, announced today that the merger transaction with Vector Investment Holdings, Inc. and Vector Merger Corp. (two entities formed by Cornerstone Equity Investors IV, L.P.) has closed. In accordance with the merger agreement, Vestcom shareholders (other than certain members of management) will receive $6.25 in cash for each of the issued and outstanding shares of Vestcom common stock they owned at the time of the merger.
As a result of the merger, beginning Monday, November 18, 2002, Vestcom's common stock will no longer be publicly traded.
Brendan Keating, Vestcom's President and Chief Executive Officer, said: "We are pleased by the successful consummation of the merger and want to thank our public shareholders for their support. We look forward to continuing to provide high quality services to our customers."
Stephen Larson, a Managing Director of Cornerstone Equity Investors, said: “Cornerstone is very enthusiastic about the prospects of the Company. We look forward to working with the Company’s management team to grow the business through expanding its existing blue-chip customer roster and capitalizing on the Company’s numerous market opportunities.”
Vestcom International, Inc. is a leading provider of business communications solutions, customer relationship management and retail marketing services, using technology and innovation to supply enhanced value to all phases of communications between businesses and their customers. Vestcom employs approximately 1,000 individuals and serves customers throughout the U.S. and Canada. More information about Vestcom and its services can be found on its home page at www.vestcom.com.
Cornerstone Equity Investors, LLC is one of the largest and most experienced private equity firms in the United States. Since 1984, the professionals of Cornerstone have raised over $1.2 billion in committed capital. Cornerstone focuses on lower middle market leveraged buyouts of corporate divisions, closely held private companies and micro and small capitalization public companies in the business services, consumer, healthcare and technology manufacturing industries. For more information, please visit www.cornerstone-equity.com.
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