Transom Capital Backs Ritz Camera

Los Angeles-based private equity firm Transom Capital Group has invested an undisclosed amount in Ritz Camera & Image. Terms of the deal were not released. Washington, D.C.-based Ritz Camera operates roughly 300 stores across 34 states, and had been looking for an investor able to help “re-assert” its position in the photo market, the company said.

PRESS RELEASE
Los Angeles-based private equity firm Transom Capital Group and Ritz
Camera & Image, the leading specialty retailer of camera and imaging
products and services in the United States, announce today that Transom
has provided capital to Ritz Camera & Image. The announcement follows a
comprehensive search led by the company to bring in a new capital partner
that will enable the company to re-assert its place as the dominant
specialty player in the marketplace.

“The Ritz Camera acquisition presented a unique opportunity to capitalize
one of the oldest and strongest brands in the industry,” said Ken Firtel,
managing director of Transom Capital. “We believe that by partnering with
Transom Capital the company will be able to build on its long-standing
and stellar reputation as the leading destination to purchase camera and
imaging products.”

Stephen M. LaMastra, the CEO of Ritz Camera, is excited about what the
future holds. “We’re thrilled to have Transom Capital as a partner,” said
Mr. LaMastra. “With the closing of this transaction and the added
expertise of the Transom Capital team, we are in a great position to take
advantage of all of the opportunities, both short term and long term, in
front of the business.”

Transom Capital plans to leverage its model of deep operational
involvement and support to assist the management team of the company in
executing against its strategic growth plan. “Ritz Camera enjoys great
brand recognition among photography enthusiasts nationwide, a loyal
customer base, and a strong foundation,” said Russell Roenick, a Managing
Director at Transom Capital. “We look forward to working with the
company’s strong and experienced management team to build on this
foundation and offer the most compelling products and services to its
dedicated customer base.”

Terms of the transaction were not disclosed. Lead investors for Transom
Capital in the deal were Robert Barth, Camelot Venture Group, Radnor
Capital Corporation (a Marc Brutten company), and the Schostak Family,
each of whom will have a representative on the board of directors of the
company. VRA Partners and WeinsweigAdvisors served as advisors to Ritz
Camera.

About Transom Capital Group
Transom Capital Group is a Southern
California private equity firm focused on buyouts and turnarounds in
middle-market companies, especially within the consumer, industrial,
retail and media industries. The firm approaches each investment with a
high degree of operational involvement and support. For more information,
go to www.transomcapital.com.

About Ritz Camera & Image
Ritz Camera & Image is America’s premier
retail destination for cameras and imaging. With a legacy of nearly 100
years, Ritz Camera & Image is a leader in the exciting and evolving world
of image technology. Always a leader in price and quality, Ritz is ranked
by Consumer Reports as a top five electronics store, and is the highest
ranking destination for camera and imaging products based on service,
product quality and buying ease. Ritz Camera & Image is headquartered in
Washington, D.C. and operates nearly 300 stores in 34 states from coast
to coast. RitzPix.com is the company’s online site for all imaging needs,
and offers a range of products for pick up in-store in one hour or
delivered in one day that is unrivaled anywhere in the world. Ritz has
dedicated its legacy to empowering consumers to share, display and save
all of life’s treasured memories.