Here's the announcement on the homepage, says they're open...
NAOC Holdings Acquires PC Club and ClubIT
- S&S Public Relations Mindy Franklin (480)361-9575
mindy@sspr.com NAOC Holdings, a Los Angeles-based expansion stage venture capital firm, today announced it has acquired PC Club, a California-based personal computer retailing chain with 37 locations nationwide. The acquisition will allow all PC Club stores, as well as the chain's two retail Web sites, PCClub.com and ClubIT.com, to remain open with business as usual.
"Brick-and-mortar accessory computer stores are still a valued commodity in the US," said NAOC spokesperson Alan Hunter. "We know PC Club with its long history, quality technical service and computer accessory assortment will continue to have strong potential for continued business operations. A technology retail outlet is the next logical addition to our portfolio, and we expect this will be a mutually beneficial relationship."
NAOC Holdings has put together a group of legal, financial, and industry experts to build one of the leading home computer appliance conglomerates. The technology investment experience the company will bring to the relationship is invaluable for PC Club's retail offerings.
"Our new relationship with NAOC Holdings will give us an opportunity to grow our market share and expand beyond the western and central US," remarked Kim Chu, Senior Sales Manager at PC Club. "In addition, we'll now have the ability to reorganize and to work on expanding our compelling product line."
NAOC's acquisition of PC Club will leverage the venture capital firm's already broad investment experience with consumer electronics. Today's acquisition of PC Club's assets will allow the retailer to honor all customer and vendor relationships and agreements.
PC Club has existed as a computer parts store and repair center for professionals all across the country, offering upgrade kits, LCD monitors and other computer parts and services since 1992. The company expects the added infusion of funds to provide the means for them to expand from their current 37 locations.
The acquisition was effective as of May 15, 2008. Financial terms were not disclosed.
About NAOC
Los Angeles based NAOC is an expansion stage venture capital firm investing primarily in tech-enabled business service, information technology and communications companies. Established in 1996, NAOC manages a pool of capital in excess of $200 million, and is currently investing its fourth fund, raised in 2006. In addition to growth capital and board level guidance, NAOC offers its portfolio companies free research and M&A services along with annual executive education programs at leading business schools.
To learn more about NAOC's investment criteria and approach to value creation, please visit naoc-holdings.com.
Chain's 37 Stores and Two Ecommerce Web Sites to Remain Open for Business as Private Equity Firm Infuses Capital
Source:
http://www.naoc-holdings.com/explore.php
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