For Immediate Release
October 29, 2012
Contact: Betsy Holahan, 202-670-6083, [email protected]
Small Business Investor Alliance Honors JSI Store Fixtures
As 2012 Portfolio Company of the Year
Top Award Goes to Successful Maine Small Business, a Portfolio Company of
Champlain Capital Partners, and Now the Region’s Largest Employer
WASHINGTON, DC – The Small Business Investor Alliance (www.sbia.org) today
announced it will name JSI Store Fixtures Inc. (JSI) of Milo, Maine as the 2012 Portfolio
Company of the Year. The award will be presented to JSI on October 30 at SBIA’s
annual conference, the National Summit for Middle Market Funds, held October 28-30,
2012 at The Breakers in Palm Beach, Florida.
“We are pleased to recognize JSI Store Fixtures’ outstanding success with this award,”
said Brett Palmer, President of the Small Business Investor Alliance, the premier national
organization of lower middle market private equity funds and investors. “With
investment backing from Champlain Capital Partners, JSI Store Fixtures has flourished
over the years -- expanding into a larger plant, investing in new equipment, and hiring
new workers. Because of the private equity dollars invested in this company, it is now the
region’s largest employer and has made tremendous contributions to the local community
and economy. This is just another example of how private equity works to empower
small businesses to grow and strengthen the national economy.”
The Portfolio Company of the Year Award is designed to demonstrate the effectiveness
of private equity financing and the benefits of the partnership between private equity
investors and small businesses. The award has been presented to 33 outstanding portfolio
companies since 1987. This year, JSI Store Fixtures, designer, manufacturer and marketer
of refrigerated and non-refrigerated wood fixtures, foam products and displays to
regional, super-regional and national supermarket, grocery and food retail chains for use
in produce, bakery, floral and wine areas, was chosen from among a very competitive
selection of successful companies throughout the country.
“JSI Store Fixtures is honored to receive this prestigious award,” said Mark Awalt, coowner of JSI Store Fixtures. “We have been pleased to partner with Champlain Capital
Partners, and the investment resources they provided have been invaluable as our
employees have worked tirelessly to make JSI such a success story. Our ability to provide
jobs and give back to the community has been extremely gratifying, and we appreciate
being recognized in this way.”
U.S. Senator Olympia Snowe of Maine praised JSI Store Fixtures in a speech on the
Senate floor in June, saying that funding from community development block grants and
a U.S. Small Business Administration guaranteed loan (from Champlain Capital through
the Small Business Investment Company program) “enabled JSI to expand and relocate
to the vacant Dexter Shoe Plant in 2000, garnering many employees who had previously
worked for Dexter Shoe. JSI now ships 95 percent of its products out of Maine and in
2011 generated approximately $20 million in sales -- proof that small businesses are
economically successful, even in the most rural parts of Maine. Today, JSI is the region's
largest employer and has become a cherished staple in the community.”
About JSI Store Fixtures:
A premier manufacturer of high-end, custom wood and metal fixtures for the supermarket
industry, JSI Store Fixtures of Milo, ME was founded in 1991 by brothers Barry and
Terry Awalt and their step-father Clayton Johndro in the family basement. With the help
of financial investment, the company outgrew its early facilities to move to the former
Dexter Shoe plant, where the Awalt brothers had worked in high school. By taking over
the vacant plant, JSI Store Fixtures provided employment opportunities in what had
become an economically depressed area. The company had 2011 sales of $20 million and
has become the region’s largest employer. It supplies fixtures for national supermarket
chains such as Whole Foods, Giant, Wegman’s and others. It has received state and
national awards for safety excellence and for business excellence, as well as state awards
for its contributions to the local community and educational and youth programs there. In
2004, the SBA named co-owner Mark Awalt the Maine Business Person of the Year.
About Champlain Capital Partners:
Champlain Capital Partners, an SBIC, is a lower middle market private equity firm with
offices in San Francisco and Boston. With $140 million of assets under management,
Champlain focuses on niche manufacturing, consumer, distribution and health care
businesses, bringing 65 years of collective operating and buyout experience. The firm’s
distinctive approach to helping its portfolio company management unlock the underlying
value of their businesses has enabled Champlain to achieve outstanding operating results.
About the Small Business Investor Alliance:
The Small Business Investor Alliance (SBIA) is the premier organization of lower middle
market private equity funds and investors. SBIA members provide vital capital to small
and medium sized businesses nationwide, resulting in economic growth and job creation.
SBIA has been playing a pivotal role in promoting the growth and vitality of the industry
for more than 50 years. For more information, visit www.sbia.org or call 202-628-5055.
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