Top 20 Distributor Overture Promotions Acquired by Investment Group
An investment group led by Lou Weisbach, former CEO of the distributor now known as HALO Branded Solutions, has entered into an agreement to acquire and partner with Overture Promotions, with a plan to grow the company through expansion of services, capacity and global reach, and by acquisition.
“Overture’s strong management team has ensured that the company responded to the challenges of this difficult year and flourished,” said Weisbach. “The company’s experienced, creative sales team has a diverse client base and a proven ability to retain customers. I believe Overture’s operational proficiency and ability to handle complex projects and customers are unmatched in the industry, as is the way they use technology to manage their business.”
Michael Nemlich and Mark Serdar will join Weisbach on Overture’s leadership team.
“Lou, Michael and Mark bring a wealth of experience to Overture, in promotional marketing, acquisitions, technology and building value,” said Overture CEO Jo Gilley. “The management team is excited to work with them to catapult Overture to the next level, adding strategic new capabilities and services, pushing the technology envelope, and extending our global reach.”
Weisbach was the founder and CEO of HA-LO Advertising Specialties, which eventually became HALO Branded Solutions. In seven years, HA-LO grew revenues from $20 million to $770 million, and the stock market valuation of the company grew from $22 million to $1.25 billion. This year, and together with David Liu of Harvard University, Lou founded Americans Joining Together to Beat COVID-19 Mission.
Serdar was a Managing Director at JP Morgan Chase, where he held multiple senior positions in the firm including chief technology officer and firm-wide head of globalization strategy. He was an executive vice president at Expert Global Solutions, a $1.3 billion business process outsourcing company, and also held management roles at Accenture and Ernst & Young’s Strategic Consulting Group.
Nemlich was the investment banker responsible for taking HA-LO Advertising Specialties public, and shortly thereafter joined the company, where he was responsible for all financial and marketing communications. He was also involved in the acquisition of companies, the structuring of deals and strategic planning.
Westbridge Capital, a minority-led Canadian private equity firm with a history of long-term financial partnerships with stable and profitable businesses, is funding the deal and will fund any future acquisitions.
Overture has seen significant growth over the last few years. In 2019, its promotional products sales grew from $81.6 million from $60.6 million the previous year, an increase of 34.79 percent. That placed Overture at No. 19 on Promo Marketing's 2020 Top Distributors List and made it one of the industry's fastest-growing companies.
For more information on Overture Promotions, visit www.overturepromotions.com.