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​Private Equity Firms Invest in Cannella Response Television

The Business Journal of Milwaukee, 6.16.09

Rich Kirchen

Cannella Response Television, a Burlington company that brokers time for television infomercials, said it has received “a significant investment” from three private equity firms.

Two investors provided only private equity: ZM Capital and Palladium Equity Partners. ZM Capital is the private equity investment fund of ZelnickMedia. Veronis Suhler Stevenson will provide mezzanine debt financing and an equity investment through its VSS Structured Capital II fund.

All three of Cannella Response’s new investors are based in New York City.

Terms of the transaction were not disclosed. Cannella Response will continue to be managed by its current management team, led by founder and executive director Frank Cannella and CEO Robert Medved. Cannella Response Television executives are not disclosing who now holds a majority stake in the company.

The investments by ZM Capital and Palladium Equity Partners will enable Cannella Response to accelerate its growth by investing in both new acquisitions and developing new services and media offerings, the company said.

“ZM Capital and Palladium Equity Partners each bring tremendous expertise and capital resources to the company as we expand our client relationships and bring new and exciting media opportunities to the direct response television market,” Frank Cannella said.

Cannella Response Television is based in Burlington with regional offices in Los Angeles and New York.

Cannella Response Television was advised on the transaction by a team from investment banking firm Petsky Prunier, New York City.