Press Release

Mesirow Financial Advises Modagrafics, Inc. on its Sale to Classic Stripes Private Limited

Mesirow Financial acted as the exclusive financial advisor to Modagrafics, Inc. (“Modagrafics” or the “Company”) on its sale to Classic Stripes Private Limited (“Classic Stripes”), an affiliate of ASTARC Group and portfolio company of Navis Capital Partners.

Headquartered in Rolling Meadows, Illinois, Modagrafics is a one-source provider of unique and creative large format graphics for the fleet, original equipment manufacturer (“OEM”) and retail markets, serving some of the largest and most well-known companies in the country. The Company works closely with its customers to provide total turnkey program management services, including design, engineering, inventory management and installation, among others. Modagrafics’ management team will remain with the Company going forward, providing a seamless transition and executive management continuity.

Len Carlson, founder and chairman of Modagrafics, commented, “Mesirow Financial was instrumental in conducting an effective transaction process with Classic Stripes, a strong strategic partner. Our customers and employees will both benefit as Classic Stripes and Modagrafics join forces and continue to grow the Company’s product offering, graphic capabilities and geographic reach. Mesirow Financial’s advice throughout the process resulted in a successful outcome for all parties involved.”

Rick Weil, managing director of Mesirow Financial, added, “We were honored to work with Modagrafics on this assignment. The Company’s unique capabilities are a strong complement to Classic Stripes’ broad range of product and service offerings.”

Kishore Musale, chairman and managing director of ASTARC Group, said, “We are very excited about the future as Modagrafics and Classic Stripes join forces. Len Carlson and his management team have built a fantastic business. Classic Stripes is ready to take Modagrafics to its next phase of growth.”

The transaction represents another successful assignment completed by Mesirow Financial’s Investment Banking group. Mesirow Financial is one of the most active advisors in the specialty printing, paper, plastics, and packaging sectors, having completed over 90 transactions in recent years.

About Classic Stripes Private Limited
Classic Stripes Private Limited, established in 1987, is one of the largest manufacturers of automotive graphics in the world, with a production capacity of over 15 million automotive graphic sets per annum. Today, Classic Stripes has a significant market share in the Indian automotive OEM printing industry. Classic Stripes is a global player with presence in the UK, USA and the Middle East. Classic Stripes is a premium imaging solutions provider with diversified printing and a strong presence in a broad range of end markets.

Nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy an interest in any Mesirow investment vehicle(s). Mesirow Financial, Inc. is not affiliated with Modagrafics, Inc., Classic Stripes Private Limited, ASTARC Group, Navis Capital Partners, or their affiliates. Past performance is not indicative of future results. Mesirow refers to Mesirow Financial Holdings, Inc. and its divisions, subsidiaries and affiliates. Securities offered through Mesirow Financial, Inc. member FINRA, SIPC.

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