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Talisman Capital Partners Acquires Interest in Turning and Responsive Innovations
New Investment will Facilitate Continued Growth and ExpansionJune 22, 2006, Youngstown, OH – Turning Technologies, LLC, a leader in the audience response industry, and Responsive Innovations, LLC, a leader in the manufacture of wireless response devices, today announced their partnership with Talisman Capital Partners (“Talisman”). In order to position the companies to capitalize on their tremendous growth prospects, Talisman and senior management have lead a recapitalization of the companies and combined their interests in a new entity, Turning Tech Holdings, LLC (“Turning”).“This substantial new investment in our business is about taking Turning through the next major stage of growth”, stated Mike Broderick, Turning’s CEO. “The experience of Talisman management with high-growth businesses combined with the industry leading experience and skills of our top management team are the ideal combination to accelerate our already remarkable organic growth and facilitate a much broader expansion strategy as well. This new partnership will be very good for our company and for Youngstown, Ohio.” “We are excited about working with Turning’s management team and participating in the next phase of growth in the audience response industry” said Michael Scott, President and Managing Partner of Talisman. “We seek businesses with well-defined industry niches and proven profitability models in stable and growing industries. With Turning’s superior audience response system software and hardware and strong management team, we feel that Turning fits our criteria and has the potential to accomplish great things.” ContactKiesha Castaneda info@turningtechnologies.comMarketing Analyst 330-746-3015 ContactMichael Scott mscott@talismancapitalpartners.comPresident and Managing Partner 614-790-9070 About Talisman Capital Partners, LLC Talisman is a Dublin, Ohio, based private equity firm. Talisman invests with management teams in acquisitions, recapitalizations and industry consolidations of middle-market companies. Talisman’s capital originates from individual entrepreneurs. As a result, Talisman’s investment horizon and objectives are different from most institutional funds. Most importantly, Talisman is focused on value creation rather than pre-programmed “liquidity events”. Talisman’s objective is to be a valued partner to management teams that seek to build significant shareholder value. About Turning Technologies, LLC and Responsive Innovations, LLC Turning Technologies, LLC develops interactive response systems utilizing the latest software and hardware tools available and transforms them into state of the art applications for audience response. The company’s flagship product, TurningPoint® Software and Responsive Innovations ResponseCard® (Keypads), integrate with Microsoft’s PowerPoint® software, providing the most advanced combination of knowledge and technology currently available in the field of audience and student assessment. For more information, please visit Turning Technologies at www.turningtechnologies.com. See all press releases... |
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