Rennhack

Rennhack Marketing Services

Location: Grapevine, TX
Phone: (817) 481-6516
Website: www.rennhack.com
Status: Exited in 2004
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Rennhack Marketing Services is the leading national provider of premium and incentive marketing services to the domestic financial institution industry. RMS establishes, implements and manages incentive merchandise programs for savings banks, commercial banks and credit unions. The Company’s products are used by financial institutions to increase the number of retail checking account openings at each participating branch. RMS’ products are typically brand name merchandise from leading consumer product companies.

Background to the Transaction

RMS was founded in the 1970s and went through a generational transfer from the Company founders to their son, Rick Rennhack, and his business partner, James Gresham, in the late 1990s. Upon their acquisition of the Company, James Gresham and Rick Rennhack instituted a number of initiatives that resulted in significant growth in the Company’s revenue and earnings. In late 2001, James Gresham and Rick Rennhack began to evaluate a recapitalization transaction with an institutional partner that would allow them to realize partial liquidity and also provide capital to support future growth. Brazos was introduced to James Gresham and Rick Rennhack and subsequently engaged in several months of dialogue with them to understand their business, needs and objectives. Through a recapitalization that closed in May of 2002, Brazos was able to structure a transaction that addressed the objectives of the shareholders. James Gresham and Rick Rennhack maintained a significant ownership position in the business and continued in their respective positions at the Company following the transaction.