Case Study

Moss, Inc.

Century Park’s support and focus helped Moss navigate one of the greatest economic challenges of our time far better than our competition — allowing us to seize market share, build a more resilient business, and create long-term value for our shareholders.

Charlie Corsentino

Chairman, Moss, Inc.

Overview

Moss, Inc. is a leading provider of tensioned fabric solutions to the exhibit, event, and retail interiors industries. Moss has been the provider of choice for fabric-based visual communication solutions since pioneering the tensioned fabric concept more than 30 years ago.

Highlights

  • Pioneer in experiential marketing tension fabric structures
  • 30 years of experience
  • Award Winning
  • Internationally Recognized

Details

Headquarters – Chicago, Illinois
President & CEO – Dan Patterson
Industry – Specialty Manufacturing
Website – mossinc.com

The Situation

The owners of Moss, a leading manufacturer of tensioned fabric structures and displays for experiential marketing, were interested in liquidity. Century Park saw the opportunity to partner with the Company’s existing management to effect a recapitalization of the business.

Century Park believed that Moss’ market presence and position as a strong, branded platform could be leveraged for further growth through process and infrastructure optimization. Furthermore, there were strong macro trends favoring Moss’ unique fabric-based lightweight product offering. Finally, Century Park believed that management could leverage Moss’ track record of innovation into new markets, such as retail.

How We Helped

Century Park identified the factors leading to the owner’s decision to sell, and realized that the Company was well positioned for future growth. Century Park was very impressed with Moss’s CEO, Charlie Corsentino, and COO, Vince Marler, as each possessed the traits Century Park actively looks for in its partners. Mr. Corsentino, Mr. Marler, and all of the other members of the senior management team were not only eager to stay with the business after a transaction, but wished to invest their own capital as well.

Century Park worked with management to allow them to invest on a side by side basis to help align the interests of all parties. In addition, Century Park structured a management incentive stock plan and a loan for stock program to further allow key team members to participate in the Company’s continued success.

The Result

Century Park and the Company have been dealing with challenging economic conditions since the acquisition in mid-2008, but the Company’s performance has weathered the environment admirably, and is now experiencing strong financial performance due to several initiatives that have been implemented to help strengthen the Company’s position in their industry:

  • Engaged with operational consultant partners to help identify and implement cost saving process optimization strategies.
  • Developed a detailed index of potential acquisition targets, to not only solidify the Company’s position as the leader in its market but to allow it to expand into other markets as well. Hired an outside buyside advisor to actively manage the process and facilitate the consolidation strategy.
  • Completed four acquisitions to further diversify the business into adjacent markets and accelerate growth.
  • Engaged in a plant consolidation strategy to further improve the Company’s cost position and streamline its operations.
  • Augmented the management team and Board of Directors with industry experts.
  • Implemented a management incentive stock option plan and a loan for stock program.