DIMAC Concludes Sale of AmeriComm Direct Marketing
The asset purchase, which was completed Dec. 29, was led by Craig, former president and chief executive officer of the AmeriComm Direct Marketing Division of AmeriComm Direct Marketing Inc., and included a group of former key managers from ADM and a group of local investors. The group assumed certain liabilities and bought substantially all of the assets of AmeriComm's operations in Norfolk, VA, Louisville, KY, Denver, Mountainside, NJ, Clifton, NJ, and Fort Lauderdale, FL.
The new owner will retain the same trade names and has agreed to hire substantially all of the company's employees.
The management and investor group acquired the assets of six operating units of AmeriComm Direct Marketing Inc., including AmeriComm Data Direct in Mountainside, NJ; AmeriComm Direct Marketing VA, Norfolk; AmeriComm Direct Marketing KY, Louisville; AmeriComm Direct Marketing CO, Denver; Cardinal Marketing, Fort Lauderdale; and Cardinal Teleservices, Clifton.
The company has adopted the AmeriComm Direct Marketing name and will continue to specialize in providing retail program management, business communication services, electronic bill presentment and payment, data-driven direct mail processing, custom database software solutions, transportation logistics, print services, telemarketing, and targeted US resident household database list services for clients.
The company offers direct marketing and information outsource services to retail, financial, publishing, utility, cable and telecommunications customers.
Robert "Kam" Kamerschen, chairman/CEO, said, "The completion of this sale is an important achievement and reflects our ongoing activities to substantially improve profitability, eliminate excess debt on our balance sheet, and position the company to lead the value-added direct response marketing services industry as we prepare to emerge from Chapter 11."
Dimac's reorganization, which involved the sales of Dimac's noncore assets, was approved by the U.S. Bankruptcy Court in Wilmington, DE, on Dec. 19 and is expected to become effective in early February, at which time the company would formally exit Chapter 11.