BGL Letters with Sale of Neff Motivation

Brown Gibbons Lang & Company announced today the sale of Neff Motivation, Inc., a portfolio company of Linsalata Capital Partners, to Visant Corporation, a leading marketing and publishing services enterprise.  Visant is controlled by affiliates of Kohlberg Kravis Roberts & Co. L.P. and DLJ Merchant Banking Partners.  Terms were not disclosed.

Neff is a leading single source provider of custom scholastic awards and apparel, including chenille letters and achievement awards, letter jackets and other decorated apparel.  Headquartered in Greenville, Ohio, Neff was founded as the Neff Athletic Lettering Company in 1949.  Neff has facilities in Ohio, Georgia and the Dominican Republic.

In 2003, Linsalata Capital Partners, of Mayfield Heights, Ohio, acquired Neff.  Linsalata Capital Partners engaged BGL to market Neff because of BGL’s expertise in the scholastic market.

“We are very pleased with the outcome of this transaction,” Robert Weber, managing director of Linsalata Capital Partners, said.  “BGL demonstrated exceptional skill identifying highly qualified potential buyers and executing an extremely efficient and competitive transaction process.  BGL found a strong partner for Neff and achieved an attractive valuation.”

BGL managing director and principal Andrew Petryk said, “BGL is very pleased to have worked with Linsalata Capital Partners and Neff on this transaction.  Our experience in the scholastic sector and keen knowledge of the middle market positioned us to achieve a very successful outcome for all parties involved in the transaction.  In particular, we are pleased to have helped Linsalata Capital Partners realize significant value in this sale for its limited partners.”

BGL’s transaction team was led by Andrew Petryk and Kevin Sargent.  Linsalata Capital Partners received legal advice from Murad Beg and John McGuire at Calfee Halter & Griswold in Cleveland.

About Linsalata Capital Partners

Located in the Cleveland suburb of Mayfield Heights, Ohio, Linsalata Capital Partners was founded in 1984 and has combined its strong financial capabilities with extensive operational experience to accelerate the growth of middle-market companies. The firm has completed 84 buy-side transactions, totaling more than $2 billion in value. In May 2005, Linsalata Capital Partners closed its sixth and largest buyout fund with $425 million in equity capital, bringing total equity capital raised to $1 billion.

About Visant

Visant Corporation is a leading marketing and publishing services enterprise servicing the school affinity, direct marketing, fragrance and cosmetics sampling, and educational publishing markets. Visant’s scholastic segment provides services related to the marketing, sale and production of class rings and an array of graduation products and other scholastic products to students and administrators in high schools, colleges and other post-secondary institutions.