FALCONHEAD CAPITAL ACQUIRES GROWING FAMILY, INC., THE LEADING PROVIDER OF IN-HOSPITAL INFANT PHOTOGRAPHY SERVICES
NEW YORK and ST. LOUIS, Aug. 24, 2006—Falconhead Capital, LLC, of New York, a private equity firm specializing in investments in lifestyle-, leisure- and other consumer-focused businesses, today announced that it has acquired Growing Family, Inc., of St. Louis, the leading North American provider of in-hospital infant photography services.
Founded in 1947, Growing Family is the exclusive provider for 2,200 birthing hospitals in North America. Through its First Foto division, the company interacts with nearly 70 percent of new parents in the United States and Canada each year. Its strategic relationships with many top consumer product and service companies and network of hospitals and new parents enable Growing Family to offer a broad and growing range of direct and Internet-based image, marketing and related services.
David Moross, Chairman and Chief Executive Officer of Falconhead Capital, said: “Growing Family is and has long been the leading player in the in-hospital infant photography business. But baby photos are just the beginning of Growing Family’s business. In addition, the company’s network of new families and proprietary database of information on nearly 30 million such families are major assets that give Growing Family what we believe is enormous growth and value-creation potential. By working closely with the Growing Family management team and bringing to bear our own in-house strategic, financial and marketing expertise, we fully intend to realize that potential.”
Growing Family’s interaction with the families of newborn infants (with the permission of both parent and hospital) enables the company to market its own products, such as infant and family commemorative photographs, birth announcements, gifts and other keepsakes, to those families. It also enables consumers to enroll in the company’s Growing Family Club, which provides new and expectant parents with valuable and relevant information, product samples, discounts and coupons on behalf of major consumer product and service companies. The company also offers WebNursery®, a free webpage that enables parents to display their newborn’s First Foto® and birth information. WebNursery currently attracts more than 32 million page views per month and some 9 million unique visitors per year. Visit the company at www.growingfamily.com.
Growing Family is the third investment of Falconhead Capital’s second fund, Falconhead Capital Partners II, L.P., following the acquisitions of Extreme Fitness and Escort Inc. Financial terms of the Growing Family transaction were not disclosed.
Falconhead Capital, LLC (www.falconheadcapital.com) is a private equity firm established in 1998 to provide investors with significant long-term capital appreciation by investing globally in consumer-focused businesses in the leisure, lifestyle, recreation and related categories. In addition to Growing Family, Falconhead Capital's current and prior portfolio investments include Extreme Fitness, Escort, Inc., National Powersport Auctions, Premier Salons International, Maritime Telecommunications Network, and ESPN Classic Europe.