JOSTENS ANNOUNCES $640 MILLION DIVIDEND RECAPITALIZATION 
 
 
   PR Newswire 
 
 
   LOS ANGELES, Nov. 12, 2024 
 
 
   Koch Equity Development invests $450 million, will own minority stake in 
the business 
 
 
   LOS ANGELES, Nov. 12, 2024 /PRNewswire/ -- Platinum Equity portfolio 
company Jostens today announced a nearly $640 million recapitalization 
in connection with a $450 million strategic equity investment from an 
affiliate of Koch Equity Development LLC ("KED"), the principal 
investing and acquisition arm of Koch, Inc., and a debt refinancing 
transaction. The KED equity investment is subject to consummation of the 
debt refinancing. 
 
 
   Proceeds will fund a distribution to Jostens' existing equity 
holders and KED will own a minority stake in the business. 
 
 
   "We are grateful for the passion and commitment of our talented 
employees that have established Jostens as a leader in the student 
commemoration market and helped make the company an attractive 
investment partner," said Jostens CEO Michael Burgess. "We are excited 
to continue bringing innovative products, services and experiences to 
educators and students that champion a culture of belonging, achievement 
and pride." 
 
 
   Headquartered in Minneapolis, Jostens is the nation's leading provider 
of custom class jewelry, graduation products, and yearbooks serving the 
K-12 and college education markets. 
 
 
   "Jostens has earned the trust of its customers and partners in local 
communities across the academic ecosystem for more than a century," said 
Platinum Equity Co-President Louis Samson. "The company's embrace of 
digital transformation, innovation and direct-to-consumer strategies in 
recent years has spurred new momentum. We appreciate KED's confidence in 
Jostens and in the company's prospects for sustained success." 
 
 
   Under Platinum Equity's stewardship, Jostens has overhauled systems and 
processes, invested in state-of-the-art equipment, launched new product 
offerings and navigated challenging periods of uncertainty. 
 
 
   "We have worked closely with Michael and the Jostens management team to 
deploy the full range of our toolkit in service of the company and its 
customers," said Platinum Equity Managing Director David Glatt. "We 
believe these transformative efforts have primed the business for 
accelerated growth." 
 
 
   "The Jostens management team, in partnership with Platinum Equity, has 
done a tremendous job growing Jostens over the past five years," said 
KED Managing Director Tony Streich. "We are excited to partner with the 
current owners as the company continues to innovate and deliver value 
for its customers." 
 
 
   "KED seeks to invest with like-minded partners and in best-in-class 
businesses that create superior value for customers. Jostens fits this 
mold, and we look forward to supporting the company as it continues to 
invest in new products and capabilities," added KED Managing Director 
Joe Scribbins. 
 
 
   UBS Investment Bank and Methuselah Advisors are serving as financial 
advisors to Jostens. Latham & Watkins LLP is serving as Jostens legal 
counsel. 
 
   About Koch Equity Development LLC $(KED)$ 
 
 
   KED is responsible for merger and acquisition activity across Koch, 
Inc., the management of a broad principal investment portfolio, and 
corporate profitability improvement via its commercial excellence team. 
Significant principal investments completed include Infor, Getty Images, 
MITER Brands, Global Medical Response, Meredith/Time Inc., Solera 
Holdings Inc., Transaction Network Services, and The ADT Corporation. 
Since 2012, KED has invested more than $35 billion of equity in 
principal investments and acquisitions. With a presence in more than 50 
countries, Koch companies employ about 120,000 people worldwide, with 
nearly half of those in the United States. For more news and information, 
visit www.kochinc.com. 
 
   About Jostens 
 
 
   Jostens is a trusted partner in the student commemoration market 
providing products, services and experiences that champion a culture of 
belonging, achievement and pride. The company's products include 
yearbooks, graduation regalia, jewelry, letter jackets, apparel, photos 
and related consumer goods that serve the K-12 educational, college and 
professional sports segments. Founded in 1897 and based in Minneapolis, 
MN, for more information visit www.jostens.com. 
 
   About Platinum Equity 
 
 
   Founded in 1995 by Tom Gores, Platinum Equity is a global investment 
firm with more than $48 billion of assets under management and a 
portfolio of more than 50 operating companies that serve customers 
around the world. Platinum Equity specializes in mergers, acquisitions 
and operations -- a trademarked strategy it calls M&A&O$(R)$ -- acquiring 
and operating companies in a broad range of business markets, including 
manufacturing, distribution, transportation and logistics, equipment 
rental, metals services, media and entertainment, technology, 
telecommunications and other industries. Over the past 29 years Platinum 
Equity has completed more than 450 acquisitions. 
 
 
   Contacts: 
 
   Dan Whelan 
 
   Platinum Equity 
 
 
   dwhelan@platinumequity.com 
 
 
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   SOURCE Platinum Equity 
 
 
 
 
 
 

(END) Dow Jones Newswires

November 12, 2024 08:50 ET (13:50 GMT)