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September 4, 2007
Code Hennessy & Simmons LLC Announces Acquisition of Swank Audio Visuals, LLC

Code Hennessy & Simmons LLC (“CHS”) announced today that it has made a majority equity investment in Swank Audio Visuals, LLC, (“Swank”), a leading provider of outsourced audio visual services. The equity investment in Swank represents a partnership between CHS and Swank’s senior management team. Funds for CHS’ investment in Swank come from CHS Private Equity V LP, a $1.3 billion investment fund formed in 2005.

Headquartered in St. Louis, Missouri, Swank provides comprehensive audio visual services for corporate meetings and events including event consultation, creative event design, technical support, equipment rental and post-production services. The equipment and services provided by Swank include digital projectors, multiple camera video, intelligent lighting, custom-designed staging and concert sound. Swank provides audio visual solutions to over 240 hotels in 58 major markets throughout the United States, Canada, Mexico and the Caribbean. For additional information about Swank, please refer to the company’s website at

Greg Diekemper, President and CEO of Swank, said, “With our national footprint and the continued industry trend toward outsourcing, Swank is well-positioned for considerable growth. The expertise and resources that CHS can provide will be extremely beneficial to our strategic plans to capture additional market share and expand, both in the U.S. and overseas.”

Richard Lobo, Partner at CHS, noted, “We look forward to working with Greg and his management team. Swank’s leadership, attractive value proposition that it provides to its customers and excellent renewal rates have contributed to Swank’s impressive results over the last several years. With the company’s solid performance, favorable industry trends and CHS’ strong experience in the services sector, we see tremendous opportunity for continued growth.”

The investment in Swank complements CHS’ business and consumer services portfolio, which currently includes AMF Bowling Worldwide, Inc., the largest operator of bowling centers worldwide; Acton Mobile Industries, a leading provider of modular space rental services; and Suture Express, Inc., a distributor of sutures and other wound closure products. Prior CHS portfolio investments in business and consumer services have included American Reprographics Company, the largest provider of outsourced reprographics and related business services in the U.S.; Baker Tanks, Inc., the leading supplier of containment rental equipment in the U.S.; and Corporate Benefit Services of America, Inc., a healthcare services company that provides benefit administration.

CHS is a Chicago-based private equity firm specializing in private equity investments and recapitalizations of middle market companies in partnership with management. CHS targets well-managed companies focused on growth with enterprise values between $75 million and $1 billion. With particular expertise in the Business & Consumer Services, Distribution, Consumer Products and Infrastructure & Industrial Products sectors, CHS has completed 69 platform investments and 163 add-on investments. Founded in 1988, CHS has formed five private equity funds and currently manages over $2.5 billion of capital. For additional information about CHS, please refer to the firm’s website at